Linxi Chang

Linxi Chang is a Director on the North America team of Teachers' Venture Growth (TVG), the direct late-stage venture and growth arm of the Ontario Teachers' Pension Plan, one of Canada's largest institutional investors. She joined OTPP in November 2022 and helps lead direct investments in high-growth companies across AI, software, climate and industrial technologies. TVG's portfolio has grown to roughly C$15.3 billion in fair value (up from C$10.4 billion in 2024) and posted a ~30% return in 2025, driven largely by holdings such as SpaceX and Databricks.

Before OTPP, Chang was an operator at Divvy Homes, the venture-backed rent-to-own housing platform. Earlier in her career she focused on real-asset and real-estate investing: she was an associate (later cited as Vice President) in the Investments group at Equity International — the emerging-markets real estate private equity firm founded by Sam Zell — which she joined in 2015, working on investment origination, deal execution and the management of several EI portfolio companies with a lens on PropTech and FinTech. Prior to that she was an associate in the real estate group at Temasek Holdings, the Singapore-based sovereign investment firm, where she underwrote and executed platform and asset transactions across Asia and the United States. She began her career in banking (including experience associated with Credit Suisse).

Chang holds a B.A. in Economics from the University of Chicago. She is fluent in Mandarin and Cantonese and has basic Spanish proficiency. She is active in the San Francisco climate-tech investing community, hosting and participating in SF Climate Week panels focused on scaling sustainability solutions across energy and manufacturing.

Note on the source stub: the "Associate / Angel Investor / Seed Round" details reflect an outdated Equity International record. Chang's current role is a growth-stage institutional investor at OTPP TVG, which invests at Series B and later — not angel/seed.

• Invests through Teachers' Venture Growth, which backs "innovative, late-stage companies (Series B onward) that are using technology to shape a better future."
• Stage: Late-stage venture and growth; check size typically $50M–$250M (down to ~$25M for select Series B). TVG "prefers to lead rounds but will also participate alongside like-minded partners."
• Sectors: Frontier AI, enterprise/application software, climate and energy transition, industrial technology, and financial services. Chang personally concentrates on climate technology, mobility, and supply chain, plus AI and software.
• On AI, TVG emphasizes the application layer and real user value over hype — as the team frames it, "the consumer doesn't really care about the AI, they just care about their user experience."
• Looks for companies with strong scaling trajectories where a large, patient, long-duration pension-capital partner can support growth into public-market readiness.