Salesforce Ventures, the venture capital arm of Salesforce, has announced the expansion of its generative AI Fund to US $200m.
The fund, launched in March, invests in companies developing “ethical” AI technologies, prioritizing privacy and diversity. The fund has already invested in several firms, including Cohere, Anthropic, Hearth.AI and newer additions Humane and Tribble. The expansion coincides with the launch of the company’s AI for Impact Accelerator, which will grant $2m to a cohort of education, workforce and climate organizations to “advance the equitable and ethical use of trusted AI”. Salesforce Ventures has a number of vertical-specific investment funds, including funds aimed at particular geographies and a dedicated AI fund.
Salesforce Ventures managing partner Paul Drews said the expansion would allow the company to “work with even more entrepreneurs … accelerating the development of transformative AI solutions for the enterprise”. He added that the fund aimed to support the “next generation of innovative founders”. Meanwhile, Bloomberg notes that investments from Salesforce’s accelerators and funds may become more important to the company’s bottom line as activist investors discourage large acquisitions.
