AI-focused venture capital firm Radical Ventures has announced the final close of its $650 million USD (approximately $907 million CAD) early-stage AI fund, solidifying its position as one of the largest dedicated AI investors globally.
The new fund includes a $75 million USD commitment from the Canada Pension Plan Investment Board (CPPIB) — bringing CPPIB’s total investment across Radical’s funds to $280 million USD since 2019.
“We’re proud to continue deepening our relationship with long-term institutional partners,” said Aaron Brindle, Partner at Radical Ventures. “While we can’t disclose other LPs, they include major pension funds, endowments, and global institutional investors.”
Expanding Radical’s global AI portfolio
The new vehicle marks Radical’s fourth early-stage fund and sixth overall, following its $800M USD growth-stage fund launched in 2024. It will replace the firm’s previously announced 2023 fund, which had targeted $550 million USD.
It is expected to begin deploying capital imminently, with a continued focus on early-stage companies leveraging artificial intelligence in science, infrastructure, and enterprise innovation.
Radical’s earlier funds have backed some of Canada’s leading AI companies, including:
- Xanadu — a Toronto-based quantum computing pioneer.
- Cohere — developer of large language models powering enterprise AI tools.
- Waabi — an autonomous driving company applying generative AI to simulation.
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Backing global AI innovation from Canada
Founded in 2017 by Jordan Jacobs, co-founder of the Vector Institute and Layer 6 AI (acquired by TD Bank in 2018), Radical Ventures has built a transatlantic presence with offices in Toronto, London, and San Francisco.
The firm invests globally but maintains a deep connection to Canada’s AI ecosystem, which has become a hub for foundational AI research and startups. Its investors and advisors include industry luminaries such as Geoffrey Hinton, often referred to as the “Godfather of AI,” and Fei-Fei Li, a pioneer in computer vision and AI ethics.
A defining moment for AI venture capital
Radical’s latest fund underscores a broader shift in global venture activity toward AI-first innovation. With institutional investors like CPPIB increasing their exposure to the sector, Canada continues to strengthen its position as a strategic hub for AI development and commercialization.
“AI is entering a new phase — one defined by real-world application and value creation,” said Jordan Jacobs, Managing Partner at Radical Ventures. “Our mission is to back the founders building that future.”
About Radical Ventures
Radical Ventures is a Toronto-based venture capital firm focused exclusively on artificial intelligence and deep technology. Founded in 2017, the firm partners with early and growth-stage companies building transformative AI applications across science, industry, and society.
Radical manages more than $1.5 billion USD in assets and has invested in category leaders such as Cohere, Waabi, Xanadu, and Sanctuary AI. The firm’s investors include TD, Wittington Investments, CPPIB, and leading AI researchers and entrepreneurs.
