ArcTern Ventures is a Toronto-based venture capital firm investing in breakthrough technology companies solving climate change and sustainability challenges. Formerly known as the MaRS Cleantech Fund, the firm invests globally in decarbonization across renewable energy, clean mobility, circular economy, and sustainable food and agriculture.
Deal activity decreased year-over-year (3 deals in the last 12 months vs 5 prior). Average disclosed round size is $41.9M (across 52 rounds with reported amounts).
Portfolio
39
Fund Size
$335M
Top Stage
Series B
Last 12 Mo
3
Team
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
57 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Muon Space | Series C | $250M | Aug 2026 |
 Normal Computing | Series C | $50M | Mar 2026 |
| Normal Computing | Unknown | $50M | Jan 2026 |
 Harbinger Motors | Series C | $160M | Nov 2025 |
| Muon Space | Series B | $146M | Jun 2025 |
 Hyperlume | Seed | $12.5M | Feb 2025 |
| Harbinger Motors | Series B | $100M | Jan 2025 |
| HHarbinger | Series B | $100M | Jan 2025 |
 King Energy | Series A | $10M | Oct 2024 |
 Cyclic | Series B | $75M | Sep 2024 |
| Muon Space | Series B | — | Aug 2024 |
 Cyclic Materials | Series B | $53M | Jan 2024 |
 ev.energy | Series B | $33M | Jul 2023 |
 Winnow | Series C | $10M | Jun 2023 |
| ev.energy | Series A | — | May 2023 |
 Scythe | Series B | $42M | Jan 2023 |
 Woltair | Series A | — | Jan 2023 |
| Woltair | Series A | — | Sep 2022 |
 Emitwise | Series A | $10M | Mar 2022 |
| FFlashfood, Inc. | Series A | $12.3M | Feb 2022 |
 Zoomo | Series B | $60M | Nov 2021 |
 Mighty Buildings | Series B | $22M | Jul 2021 |
| Emitwise | Seed | $3.2M | May 2021 |
| Mighty Buildings | Series B | $40M | Feb 2021 |
 reThought Insurance | Series A | $15.5M | Jan 2021 |
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Top Co-Investors
Energy Impact Partners6 shared
Costanoa Ventures6 shared
Capricorn Investment Group5 shared
ACME Capital5 shared
Radical Ventures5 shared
Congruent Ventures5 shared
Menlo Ventures4 shared
THOR Industries4 shared
Leitmotif4 shared
Tiger Global Management, LLC4 shared
Fifth Wall4 shared
Activate Venture Partners4 shared
Telstra Ventures4 shared
IA Capital Group4 shared
Core Innovation Capital3 shared
Polyvalent Capital3 shared
MVP Ventures3 shared
Khosla Ventures3 shared
MicroVentures3 shared
Last updated: 20 October 2026