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Advanced Tech Venture Funds Raise $365 Million

Artificial intelligence graphic

(Seanbatty, Pixabay)

9 Feb. 2022. Three venture capital investors specializing in robotics, artificial intelligence, and other advanced technologies raised $365 million for start-up financing. Morpheus Ventures in Los Angeles, Omega Venture Partners in Palo Alto, and Cortical Ventures in San Francisco and Boston announced new investment funds of $200 million, $115 million, and $50 million respectively.

Morpheus Ventures invests in early-stage technology enterprises providing investment capital, and according to the company, help for new businesses to get off the ground and through complexities and hazards of the technology industry. That assistance, says Morpheus, can include recruiting key executives, making connections with customer prospects, and protecting intellectual property. Morpheus’s portfolio covers companies in data analytics, artificial intelligence, robotics, consumer and business-management technologies, and software as a service.

Morpheus raised $200 million for its second discretionary capital fund it calls Fund II. The company plans to use Fund II to finance businesses working in financial, insurance, and property management technologies, as well as companies exploring robotics and other advanced disciplines. In January, Science & Enterprise reported on VeriSIM Life in San Francisco a company using machine learning algorithms to develop new drugs designed to better succeed in clinical trials that raised $15 million in its first venture round, led by Morpheus Ventures.

“With this closing,” says Morpheus managing partner Joseph Miller in a company statement released through Cision, “the new fund takes the total committed capital across all Morpheus funds and vehicles to over $300 million, making us one of the largest early-stage VC funds in Los Angeles.”

Most lucrative and exciting secular trend

Omega Venture Partners is also an investor in early-stage businesses, particularly companies developing artificial intelligence applications. The company says it invests in new businesses developing A.I. software applied to solving high-value problems and opening new revenue streams. Omega Venture says its optimum investment targets are companies that go beyond automating routine tasks, but also enabling creativity, increasing empathy, and improving judgement. The company says it connects its portfolio companies to a network of experienced business and technology executives and experts.

Omega Venture says it raised $115 million for its new fund, exceeding the original $100 million target. “The application of artificial intelligence to deliver breakthrough business solutions and to unleash vast revenue growth opportunities,” says Omega Venture managing partner Gaurav Tewari in a company statement released through Cision, “is the most lucrative and exciting secular trend I have seen in my 16-plus years of leading venture capital firms.”

Cortical Ventures is another investor in early-stage businesses building artificial intelligence systems or services, that began its public operations today. The company aims to be both an investor, funding seed and early venture rounds, but also an incubator for A.I. start-ups. And Cortical Ventures says it’s developing an A.I. application of its own for managing relationships with investors and portfolio companies.

Cortical Ventures raised $50 million in its first investment fund. The company is founded by data scientist Jeremy Achin, who founded A.I. services provider DataRobot in 2012. Achin, now Cortical Ventures’ general partner, says in a statement released through Cision, “our inaugural early stage fund as a first step to building a generational A.I. investment franchise and to partner with the best entrepreneurs.”

The company announced participation in two A.I. seed stage venture rounds, with both companies founded by Achin, and currently operating in stealth mode in Boston. Neo Cybernetica is raising $30 million in seed funds, while hOS is raising $12.8 million. Both seed rounds are led by technology investor New Enterprise Associates in Menlo Park, California, with Cortical Ventures and other investors taking part.

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