Ilse Treurnicht
South African-Canadian venture capitalist and innovation executive
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Ilse Treurnicht is a South African-born Canadian venture capitalist, innovation executive, and policy adviser. She served as CEO of MaRS Discovery District in Toronto from 2005 to 2017, making her one of the longest-serving leaders of a major North American innovation hub.[1] She was appointed to the Order of Ontario in 2017.[2]
University of Oxford (DPhil)
Ilse Treurnicht | |
|---|---|
| Born | |
| Citizenship | Canadian |
| Education | Stellenbosch University (BSc, MSc) University of Oxford (DPhil) |
| Occupations | Venture capitalist, innovation executive |
| Known for | CEO of MaRS Discovery District (2005–2017) |
| Awards | Order of Ontario (2017) |
Early life and education
Treurnicht was born in South Africa, where she was a middle-distance runner and anti-apartheid student activist.[2] She earned a BSc and MSc in chemistry from Stellenbosch University.[3] She attended the University of Oxford as a Rhodes Scholar, completing a DPhil in chemistry.[3][4]
Career
Venture capital
After a postdoctoral fellowship at the University of Western Ontario, Treurnicht held senior management roles in emerging technology companies, including work in green chemistry and medical device commercialization.[4] From 1999 to 2005, she served as president and CEO of Primaxis Technology Ventures, a Toronto-based seed-stage venture capital fund, becoming one of Canada's first female venture capital fund CEOs.[4][3]
MaRS Discovery District (2005–2017)
Treurnicht was named CEO of MaRS Discovery District in 2005, succeeding John Evans, as the innovation centre was preparing to open its first phase.[1] During her 12-year tenure, MaRS grew to a 1,500,000-square-foot (140,000 m2) campus housing approximately 6,000 people from 150 organizations across health, cleantech, fintech, and other sectors.[3] Major tenants attracted during her leadership included Facebook Canada, Autodesk, and Johnson & Johnson.[3]
Her tenure was marked by the West Tower Financial Crisis of 2013–2014. The Phase 2 tower, developed with Alexandria Real Estate Equities, had been unable to lease sufficient space to service its $224 million Infrastructure Ontario loan.[5] The Government of Ontario ultimately committed $309 million in public funds.[6] In a 2017 interview, Treurnicht described managing the crisis as the defining challenge of her tenure.[7] By the time of her departure in June 2017, the tower was fully leased and MaRS had completed $290 million in private financing to repay the provincial loans ahead of schedule[8]
Treurnicht's compensation as CEO drew public criticism. Her salary on Ontario's Sunshine list rose from $436,625 in 2009 to $532,500 by 2013, attracting scrutiny given MaRS's public funding.[9][10] Treurnicht was succeeded as CEO by Yung Wu in 2017.[11]
Post-MaRS career
After leaving MaRS, Treurnicht became a general partner at North South Ventures, a cross-border health impact venture fund, and executive chairperson of Triphase Accelerator Corporation, a cancer drug development company.[7]
In July 2021, she co-founded TwinRiver Capital, a Toronto- and Boston-based impact investment firm, with Eric Wetlaufer and Adam Jagelewski.[12]
Honours and recognition
- Order of Ontario (2017)[2]
- Honorary Doctor of Laws, University of Toronto (2018)[3]
- Honorary Doctor of Laws, Ontario Tech University (2014)[4]
- Named one of Toronto's 50 Most Influential, Toronto Life (2012)[3]