The VC firm announced that it has closed the Sound Ventures AI Fund with approximately $240 million. The fund aims to invest in AI businesses in the core model layer. Currently, the fund’s portfolio of companies includes OpenAI, Anthropic and StabilityAI. Kutcher, Oseary and Effie Epstein lead Sound Ventures as general partners.
According to partners, AI technology has “reached an usability stage that has driven significant growth among businesses and consumers,” and the Sound Ventures team has experience in two industries that are at the heart of productive AI: technology and entertainment.
“We believe this is potentially the most important technology we will experience since the advent of the internet,” Kutcher said in a statement. “Basic model layer companies define the category, and we think they have the power to transform businesses and everyday life. This is a conversation we want to be in.”
Oseary said, “We anticipate that AI will play an influential role in everything we do, including entertainment, an industry we know well. The companies we support will be at the forefront of this powerful innovation, and Sound Ventures will leverage our diverse experience and expertise to responsibly support these AI core platforms. excited to present our connections.”
Epstein said Sound Ventures has already invested in artificial intelligence for the past ten years and “we believe this moment in history will determine the course of this technology.” “Our team is well positioned to continue investing in and supporting outstanding founders who are thoughtfully shaping the future through AI.”
The Sound Ventures AI Fund will invest alongside Sound’s early-stage funds. Founded in 2015, Sound Ventures manages more than $1 billion in assets; The firm’s previous investments include Airbnb, Uber, Flexport, Brex, GitLab, Airtable, Affirm, Forerought and You.com.