RBC inks first deal for its Social Finance initiative, investing $500,000 in
MaRS Cleantech Fund
TORONTO, Aug. 21, 2013 /CNW/ - MaRS Discovery District today announced that
the RBC Generator, the impact investing arm of RBC's Social Finance
initiative, has invested $500,000 in the MaRS Cleantech Fund, Canada's most
active dedicated early-stage cleantech venture fund. This is the first deal
announced through the RBC 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 Fund also leverages the strength of a non-exclusive, strategic
relationship between MaRS and the private sector.
The RBC Generator provides financing for enterprises that address clean water,
energy efficiency, or employment opportunities for youth or disadvantaged
"RBC's investment speaks to the momentum that is building around the impact
investing agenda both in Canada and globally," said Tom Rand, co-managing
director, MaRS Cleantech Fund. "The MaRS Cleantech Fund targets technologies
that will change the energy game. This investment from RBC will help these
ambitious and talented entrepreneurs become global leaders."
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.
"RBC is proud to support MaRS in its efforts to help ignite entrepreneurship
and innovation in Canada by funding businesses that deliberately seek to make
positive contributions to the community," said Sandra Odendahl, head of RBC's
Social Finance initiative. "Our investment in the MaRS Cleantech Fund is the
first made by the RBC Generator, and we hope that others in the business
community will make similar commitments to help create positive social and
Today's announcement is part of RBC's multi-million-dollar commitment to help
drive social and environmental change through private investment activity.
This commitment includes the $10 million RBC Generator—a pool of RBC capital
designed to finance enterprises addressing social and environmental
challenges—and a $10 million investment of RBC Foundation assets into
socially responsible investment funds.
About the MaRS Cleantech Fund
The MaRS Cleantech Fund (www.marsvf.com) is a private venture fund focused on
early-stage cleantech investing. The Fund invests in capital-efficient
companies with strong intellectual property, a global market opportunity and
experienced management teams. Portfolio companies are encouraged to seek
maximum support from MaRS. The Fund is managed by two experienced
entrepreneurs: Dr. Tom Rand (Twitter: @tomrand, www.tomrand.net) and Murray
McCaig (Twitter: @murraymccaig).
About MaRS Discovery District
MaRS Discovery District (Twitter: @MaRSDD) is a mission-driven innovation
centre located in Toronto. MaRS works with partners to catalyze, accelerate
and amplify innovation. MaRS supports entrepreneurs building Canada's next
generation of growth companies. In the last three years, MaRS startup clients
have raised over $750 million in capital, earned over $375 million in revenue
and hired well over 3,500 workers into knowledge economy jobs.
Royal Bank of Canada (RY on TSX and NYSE) and its subsidiaries operate under
the master brand name RBC. We are Canada's largest bank as measured by assets
and market capitalization, and are among the largest banks in the world, based
on market capitalization. We are one of North America's leading diversified
financial services companies, and provide personal and commercial banking,
wealth management services, insurance, and investor services and wholesale
banking on a global basis. We employ approximately 80,000 full- and part-time
employees who serve more than 15 million personal, business, public sector and
institutional clients through offices in Canada, the U.S. and 44 other
countries. For more information, please visit rbc.com.
RBC is recognised among the world's financial, social and environmental
leaders and is listed on the 2012-2013 Dow Jones Sustainability World Index,
the DJSI North American Index, the Jantzi Social Index and the FTSE4Good
Index. RBC is one of Canada's Greenest Employers, one of Canada's 50 Most
Socially Responsible Corporations and among the Global 100 Most Sustainable
Corporations in the World. Learn more about RBC's commitment to communities
andenvironmental sustainability at www.rbc.com/community-sustainability .
SOURCE MaRS Discovery District
Melissa Hughes Manager, Media & Community Relations MaRS Discovery District
416-673-8100 ext. 2710 email@example.com
Jackie Braden Director, Brand & Corporate Citizenship Communications RBC
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