AI / Data Science · VC Firm · Active
Radical Ventures
Radical Ventures is a Toronto-based AI-focused VC founded 2017 by Jordan Jacobs, Tomi Poutanen and Salim Teja, with ~$800M AUM across three funds. Fund III $550M (2024 vintage).
Investment thesis
Radical Ventures is a Toronto-based AI-focused VC founded 2017 by Jordan Jacobs, Tomi Poutanen and Salim Teja, with ~$800M AUM across three funds. Fund III $550M (2024 vintage). Invests Seed to Series C across AI applications, foundation models, AI infrastructure. Cheques $2-30M.
Quantum bet: Xanadu (Toronto-based silicon-photonic quantum computing, $1B valuation Series C 2022). Thesis framing: quantum as AI compute infrastructure rather than standalone quantum platform.
Value-add: dominant Canadian AI network; Geoffrey Hinton and Yoshua Bengio as scientific advisors; NVIDIA NVentures and Sequoia co-investment relationships.
Not a quantum specialist — single bet framed through an AI lens. Valuable cap-table member for Canadian deep-tech founders at the AI-quantum intersection.
Anti-thesis
The patterns that trigger a fast no with this fund.
- Radical's explicit thesis is applied AI now, with Jordan Jacobs framing quantum as adjacent rather than core, LP narrative is built around foundation models and AI agents, making quantum allocation a thesis-dilution risk
- Toronto / Vector Institute roots create AI talent density advantage that doesn't translate to quantum, where the local ecosystem (Xanadu, Photonic) is already well-funded by strategics and government
- Fund size ($800M+ Fund III) and check size ($15 to 50M) require Series B+ entries, quantum lacks enough Series B-stage companies with the revenue traction Radical underwrites
- Jacobs has publicly argued the next decade belongs to AI applications, not new compute substrates, quantum-for-AI (QML) narratives are viewed skeptically given lack of demonstrated quantum advantage on ML workloads
- Canadian government (SIF, NRC) is crowding the quantum cap table with non-dilutive capital, compressing venture ownership and IRR, Radical prefers cleaner cap tables
Notable quantum portfolio
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