Canada Pension Plan Investment Board (CPPIB) is planning to put $500 million to $1 billion to work in the venture capital market, according to a report by The Logic.
The $368 billion pension fund is hiring a senior principal to focus on investments in the space, the report said.
The investment pro will be responsible for committing capital to 10 to 15 venture capital funds in North America and Europe.
CPPIB Managing Director Shane Feeney, who heads global private equity, told The Logic the pension fund could make investments “with more direct VC exposure” in the future.
CPPIB joined the initial close of Northleaf Capital Partners‘ second Canadian venture capital fund of funds, announced this week.