Toronto- and London-based Intrepid Growth Partners announced the final close of its inaugural fund at US$525 million (about C$730 million), US$25 million above target, on 14 September 2026. Co-founded by ex-CPPIB CEO Mark Machin, ex-OMERS growth head Mark Shulgan, and CDL co-founder Ajay Agrawal, it writes growth-stage cheques of up to US$50 million per company and has already made nine investments, four in Canada.
Why this matters for founders
Canadian AI startups at growth stage now have a large, domestically anchored lead investor writing cheques up to US$50M, a meaningful new option for closing the scale-up funding gap.
Source: BetaKit
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