Ontario Teachers’ Pension Plan invests US$50 million in AI firm Harvey

Ontario Teachers' Pension Plan has invested US$50 million in Harvey, a Canadian firm creating AI tools for legal entities. The investment, facilitated by Teachers’ Venture Growth, is part of a broader funding round led by Diffusion and Lightspeed Venture Partners, totaling US$600 million. Harvey's software aids in contract analysis, due diligence, compliance, and litigation, with over 3,000 clients worldwide.

Rick Prostko, a senior managing director at Teachers’ Venture Growth, highlights Harvey's established presence among Canadian clients, and notes that as a Canadian institution, Ontario Teachers' is well-positioned to support Harvey's growth.