- AI exploded in popularity in 2022, landing more than $1.37 billion in funding, per PitchBook data.
- Insider rounded up the top 13 AI- and ML-focused VC firms that founders should know.
- These funds have invested in hot startups like Adept, Hugging Face, Weights & Biases, and Synthesia.
In a year marked by turmoil and uncertainty, artificial intelligence has been a bright spot for tech investors and startup founders alike.
Especially buzzy sectors like generative AI landed more than $1.37 billion in funding in 2022 across 78 deals, nearly as much as the previous five years combined, according to PitchBook data.
Despite the hype, a group of VCs have been so bullish on AI and ML that they’ve created entire firms dedicated exclusively to investing in the space.
Some of these investors say that creating these specialized funds provides them with more flexibility and nimbleness versus generalist firms that have one or two AI specialists.
“If you have a new fund, your ability to design the fund around that and move quickly to build things that are very specific is easier,” Sarah Guo, the founder of the AI-focused VC firm Conviction, said. “Because you’re not like, ‘Hey, do I need to trade off? Is this as important as this other thing we’re doing in consumer marketplaces?'”
Although many of the firms emerged in recent times, others, like the 15-year-old BootstrapLabs or the 11-year-old LDV Capital, have been years in the making.
And for the newer funds, 2023 is looking to be a time ripe for AI investing, following a year that saw massive rounds and valuations for hot generative-AI startups like Jasper and Stability AI.
Here are the top 13 venture-capital firms dedicated to artificial-intelligence and machine-learning investing that founders should know: