Sound Ventures, a venture-capital firm co-founded by Ashton Kutcher and Guy Oseary, has closed on a $240M oversubscribed fund to invest in AI companies.
The Sound Ventures AI Fund currently has stakes in OpenAI, StabilityAI, and Anthropic, which all offer generative AI systems.
- The fund will focus on companies at a "foundation model layer," meaning businesses offering large-scale pre-trained AI models that can be adapted by others across a wide range of tasks.
- In a news release, Kutcher called AI "potentially the most significant technology" since the internet. Foundation model layer firms are "defining the category" and "have the power to transform businesses and everyday life," he said.
- Sound Ventures, led by Kutcher, Oseary, and Effie Epstein as general partners, currently manages over $1B in assets across funds, which have previously backed Spotify, Pinterest, Airbnb, Brex, GitLab, and others.