Ontario Teachers' Pension Plan
About Ontario Teachers' Pension Plan
Ontario Teachers' Pension Plan invests and administers the pensions of active and retired teachers. It invests the pension fund's assets and administers the pensions of 284,000 active and retired teachers in Ontario. A pension plan has existed for Ontario teachers since 1917. Today, the plan's members include 173,000 teachers in elementary and secondary schools in Ontario, 111,000 pensioners, and 72,000 inactive members. The plan has one of Canada's largest payrolls with $4.2 billion in benefits paid to plan members and $2.3 billion received in total contributions from teachers and the provincial government in 2008.
Ontario Teachers' Pension Plan Board was established as an independent organization on January 1, 1990. It launched with $20.1 billion in net assets, held mostly in government bonds. Net assets were C$303.2 billion as of June 30, 2026. Jo Taylor has been President and CEO since January 2020. Its venture arm began as the Teachers' Innovation Platform and was renamed Teachers' Venture Growth (TVG) in 2022. Olivia Steedman is global head of TVG. Rick Prostko, a senior managing director at TVG, was quoted on the Harvey investment. The fund's first venture growth investment was SpaceX in 2019. Public sources do not name individual partners who lead AI deals specifically.
AI exposure comes through TVG, which invests directly in technology companies and in select venture capital and growth equity funds across North America, Europe and Asia. TVG's net investments were C$15.3 billion at the end of 2025, up from C$10.4 billion a year earlier, and it made up 6% of the total portfolio. Its 2025 return was 30.2%. The 2025 annual report names Anthropic among the year's additions. Recent AI deals include a lead role in Ramp's $750M Series F in June 2026, participation in Wayve's $1.2B Series D in February 2026, and a US$50M investment in Harvey in a round co-led by Diffusion and Lightspeed. Press reports also link the fund to Databricks.
TVG invests directly from the Series B stage onward. Its site gives an initial direct investment range of $50-250M and says it has no cap on how much it can invest and no limit on how long it can hold. Early-stage rounds (pre-seed to Series A) are outside this mandate. The fund does not publish a separate fund size, because it invests from the pension plan's balance sheet.
- Anthropic: AI safety company behind Claude; Series F of $13B in September 2025 at a $183B post-money valuation.
- Wayve: embodied AI for autonomous driving; Series D of about $1.2B in February 2026 at an $8.6B post-money valuation.
- Ramp: corporate spend and finance platform; $750M Series F in June 2026, co-led with ICONIQ and GIC.
- Harvey: AI tools for law firms; US$50M invested in a US$600M round in 2026.
- Databricks: data and AI platform; reported as a TVG holding, round details not confirmed.
- otpp.com/en-ca/investments/our-investments/teachers-venture-growth
- betakit.com/ontario-teachers-venture-growth-portfolio-posts-30-percent
- otpp.com/en-ca/about-us/news-and-insights/2026/ontario-teachers-announ
- otpp.com/content/dam/otpp/documents/reports/2025-ar/otpp-2025-annual-r
- goodwinlaw.com/en/news-and-events/news/2026/02/announcements-technolog
- goodwinlaw.com/en/news-and-events/news/2025/09/announcements-technolog
- gic.com.sg/newsroom/all/ramp-raises-series-f-at-44-billion-valuation
- cp24.com/local/toronto/2026/09/24/ontario-teachers-pension-plan-invest
Investing activity
Ontario Teachers' Pension Plan appears in 3 AI deals tracked by the AI Lounge deals desk, rounds totalling $15B, and led 1 of them. The rounds are mostly Series F and Series D, with a median round size of $1.26B and the largest at $13B. The most recent are Ramp (Series F, $750M, Jun 2026), Wayve (Series D, $1.26B, Feb 2026) and Anthropic (Series F, $13B, Sep 2025).
Ontario Teachers' Pension Plan most often invests alongside Iconiq Capital, GIC, Lightspeed Venture Partners and D1 Capital Partners, and the companies it backs on AI Lounge are mostly in AI.
Deals
Frequently asked questions about Ontario Teachers' Pension Plan
Does Ontario Teachers' Pension Plan invest in AI startups?
Yes, through Teachers' Venture Growth. Recent examples are Anthropic, Wayve, Ramp and Harvey.
What check size does Ontario Teachers' Teachers' Venture Growth write?
Its site gives an initial direct investment range of $50-250M. It says there is no cap on total investment per company.
Does Ontario Teachers' invest at seed or Series A?
Not directly. TVG invests directly at Series B and beyond. It also backs select venture and growth equity funds.
Who leads AI investing at Ontario Teachers'?
Olivia Steedman is global head of Teachers' Venture Growth, and Rick Prostko is a senior managing director there. No public source names a separate AI-specific lead.
Where is Ontario Teachers' Pension Plan based?
It is headquartered in Toronto, with offices in London, New York, Hong Kong, Singapore and Mumbai.
What AI companies has Ontario Teachers' Pension Plan invested in?
Ontario Teachers' Pension Plan's AI investments include Ramp, Wayve and Anthropic. The 3 rounds on AI Lounge are listed on this page with amounts, dates and co-investors.
What stage does Ontario Teachers' Pension Plan invest at?
In the rounds tracked on AI Lounge, Ontario Teachers' Pension Plan has invested at Series F and Series D, with a median round of $1.26B. Ontario Teachers' Pension Plan led 1 of those rounds.
Who does Ontario Teachers' Pension Plan co-invest with?
Ontario Teachers' Pension Plan's most frequent co-investors on AI Lounge are Iconiq Capital (2 deals), GIC (2 deals), Lightspeed Venture Partners (2 deals), D1 Capital Partners (2 deals) and Insight Partners (2 deals).
How can founders reach Ontario Teachers' Pension Plan?
Founders on AI Lounge can see Ontario Teachers' Pension Plan's contact details in AI Investor Contacts (paid plans), check for a warm introduction through members who worked with the firm under Warm Paths, and add Ontario Teachers' Pension Plan to their Investor Pipeline to track the conversation.