Omers Ventures, the new venture fund set up by the Ontario municipal employees’ pension fund, has begun to reach out to entrepreneurs in Atlantic Canada, looking for small companies that want to get big – really big.

The Toronto VC fund received $200 million in capital this year and will gain additional funds in the future as it builds up its capital to become a major player in Canadian VC. It has begun to develop a network of contacts across the country and has designated one investment officer, Damien Steel, to cover the eastern provinces.

Having joined Omers in September, Steel is now in the early stage of a campaign to engage the entrepreneurial community in Atlantic Canada. He’s not looking for immediate investments but wants to meet people, get to know the community and let people know what he’s looking for.

“My goal is to be out there about once a month and to stay engaged with the community,” he said in a phone interview from Toronto. He wants to meet with companies, possibly hold some group discussions with entrepreneurs and get to know members of the business community.

In particular, he said Omers Ventures is interested in companies with bold ambition, those that want to grow into a dominant global business. He is wary of companies that plan a quick, possibly premature, exit.

“Our goal is to build billion dollar tech companies, and if you look across the country there aren’t that many of them,” he said. “And we’re looking to invest all the way along the life cycle of a company.”

 As a pension fund, he explained, Omers Venture has a long-term outlook for the companies it invests in and is willing to be patient in letting companies grow. With investment targets ranging from $500,000 to $2 million, the fund is also set up to invest in early, mid- and late-stage financings and to support good companies throughout their growth.

The interest by Omers Ventures in Atlantic Canada is taking place as organizers put the finishing touches on the Regional VC Fund and a buzz is developing around potential VC investments in the region.

The fund is interested in investing in Technology, Media, Telecommunications, Clean Technology and Life Sciences sectors in Canada and the US. In October, it participated in the $5 million financing of Wave Accounting of Toronto.