News Summary

Toronto-based Radical Ventures has successfully closed a $650 million USD fund dedicated to early-stage artificial intelligence (AI) startups. This fund, primarily supported by a $75 million USD contribution from The Canada Pension Plan Investment Board, aims to back both Canadian and international AI companies. Radical Ventures, founded in 2017 and led by co-founder Jordan Jacobs, focuses on leveraging AI in its investments. The firm has a portfolio that includes prominent Canadian AI startups such as Cohere, Waabi, and Xanadu. The newly closed fund, which is Radical’s fourth in the early-stage category, is set to begin investments imminently.