Less than two weeks ago, MaRS announced the launch of Canada's first dedicated cleantech fund, the $30 million
MaRS Cleantech Venture Fund LP, to support the burgeoning industry in Toronto and Canada. Now California-based
SAIL Capital Partners has jumped into the game locally with the
announcement that it's launching a $100 million cleantech fund, a partnership with Stifel Nicolaus Canada Inc., to invest in Ontario energy, water and and other eco-innovation technology startups.
In a statement, SAIL managing partner Walter Schindler said Ontario was becoming "the capital of cleantech in Canada," and noted that in addition to directly supporting innovation, funding will put local companies "at the forefront of this burgeoning industry and job creation."
Analysis predicts that the global cleantech sector will be worth an estimated $3 trillion by the end of the decade, and Ontario Minister of Energy Chris Bentley issued a release welcoming the growth of the local sector, which is supported by the province's
Ontario Emerging Technologies Fund. "The clean-tech sector is a key part of Ontario's plan to create and support good jobs, replace dirty coal and build a healthier future for generations to come," Bentley said.
Writer: Edward Keenan
Source: Andrew Block, Office of the Minister of Economic Development and Innovation, Province of Ontario