Sapphire Ventures, a venture capital firm, is committing over $1B to invest

 

Sapphire Ventures, a venture capital firm, is committing over $1B to invest in AI enterprise startups, including companies developing generative AI.  The Austin-based firm has a history of backing AI startups and has already invested $2.4B in 60 AI-focused companies, including DataRobot and Clari. Sapphire's AI investment strategy will focus on backing B2B software companies that leverage data to enhance prediction capabilities, making AI easily accessible. The majority of the funds will be allocated to direct investments in AI startups, with some going to early-stage AI-focused venture funds. The firm also plans to create an "AI Community" for portfolio company executives and incorporate AI tools across its internal workflows and job functions. Sapphire Ventures joins other companies, such as Salesforce Ventures, Workday, and Accenture, in making substantial investments in AI ventures. According to PitchBook, AI startups have defied the recent decline in VC funding, raising an impressive $15.5B this year. The median post-money valuation has also risen by 109.8% compared to last year.