MaRS Investment Accelerator Fund Names William Ma as Managing Director
One of Canada’s most active seed funds with $100 million invested, $2.3 billion in follow-on capital catalyzed and more than 200 ventures backed, bets on internal succession to drive its next chapter.
TORONTO, April 20, 2026 – MaRS Discovery District today announces William Ma managing director of the MaRS Investment Accelerator Fund (IAF). Ma joined IAF in 2023 as director of investment, leading investment decisions and portfolio support through a significant period of growth.
The announcement comes at a strong moment for the fund. Since its launch in 2008, IAF has invested more than $100 million in early-stage Ontario companies, catalyzing more than $2.3 billion in follow-on capital. More than 200 ventures have been backed, with more than 50 exits. Three-quarters of portfolio companies have secured follow-on funding, a signal that IAF’s early-stage bet consistently brings other investors to the table.
As an evergreen fund, IAF reinvests returns to fuel the next generation of founders — a structure that has enabled the fund to remain active through multiple economic cycles. The fund deploys approximately $10 million annually across pre-seed and seed-stage investments in AI, digital health, cleantech, fintech and enterprise software, including follow-on support. New investments in FY26 include Sellit9, Falcon, Aslan Renewables, Fertility Billing Solutions, PRE, and MedReddie.
Prior to joining IAF, Ma was an operator at several firms. He joined Plooto at the seed stage and supported its growth, and later led finance and operations at Validere Technologies, backed by BlackRock and Greylock. He also co-founded a Y Combinator–-backed startup and is a CFA charterholder. His appointment follows a rigorous search led by the MaRS IAF Board and supported by executive search firm Boyden; the process confirmed the right candidate was already working at the fund.
“William has demonstrated exactly what this fund needs: founder-first focus, investment discipline and a genuine belief in what patient capital can do for the ecosystem,” says Grace Lee Reynolds, CEO, MaRS Discovery District. “His sophisticated understanding of early-stage investing, strong relationships across that ecosystem and a clear commitment to this work make him the right person to lead MaRS IAF.”
“The best thing about IAF is that it was built to do what most investors aren’t able to do,” says William Ma, managing director, MaRS IAF. “We invest early, we stay patient and we focus on building durable companies that drive long-term returns. Ontario has extraordinary founders building in complex categories, and they deserve a fund that treats the earliest cheque as the most important one.”
About MaRS Investment Accelerator Fund
Launched in 2008, the MaRS Investment Accelerator Fund (IAF) is one of Canada’s most active seed-stage venture capital funds, investing in early-stage technology companies across Ontario. As an evergreen fund, IAF reinvests returns to support the next generation of founders, backing companies with capital, connections and the resources of the MaRS ecosystem. With a deep commitment to Ontario’s innovation ecosystem, MaRS IAF is a multi-sector fund that provides consistent, long-term support to technology founders, combining capital with mentorship, deep networks and customer access to help build globally competitive, transformative companies. For more information, visit, visit www.marsiaf.com
About MaRS
MaRS Discovery District is a charitable organization and one of North America’s largest urban innovation hubs, helping Canadian science and technology companies commercialize and scale. Building on a 25-year legacy of supporting founders, MaRS connects ventures with capital, customers, talent and expertise through venture programming and partnerships. This includes MaRS Connect, a live marketplace that links commercially ready ventures with public- and private-sector buyers, partners and sources of capital. MaRS Discovery District also includes MaRS IAF, one of Canada’s most active seed-stage venture funds.
MaRS spans more than 1.5 million square feet of office, lab, meeting and event space in downtown Toronto across two locations — the MaRS Centre and MaRS Waterfront. Since 2010, MaRS-supported ventures have generated $11.5 billion in cumulative revenue, raised $19 billion in funding, and created and maintained more than 33,000 jobs.
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For more information:
Wendy Bairos
Director of Communications, MaRS
416-831-9820
wbairos@marsdd.com
www.marsdd.com
Social channels: MaRS and IAF