TLDR:
- Toronto-based climate tech VC ArcTern Ventures has raised $450 million CAD ($335 million USD) in commitments for its third climate technology fund, making it more than double the size of the firm’s second fund.
- ArcTern’s limited partners include TD Bank Group, Allianz, Church Pension Group, OPTrust, Credit Suisse Asset Management, and other large institutional investors.
- The fund will focus on “early growth-stage” companies in North America and Europe that are developing solutions to reduce emissions in fields such as renewable energy, clean mobility, sustainable food, and agriculture.
- ArcTern was founded in 2012 as the MaRS Cleantech Fund and is one of the largest dedicated climate tech VC funds in the world.
Toronto-based climate tech venture capital firm, ArcTern Ventures, has closed its third climate technology fund after securing $450 million CAD ($335 million USD) in commitments from large institutional investors. The fund, called ArcTern Fund III, is more than double the size of the firm’s second fund. Limited partners include TD Bank Group, Allianz, Church Pension Group, OPTrust, and Credit Suisse Asset Management. Fund III will focus on early growth-stage companies in North America and Europe that are developing solutions to reduce emissions in industries such as renewable energy, clean mobility, sustainable food, and agriculture. ArcTern’s co-founder, Murray McCaig, highlighted the need for scalable decarbonization solutions in the present, stating that the world requires immediate action to combat climate change. The VC firm, founded in 2012 as the MaRS Cleantech Fund and headquartered in Toronto, aims to take advantage of the economic opportunities presented by the global transition to a carbon-neutral economy.
