Royal Bank of Canada launched a $1.4 billion (US$1 billion) initiative to invest in Canadian technology companies. The new RBCx Growth Fund I will provide direct equity to firms with potential for global expansion. RBC will leverage its market position to identify and accelerate these high-growth businesses.
The fund prioritizes enterprise software focusing on artificial intelligence and cybersecurity. Target sectors also include health tech, energy, climate tech, and agricultural technology. The initiative further covers frontier technologies such as aerospace and quantum computing. This strategy aims to foster the development of Canada's next wave of global tech leaders.