Carney Government to Launch Canadian Tech Growth Fund as Part of National AI Strategy
By
JP Alegre
Toasted golden, schmeared with insight. Top of the rack.
Summary
The Carney government is set to release a national AI strategy this week that includes a new startup investment fund called the Canadian Tech Growth Fund. This fund will take direct government equity stakes in domestic artificial intelligence companies. It complements the Canada Strong Fund, a sovereign wealth fund announced in the April Spring Economic Update with an initial $25 billion budget.
Key quotes
· 3 pulledThe Carney government plans to launch a new startup investment fund that takes direct government equity stakes in artificial intelligence companies as part of its national AI strategy
The new vehicle, called the Canadian Tech Growth Fund, will target smaller investments in domestic AI companies.
It sits alongside the Canada Strong Fund — the sovereign wealth fund announced in the April Spring Economic Update with an initial $25 billion budget
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