Todd Spangler NY Digital Editor Sound Ventures, the venture-capital firm co-founded by Ashton Kutcher and music manager Guy Oseary, is looking to back “category-defining” artificial intelligence businesses.
The VC firm announced that it has closed Sound Ventures AI Fund, oversubscribed at nearly $240 million. The fund seeks to invest in AI businesses at the foundation 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 the partners, AI technology has “reached a stage of usability across enterprises and consumers that is driving significant growth,” and that the Sound Ventures team has experience in two industries at the heart of generative AI: technology and entertainment. “We believe this is potentially the most significant technology we will experience since the advent of the internet,” Kutcher said in a statement. “The foundation model layer companies are defining the category, and, in our view, they have the power to transform businesses and everyday life.
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