The Healthcare of Ontario Pension Plan (HOOPP) has entered into a partnership with venture capital firm Klass Capital. The commitment will lead to a significant increase in the size of Klass Capital Fund I, LP, which is focused on enterprise software, IT and e-commerce companies.
Daniel Klass, founder of Klass Capital, explained that the fund now has $50 million to commit to high-growth Canadian technology businesses and will invest between $2 million and $10 million per transaction. “We take a collaborative and entrepreneurial approach to investing and strongly believe our partnership with HOOPP will better support Canada’s best entrepreneurs and drive Canada’s technology sector,” he said.
“We are delighted to partner with Klass Capital to help strengthen Canada’s technology ecosystem,” commented Elizabeth Loach, a partner at HOOPP Capital Partners. “Additional capital will help Canadian entrepreneurs create value by driving innovation and demonstrating international reach.”