MaRS IAF (MaRS Investment Accelerator Fund) is one of Canada's most active early-stage venture capital funds, backing ambitious founders building breakthrough technology companies. Launched in 2008 and backed by the Government of Ontario, the evergreen fund provides capital, mentorship, and networks to pre-seed and seed-stage startups across multiple sectors.
Their most common stage is seed (53% of deals). Average disclosed round size is $5.3M (across 43 rounds with reported amounts).
Portfolio
42
Fund Size
$100M
Top Stage
Seed
Last 12 Mo
1
Team
Nicole Osborne
Director, Platform
Jillian Malcolm
Senior Associate, Investments
Sennah Mostovac
Senior Associate, Ecosystem and Operations
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
57 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Cyder | Unknown | $3M | Jan 2026 |
 Enurgen | Seed | $4.1M | Oct 2025 |
| Cyder | Pre-Seed | $1.1M | Dec 2024 |
 Moselle | Seed | $2.1M | Jan 2024 |
 Sibli | Seed | $6M | Jan 2024 |
 FlipGive | Series B | $5M | Aug 2023 |
 Tough Commerce | Growth | — | May 2023 |
 ODAIA | Series B | $25M | May 2023 |
 Vivid Machines | Seed | $4.3M | Apr 2023 |
 KeyOps | Seed | $4M | Dec 2022 |
 GrowerIQ | Seed | — | Sep 2022 |
 Basetwo | Seed | $3.8M | May 2022 |
| ODAIA | Series A | $13.8M | Feb 2022 |
| Basetwo | Series A | $11.5M | Jan 2022 |
| ODAIA | Series A | $13.8M | Jan 2022 |
| HHeirlume | Seed | $1.7M | Apr 2021 |
| KeyOps | Pre-Seed | $650K | Jan 2021 |
 Nicoya | Series A | $20M | Jan 2021 |
| GGetware | Unknown | $1.4M | Jan 2021 |
 Aya Payments | Seed | $2.9M | Nov 2020 |
| Nicoya | Series A | $10M | Jan 2020 |
| Aya Payments | Unknown | $2.9M | Jan 2020 |
 AmacaThera | Series A | $10.3M | Jan 2019 |
| FlipGive | Series A | $5M | Jan 2019 |
| ODAIA | Seed | $1.6M | Jan 2019 |
Page 1 of 3
Top Co-Investors
BDC Capital8 shared
Alumni Ventures6 shared
Inovia Capital4 shared
Innospark Ventures3 shared
AQC Capital3 shared
Y Combinator3 shared
Garage Capital3 shared
Plug and Play Tech Center3 shared
Glasswing Ventures3 shared
Pareto Holdings3 shared
Quiet Capital3 shared
Caffeinated Capital3 shared
Argon Ventures3 shared
Tau Ventures2 shared
Graphene Ventures2 shared
Fin Capital2 shared
Diagram2 shared
Brightspark Ventures2 shared
Last updated: 7 October 2026