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Radical Ventures is a venture capital and private equity firm investing in deep technology companies. It is headquartered in Toronto, Ontario, Canada, and was founded in 2017 by Benji Sucher, Jordan Jacobs, Maks Volkovs, and Tomi Poutanen. The firm focuses primarily on investing in machine learning and artificial intelligence companies. Notable companies Radical Ventures has invested in include RoadBotics, Sensibill, Xanadu, Tread, Landis, Inkbox, Virgo, Phenomic AI, and BenchSci.
In 2017, Radical Ventures raised just under $13 million CAD ($10,355,709 USD) for its first investment fund, Radical Fund I, focused on pre-seed and seed-stage investments.
On May 7, 2019, Radical Ventures announced that it was raising a $350 million fund called Radical Fund II. As of the announcement date, about half of the fund had been committed to companies in the series A stage. Limited partners of the fund include the Canada Pension Plan Investment Board (CPPIB), the Public Sector Pension Investment Board (PSP Investments), TD Bank, and Wittington Investments. Jordan Jacobs made the following statement regarding the firm's new fund:
AI is perhaps the most disruptive technology since electricity. It will transform the world, impacting everyone, and we are just at the beginning of its application. Toronto and Canada have led the world in developing AI that is disrupting industries from healthcare to finance to smart cities and everything in between. We are now seeing an explosion of AI startups in Toronto, across Canada and globally. Radical aims to back the most ambitious founders seeking to make a positive impact on the world.
On January 9, 2023, Radical Ventures announced it was raising a $550 million fund dedicated to investing in AI companies, targeting North American companies at the Series A stage and seed and Series B funding of companies in London and Tel Aviv. It has already started investing out of the new fund, which was reported as being mostly closed. So far, the firm has used the fund to invest in V7, Retrain, Hebbia, Enriched Ag, and several companies in stealth mode.
