Canada will launch its first national sovereign wealth fund, the Canada Strong Fund, with an initial endowment of C$25 billion, as Prime Minister Mark Carney moves to strengthen long-term growth and reduce reliance on the United States. The fund will back major projects in energy, infrastructure, critical minerals, agriculture and technology. It will also allow Canadians to invest directly through a new retail product.
Carney said the plan is designed to make Canada stronger, more resilient and more independent amid rising trade tensions with the U.S. The government is expected to provide more details in its upcoming economic update, including how the fund will be financed and which projects will qualify for support.
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