The AI.FUND, a new venture capital fund focusing on artificial intelligence (AI), was launched in Hamburg to support early-stage start-ups. With a capital target of 35 to 50 million euros, the fund is aimed at young companies from Germany, Europe and Israel that are developing innovative AI solutions. The fund is backed by a team of experienced AI investors and technology experts who want to use their expertise and network to support the participating start-ups in their growth and scaling.
The AI.FUND, a new venture capital fund based in Hamburg, is aimed specifically at start-ups in the field of AI. With a target volume of 35 to 50 million euros and a term of ten years, the fund focuses on the development and commercialization of AI applications in Germany, Europe and Israel. The fund was launched at the end of 2023 to support early-stage start-ups and close the financing gap in the European AI sector.
The team behind the AI.FUND consists of experienced AI investors, entrepreneurs and experts who contribute their knowledge and network to support start-ups in scaling and internationalization: Ragnar Kruse and Petra Vorsteher founded Intershop and Smaato and invested in the first AI startup back in 2002. Dr. John Lange took Intershop public and built up Axel Springer’s start-up portfolio. Dr. Hauke Hansen invested in start-ups via Lakeside Invest after holding management positions at Amazon and McKinsey. Ingo Hoffmann is involved in the Baden-Württemberg AI Alliance and GPAI after gaining experience at IBM Watson and SAP. Fabian Westerheide, co-founder of Point Nine Capital, organizes the AI conference “Rise of AI”.
The AI.FUND offers AI startups not only financial resources, but also access to a broad network of experts and potential partnerships. The fund already has more than 4,500 AI start-ups in its database and aims to identify and support potential AI champions at an early stage.
One example of the fund’s commitment is its investment in the Munich-based start-up Sinpex, which specializes in the automation of KYC processes in the financial industry and recently completed a successful financing round of EUR 4 million.
The AI.FUND works closely with the AI.GROUP and the AI.STARTUP.HUB to create a comprehensive ecosystem for AI startups. This includes financial support as well as technical and business advice to accelerate the growth and internationalization of participating startups.
