Forbes Selects AV Investments for AI 50 List
Learn about Alumni Ventures portfolio companies recognized by Forbes as top AI innovators shaping the future
Artificial Intelligence is revolutionizing the way we live and work — with a projected industry value of $126 billion by 2025.1 Our funds have embraced this technology’s potential with over 100 investments in innovative startups propelling AI/ML and big data advancements. This includes multiple companies on the Forbes AI 50 list,2 which recognizes top AI-focused companies shaping the future. See below to learn how these companies are leveraging AI solutions to disrupt their industries.3
Reserve your spot in AI Fund 2
We are seeing strong interest in this fund.
If interested, we recommend securing a spot promptly.
Max investor limit: 249
Deadline to Join: March 31st, 2023
Inside America’s Most Promising AI Companies
The Forbes AI 50 list recognizes standouts in privately-held North American companies making the most interesting and effective use of artificial technology. This year’s inductees reflect the booming VC interest as well as the growing variability in AI-focused startups making unique uses of existing technologies, others developing their own, and many simply enabling other companies to add AI to their business model.
See video policy below.
Canvas is a construction robotics company using machine learning to automate drywall installation. Its proprietary system uses a modified JLG lift, robotic arm, and sensors backed by machine learning to automate drywall installation.
Industry: IoT & Advanced Manufacturing
How We’re Involved: Alumni Ventures invested in a $24 million Series B in 2021 led by Menlo Ventures, with participation from Suffolk Construction, Innovation Endeavors, Brick & Mortar Ventures, Obvious Ventures, and Grit Labs.
Eigen Therapeutics is a precision medicine company building an automated platform to develop more effective cancer treatments at scale. The company’s platform will genetically fingerprint cancer cells, telling it how to make cancer more vulnerable to treatment.
Industry: Life Sciences
How We’re Involved: Alumni Ventures invested in a $7 million seed round in 2022 led by Josh Kopelman at First Round Capital, with participation from Builders VC, Kevin Mahaffey, Hawktail, Matthew De Silva (founder at Notable Labs), Varsha Rao, Bioverge, Mount Pleasant Ventures, and others.
An Intro to Our AI Fund
See video policy below.
Listen now as CIO Anton Simunovic and EVP Peter MacEwan provide a compelling overview of venture capital, Alumni Ventures, and our AI Fund. They explain:
Why many accredited investors diversify their portfolio with venture capital
How AI/ML and big data are revolutionizing the way we live and work
How our unique, network-powered approach unlocks powerful deal flow
Sample AV investments developing disruptive AI/ML and big data solutions
How to join other investors in our AI Fund before it closes at the end of March
FarmWise develops farming robots to facilitate autonomous cultivation and organic farming with the mission of building sustainable farming at scale. The company captures and analyzes crop data, takes optimal crop-specific interventions, and helps farmers produce.
Industry: Food & Agriculture
How We’re Involved: Alumni Ventures invested alongside Wilbur Ellis and Xplorer Capital in a $14.5 million Series A in 2019 led by Calibrate Ventures. We also invested in a $45 million Series B in 2022 co-led by Fall Line Capital and Middleland Capital, with participation from GV, Taylor Farms, Calibrate Ventures, Playground Global, SVG Ventures, and Wilbur Ellis.
Verge Genomics is a tech-enabled drug discovery company pioneering the use of artificial intelligence (AI) and human data to develop new drugs faster for the most challenging diseases of our generation. Its end-to-end drug discovery and development platform integrates multiple technological innovations, from discovery to translation to streamline drug development.
Industry: Life Sciences
How We’re Involved: Alumni Ventures invested in an oversubscribed $98 million Series B in 2021 led by BlackRock, with participation from Eli Lilly and Company, Merck Global Health Innovation Fund (Merck GHI), Section 32, Vulcan Capital, Threshold Ventures, ALS Investment Fund, Tao Capital Partners, Lifeforce Capital, and others.
AI Fund Open Through March 31
Our AI Fund will invest in a diversified portfolio of ~20-30 companies applying AI, machine learning, big data, and related technologies. The fund will be invested over ~12-18 months with a large reserve (~20-25%) for follow-ons. Every investor becomes a member of the AI Venture Club, with opportunities to invest in Syndications, learn, and network.
To learn more, click below to review fund materials or connect with a Senior Partner.
AI Fund Portfolio Update and Last Call
Watch this on-demand presentation hosted by Chief Investment Officer Anton Simunovic, Executive Vice President Peter MacEwan, and Managing Partners Chris Sklarin, Ed Tsai, Laura Rippy, and Todd McIntyre for a look back at some of the investments made by AI Fund 1 and how they will build a fully diversified venture portfolio for AI Fund 2.
Chief Investment Officer
EVP of Community
Contact [email protected] for additional information. To see additional risk factors and investment considerations, visit av-funds.com/disclosures.
1Bergur Thormundsson, “Revenues From the AI Software Market Worldwide,” Statista, July 27, 2022
2Helen A. S. Popkin, “AI 50 2022: North America’s Top AI Companies Shaping The Future,” Forbes, May 9, 2022
3These investments are for illustration purposes only. These investments are not intended to suggest any level of investment returns; not necessarily indicative of investments invested by any one fund or investor. Many returns in investments result in the loss of capital invested. These investments are not available to future fund investors except potentially in certain follow-on investment options.