Radical Ventures, a Toronto, Canada-based venture capital firm investing in entrepreneurs applying deep tech to transform massive industries, launched a new USD $350m fund focused primarily on artificial intelligence.
Cornerstone LPs include:
– Canada Pension Plan Investment Board (CPPIB),
– the Public Sector Pension Investment Board (PSP Investments),
– TD Bank Group, and
– Wittington Investments Limited.
Founded in 2017 by Jordan Jacobs, Tomi Poutanen, Benji Sucher, Maks Volkovs, Radical Ventures seeks investments in companies developing AI products or applying AI to create a competitive advantage in massive markets, concentrating on 1) pre-seed and seed investments and 2) Series A stage investments with the ability to continue making investments through the growth stages of portfolio companies.
In addition to the fund launch, the firm is adding Ed Clark as a partner while McKinsey & Company Global Managing Director Dominic Barton joined as senior advisor. Clark and Barton will provide portfolio companies with mentoring and advice and access to their extensive global networks.
Salim Teja, former president, Venture Services of MaRS Discovery District in Toronto, also joined Radical as partner and general manager. His responsibilities will include overseeing Radical’s Impact Team, designed to help portfolio companies accelerate their global growth.
Poutanen and Volkovs are also advisors to Radical Fund II.