Great-West bets $150 million on AI Fund

Power Corporation, Great-West Lifeco , and IGM Financial announced a combined $150 million investment in the newly established Sagard AI Fund, a closed-end vehicle focused on backing AI companies across financial services and other sectors.

The companies said the investment is part of a broader strategy to engage with AI as a “foundational technology,” with an emphasis on productivity, talent development, and improving client and advisor experiences. The fund is expected to provide access to AI market intelligence, commercial partnership opportunities, and potential follow-on investments in companies aligned with the group’s businesses.

Power Corporation, Great-West, and IGM said AI is expected to play a growing role across insurance, wealth management, asset management, and retirement services, helping improve decision making, operational efficiency, and the delivery of financial advice over time.

Sagard manages more than $46 billion in assets and invests across venture capital, private equity, private credit, and real estate.