The Ontario Teachers’ Pension Plan’s private equity arm is leading an investment round for a European health-care benefits provider.

Teachers’ Venture Growth was the lead investor in a €183-million funding round for Alan, which provides companies with a range of health-care services, including health insurance. Its clients are based in Belgium, France and Spain.

Following the round, Alan, which has annual revenues of about $200 million, received a total valuation of €2.7 billion. In a press release, Olivia Steedman, senior managing director of the TVG, said the organization was drawn to Alan’s successes empowering companies across Europe to provide better health-care services for employees.

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“We’re delighted to partner with [co-founder and chief executive officer] Jean-Charles [Samuelin-Werve] and his team in simplifying access to health insurance and virtual and physical care through innovative, people-focused technology solutions.”

In other news, the Ontario Municipal Employees’ Retirement System is investing in a private electric battery business.

The OMERS participated in a US$400-million funding round for Group14 Technologies, a company that develops lithium ion batteries used in electric cars, airplanes and electrical grids. The investment will be overseen by the global capital solutions team, which is focused on opportunities related to decarbonization, clean-tech and life sciences.

In a press release, Michael Block, senior managing director of the capital solutions team, said the investment in demonstrates the long-term investor’s ability to serve as an effective partner for technology leaders. “We look forward to building similar partnerships with other cutting-edge firms in the years ahead.”

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