CPPIB, PSP anchor launch of Radical Ventures' $470 mln AI fund
Radical Ventures, a Canadian venture capital firm focused on artificial intelligence (AI), has launched a new fund with a target of about $470 million (US$350 million). The fund's cornerstone limited partners include Canada Pension Plan Investment Board (CPPIB), Public Sector Pension Investment Board (PSP Investments), TD Bank Group and Wittington Investments Ltd. Radical was founded in 2017 by Jordan Jacobs, Tomi Poutanen, Benji Sucher and Maks Volkovs, previously executives with Toronto-based AI startup Layer 6, acquired in 2018 by TD. Radical's new fund will make early-stage and growth investments in mostly Canadian companies developing AI products or applying AI to create a competitive advantage in large markets.
7 May 2019•3 mins read
