Damien Steel

Managing Partner and Global Head of Ventures, OMERS Ventures
Operator-turned-investor who founded and exited a tech-enabled healthcare business, he deploys his pension fund's infrastructure and real-estate assets to create strategic startup partnerships, criticizes valuation hype, and leads Deep Sky.
How to contact Damien Steel
Stages their fund invests in
N/A
Sectors their fund invests in
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Avg Check
$5M - $25M
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Does their fund Lead?
No
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Geos their fund invests in
Canada, USA, Europe
Damien Steel
Stages their fund invests in
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Sectors their fund invests in
SaaS
Fintech
AI
Enterprise
Health
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Avg Check
$5M - $25M
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Leads?
No
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About Damien Steel

Damien Steel is a longtime operator-turned-investor who founded and exited a tech-enabled healthcare business before joining OMERS Ventures, where he uses the pension fund's broader asset base—highways, ports, real estate, and operating companies—as a value-creation tool for startups, such as pairing autonomous trucking startup Embark with OMERS-owned infrastructure assets. He has publicly criticized the venture ecosystem's fixation on headline valuations and unicorn labels, arguing for focus on deal quality and fundamentals over hype, and recently made the uncommon move of leaving his senior VC role to become founding CEO of Deep Sky, a carbon-removal company OMERS helped seed.

Damien Steel's Interests

What they've been talking about across their social media accounts
  • Deep commitment to large-scale climate solutions and carbon removal technologies. He frequently highlights the urgent severity of the crisis by sharing data on temperature anomalies or risks like agricultural collapse, viewing carbon capture not just as a business but as a necessary survival mechanism.
  • Empathy for the founder journey stemming from a recent transition from venture capitalist to operating CEO. He openly reflects on the difficulty of sitting on the other side of the table, such as the enlightening experience of pitching investors himself or apologizing to past management teams for the administrative burden of preparing board decks.
  • Strong belief in the Canadian ecosystem as a hub for deep tech and climate innovation. He actively promotes local advantages for carbon removal and celebrates major commercial milestones, such as securing partnerships with Microsoft and RBC or receiving backing from the Quebec government.
  • Value placed on mentorship and team appreciation. He expresses gratitude for the impact guest speakers had on his own education and returns the favor by spending time with students, while also publicly celebrating team anniversaries and the specific contributions of colleagues.

About their Fund

OMERS Ventures

Sectors
SaaS, Fintech, AI, Enterprise, Health
Rounds
Seed - Series B+
Avg Check Size
$5M - $25M

OMERS Ventures is permanently backed by a single pension plan rather than traditional 10-year fund cycles, giving it long-duration capital and access to a multi-asset institutional platform that enables co-investment across multiple stages and capital types. The firm uses strategic foresight and scenario planning tools uncommon in venture capital to guide multi-year investment theses, while deliberately hiring from unconventional backgrounds like tech journalism and communications to integrate narrative-building directly into the investment team.

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