Toronto-based Radical Ventures has closed a $900 million fund to back early-stage artificial intelligence startups globally. The new fund replaces the firm’s 2023 vehicle and marks Radical’s sixth overall. Backed by institutional investors, including a US$75-million contribution from the Canada Pension Plan Investment Board—which has now invested US$280 million across Radical funds since 2019—the fund will begin deploying capital imminently.
Founded in 2017 by Jordan Jacobs, Radical has invested in leading AI firms such as Cohere, Waabi, and Xanadu. The firm also operates an $800-million growth fund launched in 2024 targeting later-stage AI companies.
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