Sentence: Canada made investments abroad with many private owned firms...

Is this sentence correct?

I based the sentence on this definition of WITH:

WITH
27. Used as a function word to indicate close association: With the advent of the rockets, the Space Age began.

Canada made investments abroad with many private owned firms and investment enterprises ranging in the thousands.

You need to use an adverb form ‘privately’ instead of the adjective ‘private’, but otherwise the sentence is okay. Your usage of ‘with’ is correct and appropriate in that sentence.

Appropriate with the definition which it was intended to match?