On September 15, 2026, Toronto-based Radical Ventures unveiled its Radical Breakouts Fund at PM Mark Carney's inaugural Canada Investment Summit, hitting a first close of over $1 billion USD (about $1.4 billion CAD) toward a multi-billion-dollar target. Backers include PSP Investments, CPP Investments, HOOPP, TD, and BMO; the fund targets late-stage Canadian and global AI scaleups.
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Radical Ventures launches Canada's largest AI fund at $1B USD first close
Why this matters for founders
AI founders scaling past Series B now have a homegrown, deep-pocketed growth investor (behind Cohere and Waabi) that can lead large rounds and help keep the company Canadian instead of forcing a US raise.
Source: BetaKit
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