Factorial Capital, created by early-stage investor Matthew Hartman, is partnering with Clément Delangue, co-founder and CEO of the AI platform Hugging Face, to boost investments in open-source AI companies.
Factorial Capital, the new venture firm, will partner with angel operators and give checks — on average of $100,000 — to companies focused on AI.
Delangue, the initial partner of Factorial Capital, and Hartman have already backed two startups: flower.dev, which builds privacy-friendly systems for AI training, and Nomic AI's GPT4All, which is an open-source chatbot library.
- Factorial has already raised $10M for its debut fund.
- The partners will manage their own portfolios and split the economics with Factorial.
- Hartman and Delangue have known each other for nearly seven years, as Hartman's previous company, Betaworks Ventures, was the first investor in Hugging Face.
