MaRS Launches $30M Early-Stage Cleantech Venture Fund

MaRS Discovery District, a mission-driven innovation centre located in Toronto, has launched a $30m early-stage cleantech venture fund dedicated to Canada.

The MaRS Cleantech Fund LP will co-invest with angels and other institutional funds, including the Investment Accelerator Fund (IAF), Ontario’s seed stage investment fund. The Fund managers, Dr. Tom Rand and Murray McCaig, will contribute a significant portion of their proceeds to MaRS.
Capital also comes from a number of private investors, including Greg Kiessling, co-founder of Bullfrog Power and founder of private investment company, Up Capital Ltd.

The fund has already made two investments:
GreenMantra, which has developed a proprietary technology platform to convert plastics into chemicals and other fuels; and
Smart Energy Instruments (SEI), which is in the process of creating low-cost energy sensors that form the infrastructure of a smarter grid by providing real-time, highly granular data measurements.



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