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The Venture Codex

MaRS

10 MARINA BOULEVARD #14-02 MARINA BAY FINANCIAL CENTRE, SINGAPORE, 018983

Overview

Growth capital provider for fast-growing startups.

Founded

2020

Deals · 12mo

2

Links

WebsiteLinkedIn

Stage focus

Seed

Geographic focus

Canada
India
United Kingdom

Sector focus

—

Investment portfolio

43rounds
NAMEDATESIZE
Thri5
Sep 2026Participated
$5 MSeed
SELLIT9
Jun 2026Participated
$3 MSeed
Eruditus Executive Education
Sep 2025Led
$150 MDebt
Cyder
Dec 2024Participated
$1 MSeed
Moselle
Oct 2024Led
$2 MSeed
HungryPanda
Sep 2024Led
$55 MDebt
Bloks, Inc.
Sep 2024Participated
$2 MSeed
Ecomtent
Sep 2024Led
$0.85 MSeed
InMobi
Sep 2024Led
$100 MDebt
Zepto
Aug 2024Led
$340 MSeries G
ReliON
Jul 2024Participated
$2 MOther Equity
Lepaya
Sep 2023Participated
$38 MOther Equity
Thri5
Sep 2026Participated
$5 MSeed
SELLIT9
Jun 2026Participated
$3 MSeed
Eruditus Executive Education
Sep 2025Led
$150 MDebt
Cyder
Dec 2024Participated
$1 MSeed
Moselle
Oct 2024Led
$2 MSeed
HungryPanda
Sep 2024Led
$55 MDebt
Bloks, Inc.
Sep 2024Participated
$2 MSeed
Ecomtent
Sep 2024Led
$0.85 MSeed
InMobi
Sep 2024Led
$100 MDebt
Zepto
Aug 2024Led
$340 MSeries G
ReliON
Jul 2024Participated
$2 MOther Equity
Lepaya
Sep 2023Participated
$38 MOther Equity
43
Items
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Browse all public portfolio deals

Insights

Time horizon

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Deal Distribution

MaRS: 43 funding rounds are recorded in the selected participation categories.All available history.
MaRS: 43 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed812
Series A13
Series B11
Series C+10
Other Equity55
Debt60

Monthly Deal Activity

MaRS: 43 deals are recorded across 186 months.All available history.
MaRS: 43 deals are recorded across 186 months. All available history
MonthDeals
May '111
Jun '110
Jul '110
Aug '110
Sep '110
Oct '110
Nov '110
Dec '110
Jan '120
Feb '120
Mar '120
Apr '120
May '121
Jun '120
Jul '120
Aug '120
Sep '120
Oct '120
Nov '120
Dec '120
Jan '130
Feb '130
Mar '130
Apr '130
May '130
Jun '130
Jul '130
Aug '130
Sep '130
Oct '131
Nov '132
Dec '130
Jan '141
Feb '140
Mar '140
Apr '140
May '141
Jun '140
Jul '140
Aug '142
Sep '140
Oct '140
Nov '140
Dec '140
Jan '150
Feb '150
Mar '150
Apr '150
May '150
Jun '150
Jul '150
Aug '150
Sep '151
Oct '150
Nov '150
Dec '150
Jan '160
Feb '160
Mar '160
Apr '160
May '160
Jun '160
Jul '160
Aug '160
Sep '160
Oct '160
Nov '160
Dec '160
Jan '170
Feb '170
Mar '170
Apr '170
May '170
Jun '170
Jul '170
Aug '171
Sep '170
Oct '170
Nov '170
Dec '171
Jan '180
Feb '180
Mar '181
Apr '180
May '180
Jun '180
Jul '180
Aug '180
Sep '180
Oct '180
Nov '180
Dec '180
Jan '191
Feb '190
Mar '191
Apr '190
May '190
Jun '191
Jul '191
Aug '190
Sep '190
Oct '190
Nov '190
Dec '190
Jan '200
Feb '200
Mar '200
Apr '200
May '200
Jun '201
Jul '200
Aug '201
Sep '200
Oct '200
Nov '200
Dec '200
Jan '210
Feb '210
Mar '210
Apr '210
May '211
Jun '211
Jul '211
Aug '210
Sep '210
Oct '211
Nov '212
Dec '210
Jan '221
Feb '221
Mar '220
Apr '220
May '220
Jun '220
Jul '220
Aug '221
Sep '220
Oct '220
Nov '221
Dec '220
Jan '230
Feb '230
Mar '232
Apr '230
May '230
Jun '230
Jul '230
Aug '230
Sep '231
Oct '230
Nov '230
Dec '230
Jan '240
Feb '240
Mar '240
Apr '240
May '240
Jun '240
Jul '241
Aug '241
Sep '244
Oct '241
Nov '240
Dec '241
Jan '250
Feb '250
Mar '250
Apr '250
May '250
Jun '250
Jul '250
Aug '250
Sep '251
Oct '250
Nov '250
Dec '250
Jan '260
Feb '260
Mar '260
Apr '260
May '260
Jun '261
Jul '260
Aug '260
Sep '261
Oct '260

Sector Breakdown

MaRS: E-Commerce & Retail is the largest displayed sector by deal count (15 deals).All available history.

A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.

MaRS: E-Commerce & Retail is the largest displayed sector by deal count (15 deals). All available history
SectorDeals
E-Commerce & Retail15
Networks, Cloud & Communication15
Enterprise Software13
Data, Analytics & IT11
Professional Services9
Marketing & Advertising8
AI & Machine Learning8
Consumer & Lifestyle6
Fintech6
Health & Life Sciences6
Education & Workforce5
Transportation & Logistics5
Media & Entertainment4
Real Estate & Construction3
Government & Defense2
Cybersecurity & Privacy2
AR/VR2
Clean Energy & Sustainability2
Hardware & Robotics2
Manufacturing2
Food & Agriculture2
Developer Tools2
Space & Frontier Tech1
Crypto & Blockchain1

Deal Size Distribution

MaRS: 43 rounds have a disclosed size in the displayed size bands.All available history.

Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.

MaRS: 43 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M27
$5M-$10M4
$10M-$25M1
$25M-$50M6
$50M-$100M1
$100M-$250M3
$250M-$500M1
$500M-$1B0
$1B+0

Deals By Geography

MaRS: Canada has the largest recorded deal count among the displayed regions (22 deals).All available history.

Top 8 of 8 regions; European countries are grouped as Europe.

MaRS: Canada has the largest recorded deal count among the displayed regions (22 deals). All available history
RegionDeals
Canada22
Europe8
India7
United States2
H1w 2m11
Singapore1
Australia1
1100071
MaRS: 20 co-investors are shown, with AQC Capital sharing 3 recorded deals.All available history.

Co-Investors

Bubble size = shared deals

Click a bubble to open that fund in a new tab.

Shows up to 20 co-investors ranked by shared deals. Deals may be shared with multiple funds, so rows overlap. Capital is total round size, not fund cheque size.

MaRS: 20 co-investors are shown, with AQC Capital sharing 3 recorded deals. All available history
Co-investorShared deals
AQC Capital3
BDC Capital3
Liquidity Capital3
Anges Québec2
GreenSky Ventures2
Mistral Venture Partners2
500 Global1
83North1
Accel-Rx Health Sciences Accelerator1
Ames Seed Capital1
Amplify Capital1
AngelList1
Aperture Group1
Auctus Capital1
Bertelsmann1
Blindspot Ventures1
C-Suite Angels from Retailers1
Cycle Momentum1
Dallas Venture Capital1
Desjardins Capital1

Investment Strategy

MaRS: Led accounts for 51% and participating for 49% of round participation.All available history.
MaRS: Led accounts for 51% and participating for 49% of round participation. All available history
CategoryDeals (count)Share (%)
Led2251%
Participating2149%
MaRS: Single-lead accounts for 59% and co-led for 41% of lead dynamics.All available history.
MaRS: Single-lead accounts for 59% and co-led for 41% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead1359%
Co-led941%

Team

Kosuke Nekoshima

Non-Executive Employee

Ron Daniel

Founder & CEO