Sapphire Ventures will invest more than $1 billion in enterprise artificial intelligence startups, including companies focused on developing generative AI, enablers and middleware, foundation models and other next-generation AI applications.
“We look forward to partnering with companies that are not only improving existing workflows and software, but are building AI-native solutions that reinvent applications and user experiences,” Jai Das, president, partner and co-founder of Sapphire Ventures, said in a statement released Tuesday.
For over 10 years, the venture capital firm has been supporting AI startups, including DataRobot, Clari, Moveworks and ThoughtSpot, in the form of capital, resources and expertise in engineering, executive talent placements and partner and customer introductions.
The firm invests in early-stage venture firms that are fielding capital to back companies working on generative AI technologies through Sapphire Partners. It is also establishing an AI community through Sapphire Communities, which seeks to help portfolio company CEOs and leaders from top private cloud vendors advance corporate growth, learn new strategies and make connections.