If there’s a silver lining during a turbulent and unpredictable year for investors and business owners, it’s the development of generative AI technologies. Global venture capital investment in generative AI was $3 billion in the first quarter of 2024 and is expected to reach $12 billion in total by the end of the year. Close attention to AI, particularly general artificial intelligence (GenAI), remains elevated due to a number of factors, including high early adoption rates of a yet-emerging technology and unparalleled public interest. As the industry develops, investment in GenAI is also being driven by its potential adoption by the C-suite. The number of agreements and investments is expected to rise due to the shift from horizontal AI (i.e., large language models and general purposes) to vertical AI (specific and niche).
Some VCs are so confident in AI and ML that they have established whole companies just to make investments in these fields. Compared to generalist firms with one or two AI specialists, these investors state that the creation of specialised funds gives them greater value and flexibility.
These are the most notable VC studios and funds investing in AI and ML that entrepreneurs should be familiar with.
SKL.vc
What is it about?
SKL.vc is a global data-driven venture builder dedicated to launching seed and pre-seed projects worldwide, backing firms poised to lead and disrupt. SKL.vc focuses on AI and ML, computer vision, robotics, BCI and hardware in the following industries: EdTech & FinTech, entertainment, and health & wellness.
Reasons to follow: They have a visionary “analytics-first” approach and find disruptive B2C ideas backed by unique business evaluation methodology. SKL.vc actively participates in business development and provides marketing, extended networking opportunities, team building, developing business models, fundraising, and expansion. They guide the product design process from an idea to the prototype and provide access to international advisors with deep experience in their respective fields.
Founders: SKL.vc was founded by Artem Sokolov, a serial investor and entrepreneur recognised as the EY Entrepreneur of the Year. He is involved in a number of global projects supporting young founders and developing the venture ecosystem, with a focus on social impact and sustainable approaches.
Portfolio and notable deals: SKL.vc has in their portfolio several international startups with AI and scientific outlooks that are on the AITech35 award list, which ranks the best entrepreneurs and companies at the forefront of AI advancement. For example, Aithor.com, an AI multitool for educational and creative content, is developing extremely fast: after launching in May 2023, the company made its first $1 million in revenue and generated profit in less than 10 months.
Super{set}
What is it about?
Super{set} is a VC studio that specialises in developing data- and AI-driven businesses. The firm is more interested in the engineering part of AI, unlike many studios that support just fundamental AI, and it’s focusing on large language models and corporate AI systems. They assist companies in the early stages with recruiting, marketing, sales, and fundraising.
Reasons to follow: Recently, the studio got another $90 million to co-found data and AI companies. Super{set} brings together the tech community and has a strong ecosystem, organising regular events for entrepreneurs and a business summit.
Founders: Tom Chavez founded the studio together with his managing partner, Vivek Vaidya. He has a long entrepreneurial career: Tom was the co-founder and CEO of Krux, which Salesforce purchased in 2016. Chavez and Vaidya also created Rapt, acquired by Microsoft in 2008.
Portfolio and notable deals: The studio has 16 companies in their portfolio. Recently super{set}-founded Habu, a leader in the data collaboration category with innovative data clean room technology, was acquired by LiveRamp.
Atomic
What is it about?
Miami-based venture studio Atomic builds companies from scratch. It enables founders to focus on creating and building their startups and provides all sorts of support: finance, design, engineering, HR, IT, legal, operations, and recruiting.
Reasons to follow: An experienced group of operators, engineers, designers, and marketers at Atomic collaborate to brainstorm ideas, develop, evaluate, and introduce new projects. Additionally, Atomic has a network of investors, partners, and consultants that offer support and strategic guidance.
Founders: Atomic was founded in 2012 by two serial entrepreneurs
Jack Abraham and Andrew Dudum.
Portfolio and notable deals: Atomic launched several companies, including Terminal, ZenPayroll (now Gusto), Bungalow, Homebound, and TalkIQ (acquired by Dialpad). One of its biggest successes was Hims & Hers, the consumer healthtech company that went public in 2021.
UnternehmerTUM
What is it about?
Munich-based UnternehmerTUM is an early-stage venture capital firm investing in technology-based start-ups in Europe, with a focus on B2B business models such as industrial technologies, enterprise software, SaaS, and mobility.
Reasons to follow: UnternehmerTUM is considered great in terms of networking opportunities and is leading many rankings both in Germany and on a European level. They found between EUR 500,000 and EUR 10 million per investment round, and up to EUR 30 million in total. With more than 400 employees helping in the development and financing of new firms, UnternehmerTUM connects start-ups with key industry and business players.
Founders: It was founded by the famous entrepreneur Susanne Klatten as a non-profit organisation.
Portfolio and notable deals: Since its opening in 2002, UnternehmerTUM has supported more than 1000 startups. Besides, it has a strong scientific base and partnerships with the Technology University of Munich.
Expa
What is it about?
Expa represents a startup studio and venture fund designed for technological and disruptive businesses. It helps with funding, mentorship and guidance, networking, partnerships, and talent acquisition. And it’s worth mentioning the networking opportunities. Its business community includes leaders from Uber, Virgin Galactic, Twitter, and Current.
Reasons to follow: Expa’s investments provide entrepreneurs with access to money during the crucial stages of growth, from seed funding to late-stage rounds. Besides, thanks to its extensive global network, Expa helps businesses attract talented individuals from all over the world.
Founders: Expa was started in 2013 by Uber co-founder Garrett Camp.
Portfolio and notable deals: The studio helped hundreds of new startups and had a few unicorns, including Uber, Sosh, and Genius.
