Radical Ventures, a Canadian venture capital firm specializing in artificial intelligence (AI), is close to securing nearly $800 million for a new fund, according to Bloomberg. This new fund will bring the firm’s total assets under management to approximately $1.8 billion and marks a shift toward investing in later-stage AI companies, moving beyond its initial focus on early-stage startups.
Founded seven years ago, Radical Ventures has backed prominent AI companies like Cohere Inc., Covariant Inc., Untether AI, and Genesis Therapeutics. With this new fund, the firm aims to lead larger investment rounds and expand its influence in the AI sector.
Co-founder and managing partner Jordan Jacobs stated that the firm can now take the lead in deals, although he declined to provide specific details on the fundraising process. Investors in Radical Ventures have included AI pioneers such as Fei-Fei Li and Geoffrey Hinton, along with institutions like TD Bank, Temasek, and Canadian pension funds.
