OMERS, Equinor anchor $60 mln initial close of ArcTern Fund II
ArcTern Ventures, a Canadian early-stage venture capital firm focused on the clean technology sector, has initially closed its second fund at $60 million. ArcTern Ventures Fund II, targeted to raise up to $150 million, was anchored in its first close with commitments from Ontario Municipal Employees Retirement System (OMERS) and Equinor ASA, a Norwegian energy company. Founded in 2012 by Managing Partners Murray McCaig and Tom Rand, ArcTern invests across six core clean technology sub-sectors: renewable energy, energy use and storage, circular economy, advanced manufacturing and materials, mobility, and agri-technology. The Toronto-based firm works in partnership with Canadian innovation hub and startup accelerator MaRS Discovery District.
9 October 2018•4 mins read
