MaRS appoints Emil Savov as Managing Director at Investment Accelerator Fund
Savov uniquely brings investment, tech industry and business experience to the role
TORONTO, July 21, 2022 – MaRS Discovery District is pleased to announce the appointment of venture capital and tech industry veteran Emil Savov as managing director of the MaRS Investment Accelerator Fund (IAF).
Savov joins the MaRS IAF to continue driving its role as Ontario’s leading seed stage investor, with a focus on IT, health and cleantech companies. The fund acts as a catalyst for attracting the follow-on funding and talent that companies need to grow and thrive.
The IAF targets early-stage technology companies that are close to commercialization. Ideal IAF companies have a product built and there is some early market traction.
“I am thrilled to welcome Emil to the MaRS IAF,” said Yung Wu, CEO of MaRS Discovery District. “His unique combination of investment, technology and business experience set him and the fund up for continued success in the next phase of the IAF.”
“I’m inspired and eager to take the reins of leadership at the MaRS IAF,” said Savov. “In our current economic environment, the need for pre-seed and seed stage investment in the leading technology companies of tomorrow has never been more important.”
In January, MaRS announced the creation of the Graphite IAF IV, a new public-private investment fund partially created with proceeds from the original IAF and is managed by Graphite Ventures. Graphite offers seed and Series A investments to early-stage and scaling companies with the most promise, and can act as the next stage in the funding process for companies that received initial financing from earlier-stage investors, such as the IAF. MaRS IAF and Graphite continue to work in close cooperation to manage the existing IAF portfolio and to finance new investment opportunities.
Savov and the IAF team will continue the IAF’s crucial work of identifying and supporting some of Canada’s most promising Ontario-based startups at the early stages of the commercialization journey.
Emil Savov has over 25 years of experience in the technology sector, encompassing industry, venture capital and investment banking roles in Canada and internationally. His most recent investment role was as Vice President of Investments, Venture Capital, at Fonds de solidarité FTQ, a large Montreal-based pension fund managing over $17 billion in assets, with a dual mandate for return on investment and economic development.
Previously, Emil worked at well-known technology companies such as Ciena Corporation as vice-president of corporate development and managing director of Ciena Ventures, and Newbridge Networks as director of business development. He was also a partner and managing director at two prominent Canadian venture capital firms: McLean Watson Capital and Terracap Ventures. As an investor and industry executive, Emil has made several important contributions to the technology sector in Canada. He has a strong VC investment track record and has served as a board director of numerous technology companies, as well as on the advisory boards of several VC funds. He has an extensive network of contacts throughout the entire technology and investment ecosystem in Canada and internationally.
Emil holds a PhD degree in Electrical Engineering from the University of Ottawa and an MBA from INSEAD in Fontainebleau, France.
About MaRS IAF
The MaRS Investment Accelerator Fund (IAF) helps build and strengthen Ontario-based businesses in the cleantech, ICT, and life sciences & healthcare sectors. Funded by the Province of Ontario, the IAF program is managed by MaRS and delivered through the Ontario Network of Entrepreneurs. For more information and to apply, please visit marsiaf.com.
About MaRS Discovery District
MaRS is North America’s largest urban innovation hub. A registered non-profit, MaRS supports high-growth startups and scale-ups tackling key issues in health, cleantech, fintech and other sectors. In addition, MaRS convenes all members of the tech ecosystem to drive breakthrough discoveries, grow the economy and make an impact by solving real problems for real people — in Canada and around the world.