Toronto-based AI investor Radical Ventures has closed over $1 billion for its new late-stage growth fund, the Radical Breakouts Fund, making it the largest venture capital raise in Canadian history. The fund, announced at Prime Minister Mark Carney’s Canada Investment Summit, is backed by major Canadian institutional investors including PSP Investments, CPP Investments, HOOPP, TD, and BMO. The firm plans to deploy checks up to $250 million per company, targeting approximately 12 investments. Its portfolio already includes AI companies Cohere, Waabi, and Xanadu. The stated goal is to keep AI decision-making and returns in Canada rather than seeing companies relocate to the US to raise growth capital.
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