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Laxman Pai, Opalesque Asia: Salesforce Ventures announced a new $500 million fund dedicated to AI companies. This is significant for several 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 down on Salesforce Ventures' backing of high-growth companies and visionary founders charting the future of AI, driving market-shifting innovation, and delivering strong returns while prioritizing their core values of trust and responsibility," said a press release from the investment firm founded in 2009, which is designed to invest in startups.
Salesforce Ventures connects portfolio companies with its ecosystem of leaders across the Fortune 500 and also helps startups balance trust, growth, and innovation through access to Salesforce's Office of Ethical and Humane Use and other experts, the release noted.
To date, Salesforce Ventures has invested in over two dozen 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 powered growth across our AI ecosystem, and we'll continue to incorporate learnings from across our business, partners, and customers to help build the AI leaders of tomorrow."
The new investments will continue to build on the orga...................... To view our full article Click here
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