AI Investment Funds Continue Growing in Number
Andrew Ng, the ex-Baidu Chief Scientist is interesting in leading AI investment. He is raising a new fund devoted to Artificial Intelligence start-ups. The new fund, named AI Fund, L.P., seeks to raise US$150 million in total, according to their filing with the SEC and will focus on investing in AI companies targeting the fast growing AI market.
Mr. Andrew Ng is the Managing Partner of the new Fund.
However, it is still unclear which level of investments the Fund will focus nor which kind of AI or geographies is going to focus on.
“I have worked all my life in Machine Learning, and I’ve never seen an algorithm knock over Benchmarks like Deep Learning.”
Mr. Andrew Ng co-founded Coursera. Later, he left the search engine company Baidu, where he was VP in charge of AI, and founded an AI company called deeplearning.ai.
The year has been busy for AI funds, Google has rolled out Gradient Ventures, Basis Set Ventured drew in $136 million to their fund, Element.AI raised $102 million, Microsoft Ventures started an AI fund, and Toyota gathered $100 million to spend on AI investment. Ng’s recognition in the field should help him put together a decent fund to aid AI startups going forward.