Teachers’ Innovation Platform becomes Teachers’ Venture Growth as part of an ambitious growth plan
Teachers’ Venture Growth also announces plans to hire 12 new team members and open an office in San Francisco in 2022.
TORONTO, ON – Teachers’ Innovation Platform, the C$242 billion venture capital and growth capital arm of the Ontario Teachers’ Pension Plan Board, announced today the new name for Teachers’ Venture Growth (TVG). The new name will provide a clearer definition of the group’s offering as part of a growth plan that will more than double the size of its portfolio to comprise 7-10% of Ontario Teachers’ net assets. over the next five to ten years, up from about three percent today.
TVG has grown significantly since its inception in 2019 to focus on late-stage growth and venture capital investments in cutting-edge technology companies. Since an initial investment in SpaceX in June 2019, TVG now holds a C$7.1 billion portfolio comprised of 20 direct investments and several partnerships with some of the world’s largest venture capital funds.
“We’ve built a strong and growing investment department by rolling up our sleeves and helping mission-driven entrepreneurs scale their businesses, expand their offerings, and become leaders in their markets. We are excited to continue our next phase of growth under our new name,” said Olivia Steedman, Senior Managing Director, TVG.
TVG continues its next phase of growth based on successive years of strong double-digit returns. TVG plans to hire 12 people over the next year to support its ambitions to grow its global portfolio of investments in various sectors, including fintech, enterprise software, logistics and climate technology. TVG will also open a new office in San Francisco later this year to strengthen its existing presence in the local ecosystem and to work closely with TVG’s offices in Toronto, London and Hong Kong.
“Our offering includes a diverse and agile team that can work quickly and access the global network and resources of one of the world’s largest pension plans,” Ms. Steedman said. “As we enter our next stage of growth, we will seek to build on our existing strengths to support the ambitions of an even broader group of visionary founders, and thereby expand the reach and impact of the companies shaping the world. future of people and the planet.
TVG’s portfolio includes companies such as Applyboard, Epic Games, ComplyAdvantage, Kry, Tanium and Pony.ai. Recent investments include leading the £210m funding round for Lendable, a leading AI-powered consumer finance platform, and participating in the £420m B-1 funding round US dollars for FTX Trading Ltd. owner and operator of FTX.COM, a global cryptocurrency exchange.
About Teachers’ Venture Growth
Teachers’ Venture Growth (TVG) focuses on late-stage growth and venture capital investments in cutting-edge technology companies around the world. We partner with founders with daring missions, seeking to expand their product offering, to evolve geographically and to become the leaders in their markets. We care about building sustainable businesses with good governance, set up to successfully go public if they choose. We think globally and act locally with our direct presence in San Francisco, Toronto, London and Hong Kong.
TVG is part of the Ontario Teachers’ Pension Board, a global investor with net assets of C$241.6 billion as of December 31, 2022. We invest in more than 50 countries in everything from equities to real estate to infrastructure. and venture capital growth, to provide retirement income to 333,000 current and retired Ontario teachers. With offices in Hong Kong, London, San Francisco, Singapore and Toronto, our more than 350 investment professionals bring deep expertise in sectors ranging from agriculture to artificial intelligence. We are a fully funded defined benefit pension plan and have earned a total annual net return of 9.7% since the plan’s inception in 1990. At Ontario Teachers’, we don’t just invest to make a return, we invest to shape a better future for the teachers we serve, the businesses we support and the world we live in. For more information, visit www.otpp.com/teachersventuregrowth and follow us on LinkedIn.