Salesforce’s VC Division Just Doubled Its AI Fund to $1 Billion

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Laxman Pai, Opalesque Asia:

Salesforce Ventures has announced a new $500 million fund dedicated to AI companies. This is significant for a few reasons. First, in June 2023, Salesforce Ventures doubled its AI fund from $250 to $500, so the additional $500 million brings the AI ​​fund to $1 billion.

“The fund doubles Salesforce Ventures’ support for high-growth companies and visionary founders who are defining the future of AI, driving disruptive innovation and delivering high returns while putting their core values ​​of trust and accountability first,” the startup investment firm, founded in 2009, said in a press release.

Salesforce Ventures connects portfolio companies with an ecosystem of Fortune 500 leaders and helps startups balance trust, growth, and innovation through access to Salesforce’s Office of Ethics and Humane Use and other experts, the release noted.

To date, Salesforce Ventures has invested in more than twenty AI companies, including market leaders such as Anthropic, Cohere, Runway, TogetherAI, Mistral AI, and Hugging Face.

John Somorjai, president of Salesforce Ventures, said: “The first $500 million we invested in this technology has fueled growth in our AI ecosystem, and we will continue to incorporate learnings from our business, partners and customers to help build the AI ​​leaders of tomorrow.”

New investments will continue to grow the organization……………..

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