TORONTO, Aug. 3, 2017 /CNW/ - The board of directors of the Ontario Capital Growth Corporation (OCGC) is pleased to announce the appointment of Steve Romanyshyn as new President and Chief Executive Officer.
Mr. Romanyshyn has a wide range of experience. Most recently he was the director responsible for the development of economic and innovation strategies at the Ministry of Economic Development and Growth (MEDG) and the Ministry of Research, Innovation and Science (MRIS). Mr. Romanyshyn is a graduate of the University of Victoria with a Masters in Economics.
As part of its overall portfolio of fund-of-funds and direct investments, the OCGC is currently helping the province to deliver on its $55 million commitment to invest in one or more cleantech venture capital funds, so that high potential cleantech firms can access the capital they need to grow their business.
Ontario's Business Growth Initiative (BGI) supports businesses' competitiveness by increasing access to the capital, resources and expertise they need to scale up. The OCGC is a valued delivery partner of BGI.
"To remain competitive in today's global economy, we need to help high-growth, innovative companies access the risk capital they need to succeed. The OCGC and its employees, including the new CEO, are an important component of Ontario's innovation ecosystem. Steve has been instrumental in building Ontario's innovation strategy and he will be an asset to the organization."
—Reza Moridi, Minister of Research, Innovation and Science
"This is an exciting time for OCGC. Capital financing, including venture capital, is critical for innovative start-ups, early stage and expanding companies. We are confident our new President and CEO's leadership will help us to continue to fulfill our mandate and pursue new opportunities."
—Annie Ropar, Board member, Ontario Capital Growth Corporation
About the Ontario Capital Growth Corporation (OCGC):
The OCGC is a board-governed provincial agency that makes investments in market-based venture capital funds that are managed by private sector fund managers with a goal to help grow a globally competitive venture capital industry in Ontario and Canada. These externally-managed funds include the Ontario Venture Capital Fund LP, the Northleaf Venture Catalyst Fund LP, and the ScaleUp Venture Fund I LP. The OCGC is also responsible for managing and operating the Ontario Emerging Technologies Fund.
For more information: www.ontario.ca/ocgc.
SOURCE Ontario Capital Growth Corporation
For further information: Annie Ropar, Ontario Capital Growth Corporation, 416-325-6874