Ontario Teachers’ Invests US$40 Million in AI-Driven HR Platform Darwinbox
The Ontario Teachers’ Pension Plan’s late-stage venture and growth investment arm has committed US$40 million to Darwinbox, an AI-powered human capital management platform. This investment involves both primary and secondary transactions, with Teachers’ Venture Growth acquiring a stake in the company.
Darwinbox has gained strong traction within the HR industry. Darius Vakil, director at TVG leading its India-focused investments, expressed confidence in the partnership, highlighting Darwinbox as a leading HR technology provider with impressive adoption rates.
Ontario Teachers’ Exit from Diot-Siaci
In a separate transaction, Ontario Teachers’ is selling its stake in Diot-Siaci, a corporate insurance brokerage group, to European investor Ardian. Although financial details were not disclosed, the pension plan originally invested in the firm in 2021 as part of its $13 billion global financial services and insurance portfolio.
Since the initial investment, Diot-Siaci’s revenues have grown approximately 1.5 times to €1 billion. Inaki Echave, head of EMEA private capital at Ontario Teachers’, noted this as a successful partnership, reflecting the organization’s track record in financial and insurance services investments over the past 30 years.
PSP Investments and HOOPP Back AI Firm Cohere’s $500 Million Raise
The Public Sector Pension Investment Board (PSP Investments) and the Healthcare of Ontario Pension Plan (HOOPP) recently participated in a $500 million funding round for AI company Cohere. PSP Investments is an existing investor, while HOOPP joined as a new backer.
This latest capital infusion values Cohere at $6.8 billion and will be used to accelerate the company’s business initiatives. This move reflects continued confidence in AI firms with scalable technologies impacting multiple sectors.
Canada Pension Plan Investment Board Sells Stake in Peruvian Energy Asset
The Canada Pension Plan Investment Board (CPPIB) is selling its 49.87% equity stake in Transportadora de Gas del Peru S.A., a Peruvian energy infrastructure company, to global institutional investor EIG Global Energy Partners. The transaction details will be made public once completed.
James Bryce, head of infrastructure at CPPIB, described the investment as successful over the past decade and emphasized ongoing interest in exploring opportunities across Latin America due to the region’s favorable fundamentals.
What HR Professionals Should Take Away
- The investment in Darwinbox highlights the growing importance of AI-driven HR platforms in streamlining human capital management.
- Venture and pension fund interest in AI companies like Cohere signals a strong market belief in AI’s role in business operations and talent management.
- Understanding the evolving landscape of HR technology investments can help HR professionals anticipate tools that may soon influence recruitment, employee engagement, and workforce analytics.
For HR practitioners looking to deepen their knowledge of AI applications in human resources, exploring specialized courses can provide practical insights and skills. Resources like Complete AI Training’s HR-focused AI courses offer targeted learning paths to stay updated on AI trends transforming HR management.
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