Monads with arities and their associated theories

After a review of the concept of "monad with arities" we show that the category of algebras for such a monad has a canonical dense generator. This is used to extend the correspondence between finitary monads on sets and Lawvere's algebraic theories to a general correspondence between monads and theories for a given category with arities. As an application we determine arities for the free groupoid monad on involutive graphs and recover the symmetric simplicial nerve characterisation of groupoids.