ATB Ventures Steps up Its Investment in Deep Technology With Strategic Investment in Radical Ventures

Partnership Will Build on the Strengths of Alberta’s Technology Ecosystem and Growing Reputation as a Global Leader in AI

ATB Ventures, the innovation arm of leading Alberta-based financial institution ATB Financial, is making a strategic investment in Radical Ventures to advance ATB’s innovation efforts in applied AI and machine learning.

Toronto-based Radical is a leading AI-focused venture capital firm investing in entrepreneurs applying artificial intelligence to transform industries including financial services, healthcare and smart cities.   Alongside ATB, investors in Radical’s US$325 million fund include Canada’s largest pension fund CPPIB and PSP Investments.

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As AI continues to play a critical role in shaping the economy, collaborating closely with Radical means ATB can increase its partnerships and future acquisitions of emerging technology companies.  Although the pandemic has disrupted businesses across the board, AI-driven innovations and applications are being developed and adopted at an unprecedented rate.

“At ATB, we are building, investing and partnering with different technologies to keep Alberta and ATB at the forefront of the digital economy,” said Curtis Stange, President & CEO of ATB Financial.  “This means leveraging partners like Radical who are investing in startups that have deep technological expertise to offer our customers personalized and innovative services.”

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ATB continues to cement its position in the startup ecosystem and remains committed to supporting the talent pipeline of STEAM professionals in the province.  Effective partnerships and connections to firms like Radical ensure that ATB and Alberta-based AI-startups continue to grow and compete, globally.

Beyond the strategic benefits of the partnership, ATB’s investment in Radical also strengthens an important connection building on the growth and success of Alberta’s tech and venture capital ecosystem.

“We’re in the midst of a transformative moment. The research coming out of Amii and Alberta’s AI ecosystem has the capacity to shape the future of our economy,” said Jordan Jacobs, co-founder and managing partner of Radical Ventures. “Like ATB, we believe smart, patient capital with deep expertise in this space will play an important role in commercializing and transforming massive industries and building world-changing companies.”

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