[April 26, 2012] Healthcare of Ontario Pension Plan Partners with Klass Capital [Health & Beauty Close - Up] Tweet (Health & Beauty Close - Up Via Acquire Media NewsEdge) Venture Capital firm, Klass Capital, has announced a partnership with Healthcare of Ontario Pension Plan (HOOPP) to significantly increase the size of Klass Capital Fund I, a Canadian based venture capital fund focused on enterprise software, information technology and e-commerce companies. Founded by Daniel Klass in 2010, the Fund now has $50 million to invest in high growth Canadian technology businesses. Commenting on the partnership, Elizabeth Loach, Partner at HOOPP Capital Partners said, "We are delighted to partner with Klass Capital to help strengthen Canada's technology ecosystem. Additional capital will help Canadian entrepreneurs create value by driving innovation and demonstrating international reach." According to a recent study1, Toronto, Montreal and Vancouver rank among the world's top 25 technology start-up ecosystems. Toronto ranked an impressive fourth on the list. Healthcare of Ontario Pension Plan's partnership with Klass Capital aims to ensure that the area's entrepreneurs have access to local capital. Daniel Klass, Founder, Klass Capital, said: "We take a collaborative and entrepreneurial approach to investing and strongly believe our partnership with Healthcare of Ontario Pension Plan will better support Canada's best entrepreneurs and drive Canada's technology sector." Daniel Klass went on to add: "The Fund will be investing between $2 million and $10 million of equity per transaction in proven high growth technology businesses. We see tremendous industry growth in e- commerce and enterprise software and we are very excited about all the opportunities we are currently exploring." "As Klass Capital and Healthcare of Ontario Pension Plan share a similar entrepreneurial style and long-term approach to value creation, we could not have asked for a more appropriate or supportive partner. This continues to be a very exciting time for Canadian technology businesses and we look forward to partnering in their continued success," Daniel Klass added. ((Comments on this story may be sent to [email protected])) (c) 2012 ProQuest Information and Learning Company; All Rights Reserved. [ Back To TMCnet.com's Homepage ]