Eric Schmidt family office invests in Radical Ventures AI fund

Toronto-based Radical Ventures has closed a $650 million USD ($907 million CAD) early-stage AI fund, replacing its previously targeted 2023 vehicle and beginning deployment imminently. The fund is anchored by a $75 million USD commitment from the Canada Pension Plan Investment Board (CPP Investments), bringing CPP Investments’ total since 2019 to $280 million USD across Radical funds. While most limited partners remain undisclosed, major institutional investors, pension funds, and endowments are among the backers, and—per prior reporting—Hillspire, the family office of former Google CEO Eric Schmidt, has also committed. Founded in 2017 and led by Jordan Jacobs, Radical invests in AI companies in Canada and abroad, with a portfolio that includes Cohere, Waabi, and Xanadu; it also raised an $800 million USD growth fund in August 2024 with LPs such as TD, Wittington Investments, and AI leaders Geoffrey Hinton and Fei-Fei Li.

Hillspire LLC: The family office of Eric and Wendy Schmidt

Hillspire, LLC is the integrated family office that manages the business and philanthropic activities of Eric and Wendy Schmidt, supporting 700+ employees and providing legal, finance, accounting, facilities and real estate, HR, and IT services. Within Hillspire, the Office of Eric and Wendy Schmidt advances initiatives for a healthy, resilient, and secure world through several organizations: The Schmidt Family Foundation (via The 11th Hour Project—fresh air, clean water, healthy food—and Schmidt Marine Technology Partners—tech to restore ocean health); Schmidt Ocean Institute, a virtual institute operating the research vessel Falkor (too) for scientists worldwide and catalyzing ocean exploration and public engagement; Schmidt Sciences, which deepens understanding of the natural world and builds science- and technology-driven solutions; 11th Hour Racing, partnering with the sailing community and maritime industry to protect and restore ocean health; and Remain, which supports the economic, social, and environmental vitality of Nantucket.

Picture Source: Unsplash+ (8.10.2025)
Article Source: Betakit (08.10.2025)