Radical Ventures Unleashes $1 Billion Late-Stage Growth Fund
Toronto-based venture capital firm Radical Ventures has launched its largest fund yet, breaking Canadian records. The Radical Breakouts Fund, a late-stage growth fund, has raised over $1 billion after its initial close. This makes it the largest venture fund in Canadian history.
The fund is backed by prominent investors, including PSP Investments, Canada Pension Plan Investment Board (CPPIB), and HOOPP, along with several banks and asset managers. Radical co-founder Jordan Jacobs said the fund aims to back companies capable of reaching trillion-dollar valuations and help promising Canadian firms avoid moving to the US for capital.
The Radical Breakouts Fund is a significant development in the Canadian venture capital scene, providing opportunities for local startups to scale up without seeking foreign funding. This move may also lead to increased innovation and job creation within the country.