Radical Ventures Launches Largest Venture Capital Fund in Canadian History
Radical Ventures has announced the first close of its Radical Breakouts Fund, marking it as Canada's largest venture capital fund to date. The strategy focuses on late-stage investments in AI scale-ups with potential for global growth and is backed by over US$1 billion from major institutional investors including PSP Investments, CPP Investments, HOOPP, TD Bank Group, BMO Financial Group, CI Global Asset Management, and OPTrust. The fund aims to address the gap in domestic late-stage capital that has historically driven Canadian AI companies to seek funding abroad. By providing large-scale private financing locally, Radical Ventures seeks to retain value creation within Canada while supporting global expansion of its portfolio firms such as Cohere, Waabi, Xanadu, Veeda, and Aspect Biosystems. Jordan Jacobs, Managing Partner at Radical Ventures, emphasized the firm's success in backing high-potential AI startups from inception through scale. The fund is expected to enhance Canada’s position in global innovation by enabling domestic pension funds and institutional investors to capture value previously lost overseas.
Topics: AI Canadian Investors Investment Funds Venture Capital