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    ArcTern Ventures logo

    ArcTern Ventures

    Toronto, CanadaFounded 2012
    www.arcternventures.comLinkedIn
    Climate & Energy

    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 (2 deals in the last 12 months vs 5 prior). Average disclosed round size is $31.9M (across 34 rounds with reported amounts).

    Find people at ArcTern Ventures on Goldilocks AI

    Portfolio

    32

    Fund Size

    $335M

    Top Stage

    Series B

    Last 12 Mo

    2

    Team

    MM

    Murray McCaig

    Co-Founder and Managing Partner

    TR

    Tom Rand

    Co-Founder and Partner

    MF

    Marc Faucher

    Managing Partner

    MI

    Mira Inbar

    Partner

    NS

    Nikhil Shukla

    Partner

    TC

    Tyler Christie

    Partner

    DG

    Dinesh Ganesan

    Principal

    KP

    Keegan Pinto

    Principal

    FH

    Fiona Hamilton

    Associate

    JW

    Jackson Wright

    Associate

    SU

    Shamma Urbee

    Senior Finance Associate

    SV

    Sophie Vaughan

    Head of Impact and Investor Relations

    Portfolio Breakdown

    Stage Distribution

    Sector Distribution

    Investment Activity

    DealsAvg Round Size

    Portfolio

    36 investments
    CompanyRoundAmountDate
    Normal Computing logoNormal ComputingSeries C$50MMar 2026
    Harbinger logoHarbingerSeries C$160MNov 2025
    Muon Space logoMuon SpaceSeries B$146MJun 2025
    Hyperlume logoHyperlumeSeed$12.5MFeb 2025
    Harbinger logoHarbingerSeries B$100MJan 2025
    King Energy logoKing EnergySeries A$10MOct 2024
    Cyclic logoCyclicSeries B$75MSep 2024
    ev.energy logoev.energySeries B$33MJul 2023
    Scythe logoScytheSeries B$42MJan 2023
    Woltair logoWoltairSeries A—Sep 2022
    Flashfood logoFlashfoodSeries A$12.3MFeb 2022
    Zoomo logoZoomoSeries B$60MNov 2021
    Mighty Buildings logoMighty BuildingsSeries B$22MJul 2021
    Emitwise logoEmitwiseSeed$3.2MMay 2021
    Mighty Buildings logoMighty BuildingsSeries B$40MFeb 2021
    ThinkIQ logoThinkIQSeries A$11.6MOct 2020
    PPalmetto Clean Technology, Inc.Series B$29MAug 2020
    SPAN logoSPANSeries A$10.1MFeb 2020
    GreenMantra logoGreenMantraUnknown$5.5MJun 2016
    GGreenMantra TechnologiesUnknown$5.5MJun 2016
    MMB Networks logoMMB NetworksSeries B$7MJan 2016
    MMB Networks logoMMB NetworksSeries A$3MJan 2013
    Liminal logoLiminalUnknown$17.5M—
    Parity logoParitySeries B$19M—
    CARBON AMERICA logoCARBON AMERICASeries A$30M—
    Page 1 of 2

    Top Co-Investors

    Energy Impact Partners4 shared
    Ecosystem Integrity Fund4 shared
    Maniv3 shared
    Capricorn Investment Group3 shared
    Volta Energy Technologies3 shared
    Impact Science Ventures3 shared
    Helios Climate Ventures3 shared
    Chrysalix Venture Capital3 shared
    Good Growth Capital3 shared
    Hudson Structured Capital Management3 shared
    IA Capital Group3 shared
    Core Innovation Capital2 shared
    Polyvalent Capital2 shared
    Menlo Ventures2 shared
    MVP Ventures2 shared
    Khosla Ventures2 shared
    MicroVentures2 shared
    THOR Industries2 shared
    Ridgeline Partners2 shared
    Schematic Ventures2 shared

    Last updated: 8 September 2026