VC firm Sapphire Ventures says that it plans to invest more than $1 billion in AI-related enterprise startups, demonstrating the strong appetite among investors for cutting-edge AI tech.
Reuters reports that the $1 billion in capital will come from Sapphire’s existing funds, which have $10 billion under management and about $3 billion waiting to the deployed. The majority will be in the form of direct investments in AI startups, while some will go to early-stage AI-focused venture funds through Sapphire’s limited partner fund, Sapphire Partners.
Sapphire co-founder and CEO Nino Marakovic says that Sapphire will focus primarily on business-to-business software companies that “make AI easily accessible” by “leveraging data to better predict outcomes.” Beyond this, the firm will back AI and machine learning startups improving bu …
