Sapphire Venture, under the leadership of President Jai Das, intends to invest over $1 billion in AI enterprise startups, strengthening the global adoption of this transformative technology. With a strong commitment to supporting AI companies, Sapphire Venture plans to build internal infrastructure to ensure their success.
11 July 2023 – Sapphire Venture, led by President Jai Das, unveiled plans to invest over $1 billion in AI enterprise startups, doubling down on the technology’s rapid adoption by companies worldwide. Speaking at the Reuters Momentum conference, Das highlighted the transformative impact of AI on software development and committed to building the necessary infrastructure within the firm to support the success of AI companies.
With $10 billion in capital under management and an additional $3 billion awaiting deployment, Sapphire Venture will predominantly make direct investments in AI startups. A portion of the capital will also be allocated to early-stage AI-focused venture funds through their limited partner fund.
The emergence of generative AI technology, exemplified by OpenAI’s ChatGPT, has ignited a surge of investment activity among venture capitalists and major tech corporations. PitchBook data reveals that over the past six months, more than $40 billion has been poured into AI startups, accounting for nearly a quarter of total startup funding.
This investment boom coincides with the active pursuit of AI integration by global enterprises aiming to enhance internal efficiency and product offerings. Amid their endeavors, concerns surrounding data privacy and safety remain a top priority.
Headquartered in Palo Alto, California, Sapphire Venture has a track record of investing in AI-powered enterprise startups such as Clari and DataRobot. With a specific focus on software, the firm aims to support companies that facilitate easy access to AI by leveraging available data to enhance predictive capabilities. – Reuters