Budget 2026: Canada Strong Fund
Budget 2026 would establish the Canada Strong Fund with an initial $25 billion over three years, to invest in Canada alongside private partners on commercial terms and take minority positions. It would be an arm's-length Crown corporation with its own board and CEO, with returns reinvested and a retail Canada Strong Notes product planned for 2027. Legislation and the Fund's detailed rules are still to come.
Seed funding and returns
Initial federal funding of $25 billion over three years, with returns reinvested in the Fund.
Sources
The government will provide an initial $25 billion over three years to seed the Fund, which will grow over time through reinvested returns and other assets that may be allocated to it. Operating at arm’s length and guided by a mandate to generate commercial returns, the Fund will help build a lasting pool of national wealth that supports Canada’s long-term prosperity.
Budget 2026 - Masters of our Destiny · PDF p. 180Full cited page
The government will provide an initial $25 billion over three years to seed the Fund, which will grow over time through reinvested returns and other assets that may be allocated to it. Operating at arm’s length and guided by a mandate to generate commercial returns, the Fund will help build a lasting pool of national wealth that supports Canada’s long-term prosperity.
The Fund will invest exclusively in Canada, alongside and on the same commercial terms as private partners. It will take minority ownership positions and operate independently from government.
Budget 2026 - Masters of our Destiny · PDF p. 48Full cited page
The Fund will invest exclusively in Canada, alongside and on the same commercial terms as private partners. It will take minority ownership positions and operate independently from government.
Governance and control
Arm's-length Crown corporation with an independent board and CEO, created by legislation.
Sources
Budget 2026 announces the government’s intention to bring forward legislation in the coming months to establish the Canada Strong Fund as an arm’s-length and standalone Crown corporation. In the interim period, the Canada Strong Fund will be incorporated as a wholly-owned subsidiary of the Canada Development Investment Corporation, with its own dedicated Board of Directors and Chief Executive Officer.
Budget 2026 - Masters of our Destiny · PDF p. 180Full cited page
Budget 2026 announces the government’s intention to bring forward legislation in the coming months to establish the Canada Strong Fund as an arm’s-length and standalone Crown corporation. In the interim period, the Canada Strong Fund will be incorporated as a wholly-owned subsidiary of the Canada Development Investment Corporation, with its own dedicated Board of Directors and Chief Executive Officer.
establish the Canada Strong Fund, including authorising it to be funded from the Consolidated Revenue Fund and to facilitate it offering a retail investment product.
Budget 2026 - Masters of our Destiny · PDF p. 383Full cited page
establish the Canada Strong Fund, including authorising it to be funded from the Consolidated Revenue Fund and to facilitate it offering a retail investment product.
How the Fund invests
Co-investments alongside federal support and selective direct strategic investments.
Sources
Under Stream 1: Co-investments, the Fund will work closely with federal entities providing support to projects or companies (e.g., a loan from the Canada Infrastructure Bank, a contribution agreement with the Strategic Response Fund).
Budget 2026 - Masters of our Destiny · PDF p. 180Full cited page
Under Stream 1: Co-investments, the Fund will work closely with federal entities providing support to projects or companies (e.g., a loan from the Canada Infrastructure Bank, a contribution agreement with the Strategic Response Fund).
Under Stream 2: Strategic Investments, the Fund will make selective investments on a commercial basis in high-potential projects and companies offering attractive long-term returns and supporting Canada’s economic strength and resilience.
Budget 2026 - Masters of our Destiny · PDF p. 180Full cited page
Under Stream 2: Strategic Investments, the Fund will make selective investments on a commercial basis in high-potential projects and companies offering attractive long-term returns and supporting Canada’s economic strength and resilience.
Canada Strong Notes
A retail note linked to the Fund with principal protection, planned for 2027.
Sources
In 2027, the government intends to launch Canada Strong Notes, a retail investment product linked to the Canada Strong Fund that will give Canadians the opportunity to invest alongside the Fund and share directly in its returns.
Budget 2026 - Masters of our Destiny · PDF p. 180Full cited page
In 2027, the government intends to launch Canada Strong Notes, a retail investment product linked to the Canada Strong Fund that will give Canadians the opportunity to invest alongside the Fund and share directly in its returns.
The Notes will provide principal protection, safeguarding Canadians’ initial investment while allowing them to benefit from the Fund’s performance.
Budget 2026 - Masters of our Destiny · PDF p. 180Full cited page
The Notes will provide principal protection, safeguarding Canadians’ initial investment while allowing them to benefit from the Fund’s performance.
Analysis of cited budget provisions. Proposals and forecasts are distinguished from implemented measures.
