Radical Ventures Secures Over $1 Billion for AI Fund

Sep 15, 2026
Radical Ventures secured more than US$1 billion at the first close of a fund focused on later stage AI companies in Canada and other markets.

Radical Ventures announced in a press release the first close of its Radical Breakouts Fund, securing more than US$1 billion in commitments. The firm described it as the largest venture capital fund in Canadian history.

Investors include PSP Investments, CPP Investments, HOOPP, TD Bank Group, BMO Financial Group, CI Global Asset Management, OPTrust and other global investors. The announcement was made in Toronto on 15 September during the inaugural Canada Investment Summit.

The late stage fund will invest in AI scale ups with the potential to become major global companies, including businesses approaching public markets at valuations of $100 billion or more. Radical says it will give Canadian AI companies a domestic source of late stage capital while also investing in leading AI companies globally, and managing partner Jordan Jacobs said it is intended to address Canada's shortage of capital for scaling AI companies. Radical Ventures identified Cohere, Waabi, Xanadu, Veeda, Aspect Biosystems, Discovery Loop, World Labs, Etched and Crusoe among companies in its portfolio.

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