Launch of largest venture capital fund in Canadian history
On September 15, 2026, Radical Ventures announced the first close of the Radical Breakouts Fund, a new late-stage strategy that secured more than US$1 billion in commitments and that the firm describes as the largest-ever venture capital fund in Canada.
Commitments came from the Public Sector Pension Investment Board (“PSP Investments”), Canada Pension Plan Investment Board (“CPP Investments”), Healthcare of Ontario Pension Plan (“HOOPP”), TD Bank Group (“TD Bank”), BMO Financial Group (“BMO”), CI Global Asset Management and OPTrust, alongside other global investors.
The multi-billion-dollar Radical Breakouts Fund will invest in AI scale-ups on a path to becoming the next trillion-dollar business. It is designed for a market in which the most valuable companies stay private far longer than they once did, raising successive large private rounds and reaching the public markets already worth US$100 billion or more. Capturing that value requires private capital at a scale that has, until now, existed almost exclusively in the United States. The fund also gives Canadian AI companies a domestic source of growth-stage capital at the scale they require.
Further information can be found on PR Newswire’s website.
PSP Investments is one of Canada's largest pension investors with C$320.6 billion of net assets under management as of March 31, 2026. It manages a diversified global portfolio composed of investments in capital markets, private equity, real estate, infrastructure, natural resources, and credit investments.
CPP Investments is a professional investment management organization that manages the Canada Pension Plan Fund in the best interest of more than 22 million contributors and beneficiaries of the Canada Pension Plan.
HOOPP is one of Canada's largest defined benefit pension plans, serving Ontario's healthcare community. It manages approximately C$132 billion in net assets and provides retirement security to more than 500,000 active and retired members.
TD Bank is the sixth largest bank in North America by assets and serves 28.2 million clients in four key businesses operating in a number of locations in financial centres around the globe: Canadian Personal and Commercial Banking, U.S. Banking, Wealth Management and Insurance, and Wholesale Banking. TD had $2.1 trillion in assets on July 31, 2026
BMO is the eighth largest bank in North America by assets, with total assets of C$1.5 trillion as of July 31, 2026. Serving clients for more than 200 years, It provides a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services across Canada, the United States, and select markets globally.
CI Global Asset Management is one of Canada's largest investment management companies, providing investment solutions to retail and institutional investors across a broad range of asset classes and strategies. It is a subsidiary of CI Financial Corp., a global asset and wealth management company.
OPTrust, one of Canada's largest pension funds, invests and manages over C$27 billion in net assets on behalf of more than 118,000 members.