Power Corp.’s Sagard alternative asset manager launches $150-million AI fund
Power Corp. of Canada has announced a $150-million investment in a new fund focused on artificial intelligence. The Sagard AI Fund LP will support AI companies across various sectors, aiming to enhance the technology's application in financial services. Evan Kerr has been appointed as the general partner to lead the fund, which seeks to leverage the extensive network of Sagard and Power's resources.
- ▪Power Corp. and its subsidiaries have launched the Sagard AI Fund LP with a combined investment of $150 million.
- ▪The fund will focus on investing in AI companies globally, remaining stage and sector agnostic.
- ▪Evan Kerr has joined Sagard as general partner, following his previous role at Georgian.
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ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountPower Corp. of Canada POW-T and its two main publicly traded subsidiaries announced a combined US$150-million investment Wednesday in a new fund focused on artificial intelligence.Power, along with Great-West Lifeco Inc. and IGM Financial Inc., provided the funding to establish Sagard AI Fund LP. The fund will back AI companies focused on accelerating use of the technology across financial services and other sectors, Power said in a release.Evan Kerr has joined Sagard to lead the fund as general partner, after serving as a lead investor with Georgian, the Toronto-based growth capital firm. He follows Parinaz Sobhani, the former head of AI at Georgian, who joined Sagard in a similar role two years ago. Mr.
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