Toronto-based Radical Ventures has announced the first close of its Radical Breakouts Fund, with more than US$1 billion in commitments, making it Canada’s largest venture capital fund to date.
The fund will target artificial intelligence scale-ups in Canada and abroad, with a focus on companies capable of becoming global leaders. Backers include TD Bank and BMO, which are supporting the effort to deepen domestic growth capital for Canadian AI companies. Radical Ventures co-founder Jordan Jacobs argues Canada has no shortage of world-class AI companies, but has lacked the scale of capital needed to keep them growing and headquartered at home.
Want to know more? Check out the source code on Fintech.ca.