MaRS establishes $30M early-stage clean tech fund

MaRS has established an early-stage clean tech fund backed solely by private sector financing to accelerate the development of firms in the MaRS Cleantech Practice. The $30-million MaRS Cleantech Fund LP is managed by MaRS Cleantech senior advisor Dr Tom Rand and Murray McCaig and has already made investments in GreenMantra and Smart Energy Instruments. The fund is intended as a follow-on to angel capital and will invest up to $1 million with the potential for follow-on funding. The fund is non-exclusive and will seek to co-invest with partners in the private sector and MaRS Investment Accelerator Fund. Half of the $30 million has been secured with the fund's first closing...