AI-focused VC firm launched a new $800-million USD growth fund in August.
Toronto-based artificial intelligence (AI)-focused venture capital (VC) firm Radical Ventures has tapped Richa Mehta as its newest partner.
Mehta will help lead Radical’s growth strategy, taking on typical partner responsibilities like leading investments, taking board seats, interfacing with limited partners, and helping grow Radical’s team, Radical partner Aaron Brindle told BetaKit in an email statement.
“Static software will soon be replaced by AI-powered software.”
Aaron Brindle
Radical Ventures
Before joining Radical, Mehta worked out of New York City as the youngest-ever Principal at investment firm ICONIQ Capital, according to the Brindle. While there, she sourced investments in Drata, Hightouch, and IncidentIQ, and worked on investments in companies such as 1Password, CrowdStrike, and Virtru. Prior to that, she worked on the technology investing team at growth equity firm General Atlantic.
Brindle said Mehta will be based out of Radical’s San Francisco Bay area office, adding that Mehta’s experience in growth-stage tech investing across cybersecurity, vertical SaaS, infrastructure, and horizontal application software “resonated deeply” with Radical as it launched its latest growth fund.
“Traditional software is undergoing a massive replacement cycle – static software will soon be replaced by AI-powered software,” Brindle said. “Richa has seen this transformation up close and will be an incredibly valuable addition to our growing team.”
Founded in 2017, Radical invests primarily in Canadian and international startups that leverage AI. The firm is led by managing partner Jordan Jacobs, also the co-founder of AI research hub Vector Institute and AI startup Layer 6, which was acquired by TD in 2018.
RELATED: Radical Ventures launches $800-million USD AI growth fund
Radical’s portfolio includes many of Canada’s buzziest AI startups, including Toronto-based large language model developer Cohere, autonomous driving company Waabi, AI chip startup Untether AI, and quantum computing firm Xanadu.
The firm launched its fifth and largest fund to date back in August; an $800-million USD growth fund that will focus exclusively on growth-stage AI startups. The new fund brought the firm’s assets under management up to $1.8 billion.
The addition of Mehta follows a leadership expansion at Radical back in 2021, where it added its first San Francisco-based partner in Rob Toews as part of an initiative to expand its presence in Silicon Valley and tackle the expanding market for AI investment. Yesterday, San Francisco-based AI startup Writer announced that Radical co-led its $200 million USD Series C round at a $1.9 billion valuation, and that Toews would consequentially be joining its board.
With files from Josh Scott.
Feature image courtesy Radical Ventures.
