ArcTern Ventures, a Toronto and Montreal, Canada-based venture capital firm investing globally in breakthrough clean technology companies addressing climate change and sustainability, held the second closing of its Fund II.
The firm increased its second fund size to $200m from $150m, with new investors including TD Bank Group, Suncor, BDC, top family offices such as The Ivey Foundation, and another top Canadian pension fund. They joined anchor investors OMERS, Equinor (formerly Statoil) and others.
Together, they have invested approximately $165m in aggregate capital commitments to-date.
Led by co-founders and managing partners Murray McCaig and Tom Rand, ArcTern Ventures invests globally in breakthrough clean technology growth companies addressing climate change and sustainability.
The firm is interested in deep technology and emerging fields of science, from advanced materials to artificial intelligence, which apply broadly to target sectors such as Clean Energy, Energy Use and Storage, Advanced Manufacturing and Materials, Food Systems, Mobility, agtech and foodtech.
In Canada, ArcTern Ventures works closely with MaRS Discovery District to find the highest-potential companies in cleantech. MaRS is North America’s largest urban innovation hub and a leader in startup acceleration.
Portfolio companies include Smarter Alloys, Parity, Morgansolar, Hydrostor, Sheertex, Circuitmeter, Greenmantra Technologies, Polas Sapphire, MMB Networks, Woodland, and Smart Energy Instruments.