As a part of Salesforce’s large tech convention, Dreamforce, going down this week in San Francisco, its VC arm, Salesforce Ventures simply introduced a brand new $500 million fund devoted to AI firms. That is important for a number of causes. First, in June 2023, Salesforce Ventures doubled its AI fund from $250 to $500, so the extra $500 million brings the AI fund to $1 billion. This compares to $5 billion whole deployed in its first 15 years, since its 2009 launch.
Salesforce Ventures can be among the many forces making San Francisco such a sizzling spot for AI firms that startups worldwide are relocating to the town. Like many VC companies, for instance, the enterprise arm hosts dinners for its portfolio firms and Fortune 500 executives (aka potential prospects). Not surprisingly, maybe, its AI portfolio is already notable, together with Anthropic, Hugging Face, Runway, and Collectively AI, amongst others.
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