Royal Bank of Canada announced on September 9, 2026 a US$1 billion initiative to invest in Canadian technology companies with the potential to scale into global powerhouses. Unveiled ahead of the Canada Investment Summit, the RBCx Growth Fund I will combine disciplined late-stage investing with RBC's scale, connectivity and advisory capabilities. The goal is to help Canadian companies grow into global leaders while keeping their economic upside at home.
Capital and Strategic Support for Scaling Firms
The fund is part of a broader $1.4 billion initiative, with RBC committing up to $416 million in direct equity investments. Investee companies will receive access to commercialization opportunities, strategic partnerships and expansion support that are often unavailable through traditional investors. The fund will target sectors where Canadian strengths in energy, agriculture, AI, healthcare and frontier technologies intersect with world-class research and talent.
Addressing a Late-Stage Funding Gap
RBC highlighted a significant gap in domestic leadership of late-stage technology deals. Over the past decade, approximately 74 per cent of U.S. growth rounds were led by U.S. investors, compared with just 33 per cent in Canada, where foreign investors fill the gap. The new fund is built to capture this opportunity by keeping more ownership, influence and economic upside within Canada.
Leadership and Investment Priorities
Sid Paquette, Head of RBCx, will lead the growth fund, bringing experience from RBC's technology and innovation arm. The fund will prioritize enterprise software with applied AI, cybersecurity and data analytics, health tech, frontier tech, energy and climate tech, and agricultural technology. RBCx says early discussions have already attracted significant interest from investors drawn to Canada's world-class innovators and growing investment confidence.
Support Beyond Capital
To accelerate portfolio company growth, RBC will bring together its market connectivity, talent advantage, sector expertise and asset management capabilities. The bank will also leverage the scale and reach of its commercial banking, capital markets and public-sector relationships. This support is designed to give Canadian companies access to resources that often remain out of reach when financing comes from foreign investors.
Executive Perspective
Dave McKay, President and Chief Executive Officer of RBC, said the ambition is a future where more of the world's next great companies build in Canada and stay in Canada. He noted that Canada has long produced an outsized share of entrepreneurs and tech talent who want to build global companies at home. When these companies are ready to scale, however, they too often get pulled elsewhere.
Canada's Investment Advantages
RBC also pointed to several factors that make Canada a top destination for long-term investment. The country ranked second globally in the 2025 Kearney FDI Confidence Index and is expected to be the second best G20 nation for doing business from 2026 to 2030. Canada also ranks first globally for the most educated workforce and second in the G7 for direct government funding and tax support for business research and development.
Through the RBCx Growth Fund I, RBC aims to amplify the compounding effects that occur when Canadian companies grow and scale at home. Those effects include attracting further investment, building stronger ecosystems and spawning new ventures. By combining capital with deep market relationships and sector expertise, RBC hopes to build a more durable and globally competitive economy.