Yesterday MaRS Discovery District announced that the RBC Generator has invested $500,000 in the MaRS Cleantech Fund, the first deal for the investing arm of RBC's Social Finance initiative.
Launched in 2012, the MaRS Cleantech Fund aims to provide early-stage funding to companies developing next-generation clean technology breakthroughs with global markets, deep intellectual property and capital-lean business models.
The RBC Generator provides financing for enterprises that address clean water, energy efficiency, or employment opportunities for youth or disadvantaged groups.
The MaRS Cleantech Fund will invest in 10-12 cleantech companies that aim to provide solutions to pressing challenges such as rising energy prices, resource scarcity and carbon emission constraints. The Fund is able to mitigate early-stage investment risks by leveraging its relationship with MaRS, which provides access to a leading network of innovators developing clean and sustainable technologies.
According to Ottawa-based Analytica Advisors, the global cleantech market is expected to reach $3 trillion by 2020.