Toronto-based Radical Ventures has closed a US$650 million fund to invest in early-stage artificial intelligence companies, marking one of the largest AI-focused venture funds in Canada. Founded in 2017, Radical has been an early backer of leading AI firms including Cohere Inc. and Waabi Innovation Inc.
The new fund secured a US$75 million commitment from the Canada Pension Plan Investment Board (CPP Investments), which has now invested a total of US$280 million across Radical’s funds since 2019.
Jordan Jacobs, Radical’s co-founder and managing partner, said the firm remains focused on identifying high-potential founders amid an increasingly competitive AI market. Radical has invested in around 60 companies, including World Labs and Periodic Labs, as global funding for AI startups surpasses US$135 billion annually.
Featured image: Credit: Radical Ventures
