Xanadu Quantum Technologies Ltd Schedule 13G filed by Radical Ventures II GP Inc. and affiliated funds reports beneficial ownership stakes in the company's Class B Subordinate Voting Shares.
Radical GP is reported with 11,898,488 shares (21.56%), Radical Ventures Fund II, L.P. with 9,968,423 shares (19.08%), and Radical Ventures Fund II (International), L.P. with 1,930,065 shares (4.27%), based on 43,284,437 SVS outstanding as of March 26, 2026. The filing states those holdings consist of Class A Multiple Voting Shares convertible into SVS on a share‑for‑share basis. The filing is signed by Jordan Jacobs as Chief Executive Officer.
Positive
None.
Negative
None.
Insights
Large institutional holders report combined influence via shared voting and dispositive power.
The filing shows Radical GP and its affiliated funds control a material block of voting power: 11,898,488 shares are listed under shared voting/dispositive power for Radical GP while Fund II holds substantial sole voting/dispositive power. This structure implies consolidated voting influence through the general partner relationship.
Key dependencies include the conversion mechanics from Class A MVS into SVS and any governance agreements among the Funds. Subsequent filings or proxy disclosures would clarify coordinated voting intentions; timing and cash‑flow treatment are not detailed in the excerpt.
Key Figures
Total SVS outstanding:43,284,437 sharesRadical GP beneficial ownership:11,898,488 sharesRadical Ventures Fund II ownership:9,968,423 shares+1 more
4 metrics
Total SVS outstanding43,284,437 sharesas of March 26, 2026
Radical GP beneficial ownership11,898,488 shares21.56% of Class B SVS
Radical Ventures Fund II ownership9,968,423 shares19.08% of Class B SVS
Radical Ventures International ownership1,930,065 shares4.27% of Class B SVS
Key Terms
Class B Subordinate Voting Shares, Class A Multiple Voting Shares (MVS), beneficially owned, shared dispositive power, +1 more
5 terms
Class B Subordinate Voting Sharesregulatory
"Title and Item 2(d) lists the security class as Class B Subordinate Voting Shares"
Class B subordinate voting shares are a type of common stock that carry fewer or weaker voting rights than a company's primary share class, meaning holders have less influence over corporate decisions. For investors this matters because these shares often trade at different prices, can affect control of the company, and may offer similar entitlement to dividends despite reduced governance power—like holding a regular concert ticket while someone else has the VIP pass.
Class A Multiple Voting Shares (MVS)regulatory
"Item 4 states such shares consist of Class A Multiple Voting Shares convertible into Class B SVS"
beneficially ownedfinancial
"Item 4(a) lists amounts beneficially owned by each Reporting Person"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
shared dispositive powerregulatory
"Item 4(c)(iv) shows Radical GP with shared dispositive power of 11,898,488"
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Xanadu Quantum Technologies Ltd
(Name of Issuer)
Class B Subordinate Voting Shares
(Title of Class of Securities)
98390R102
(CUSIP Number)
03/26/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
98390R102
1
Names of Reporting Persons
Radical Ventures II GP Inc.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CANADA (FEDERAL LEVEL)
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
11,898,488.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
11,898,488.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
11,898,488.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
21.56 %
12
Type of Reporting Person (See Instructions)
CO
SCHEDULE 13G
CUSIP Number(s):
98390R102
1
Names of Reporting Persons
Radical Ventures Fund II (International), L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
ONTARIO, CANADA
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
1,930,065.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
1,930,065.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,930,065.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.27 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
98390R102
1
Names of Reporting Persons
Radical Ventures Fund II, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
ONTARIO, CANADA
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
9,968,423.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
9,968,423.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
9,968,423.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
19.08 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Xanadu Quantum Technologies Ltd
(b)
Address of issuer's principal executive offices:
777 Bay Street, Suite 2400, Toronto, Ontario M5G 2C8 Canada
Item 2.
(a)
Name of person filing:
This statement is being filed by Radical Ventures II GP Inc. ("Radical GP"), Radical Ventures Fund II (International), L.P. ("International") and Radical Ventures Fund II, L.P. ("Fund II" and together with International, the "Funds"). Radical GP is the sole general partner of the Funds. Radical GP, International and Fund II are sometimes individually referred to herein as a "Reporting Person" and collectively as the "Reporting Persons".
(b)
Address or principal business office or, if none, residence:
The address of the principal business office of the Reporting Persons is:
59 Hayden Street, Suite 300
Toronto, Ontario
M4Y 0E7
(c)
Citizenship:
Canada
(d)
Title of class of securities:
Class B Subordinate Voting Shares
(e)
CUSIP Number(s):
98390R102
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
Radical GP - 11,898,488 shares
International - 1,930,065 shares
Fund II - 9,968,423 shares
Such shares consist of Class A Multiple Voting Shares ("MVS") which are convertible into Class B Subordinate Voting Shares ("SVS") on a share-for-share basis.
(b)
Percent of class:
Radical GP -21.56%
International - 4.27%
Fund II - 19.08%
The percentages of shares beneficially owned set forth above are based on a total of 43,284,437 SVS outstanding as of March 26, 2026.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Radical GP - 0 shares
International -1,930,065 shares
Fund II - 9,968,423 shares
(ii) Shared power to vote or to direct the vote:
Radical GP - 11,898,488 shares
International - 0 shares
Fund II - 0 shares
(iii) Sole power to dispose or to direct the disposition of:
Radical GP - 0 shares
International - 1,930,065 shares
Fund II - 9,968,423 shares
(iv) Shared power to dispose or to direct the disposition of:
Radical GP - 11,898,488 shares
International - 0 shares
Fund II - 0 shares
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
Not Applicable
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
What stake does Radical Ventures report in Xanadu (XNDU)?
Radical Ventures II GP Inc. reports beneficial ownership of 11,898,488 shares (21.56%) of Class B Subordinate Voting Shares, based on 43,284,437 SVS outstanding as of March 26, 2026. The holdings are reported across affiliated funds.
How are the Radical Ventures holdings split among its funds?
Holdings are split as Fund II: 9,968,423 shares (19.08%) and International: 1,930,065 shares (4.27%), with Radical GP shown as the general partner holding shared power over 11,898,488 shares (21.56%).
Do the reported shares include convertible voting shares?
Yes. The filing states the reported shares consist of Class A Multiple Voting Shares (MVS) which are convertible into Class B Subordinate Voting Shares (SVS) on a share‑for‑share basis, per the filing text.
What voting or dispositive powers are disclosed?
Radical GP is shown with 11,898,488 shared voting and shared dispositive power. Fund II and International are listed with sole voting and sole dispositive powers of 9,968,423 and 1,930,065 shares respectively, per the filing.
Who signed the Schedule 13G for Radical Ventures?
The Schedule 13G excerpt is signed by Jordan Jacobs, Chief Executive Officer, with signature dates shown as 05/06/2026 in the filing text.
