The federal government is set to launch Canada’s first sovereign-wealth fund, Prime Minister Mark Carney announced Monday.

The Canada Strong Fund will be backed by an initial federal contribution of $25 billion.

The fund is intended to invest alongside private-sector and international partners in projects and companies tied to Canada’s economic transformation, including clean and conventional energy, critical minerals, agriculture and infrastructure. Ottawa said returns generated by the fund will be reinvested to expand its future investment capacity.

The federal government also plans to introduce a retail investment product that would allow Canadians to invest directly in the fund and share in its returns. Consultations on the design of the product will begin in the coming months.

Carney said the initiative is part of a broader push to strengthen Canada’s economy amid growing global uncertainty and support nation-building projects such as ports, mines, and trade and energy corridors.

“Canada’s new government is catalysing a series of nation-building projects in energy, trade, critical minerals, transport, data, and beyond – projects that will make Canada stronger, more resilient, and more independent,” Carney said. “Through the Canada Strong Fund, all Canadians will have the opportunity to share directly in these benefits. This is our country, this is your future, and we are building it together.”

Finance and National Revenue Minister François-Philippe Champagne said the fund would help spur investment and job creation while allowing Canadians to participate in the country’s growth.

“Canada’s next chapter of growth starts with investing at home,” Champagne said. “The Canada Strong Fund will invest in key, strategic Canadian projects and companies, creating good-paying jobs, supercharging innovation, and keeping Canada competitive in a rapidly changing world.”

Further details on the Canada Strong Fund are expected in the federal government’s Spring Economic Update 2026, which is scheduled to be tabled in the House of Commons on Tuesday.

The government said a transition office will be established to work with market participants and regulators on the fund’s governance, investment mandate and retail investment product. Ottawa also noted that since September 2025, 15 projects have been referred and six transformative strategies are in development through the Canadian Major Projects Office, representing more than $126 billion in potential investment.

During a news conference in Ottawa, Carney noted that several countries with abundant natural resources, such as Norway, have sovereign-wealth funds that have greatly expanded national coffers. He indicated that Canada’s proposed sovereign-wealth fund will invest first in Canadian projects and then could expand to include international investments.

Pictured: Tanker at LNG Canada dock in Kitimat, B.C. 

Photo: LNG Canada