Michael Yang has left his role as managing partner and head of ventures at the Ontario Municipal Employees’ Retirement System.
The departure comes at a time when the investment organization is adopting a strategic shift to focus its investment activity on the domestic market. Yang is based in San Francisco and helped launch the OMERS’ Palo Alto, Calif. office in 2019, leading the venture capital portfolio. He was appointed head of ventures in 2023, replacing Damien Steel.
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The OMERS Ventures will increase its focus on the Canadian market while pursuing selective U.S. opportunities through direct investments and strategic partnerships, said Don Peat, director of media relations at the OMERS, in an emailed statement to Benefits Canada.
The organization has appointed Saar Pikar as managing director and head of ventures and growth. He’ll oversee the refreshed strategy.
“As the first Canadian pension plan to invest directly in early-stage technology, with years of leadership in this space, we are confident that this evolution of our strategy allows us to channel our resources where we can deliver the greatest value to portfolio companies and our members.”
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