The RBC Generator, part of RBC’s Social Finance Initiative, made a $500,000 investment in MaRS cleantech fund, a venture capital fund based in Toronto. This represents the RBC initiative’s first investment.
The RBC Generator is a $10 million pool of RBC capital designed to finance enterprises addressing social and environmental challenges based in Canada. Investment areas of focus include: energy efficiency, clean water, and employment opportunities for youth and disadvantaged groups.
The MaRS Cleantech Fund was launched in 2012 and is a $30 million privately backed venture capital firm focused on early-stage cleantech investing that leverages a strategic relationship with the MaRS Discovery District.
The fund has invested in next-generation biofuels, grid-scale energy storage, home energy automation, waste recycling, distribution grid sensors and next-generation lighting substrates. Companies it has invested in include: GreenMantra, Smart Energy Instruments, Woodland Biofuels, Circuit Meter, Polar Sapphire and Hydrostar.