The AI.FUND, a new venture capital fund focussing on artificial intelligence (AI), has been launched in Hamburg to support start-ups in the early stages. 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 commercialisation 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 funding gap in the European AI sector.
The team behind AI.FUND consists of experienced AI investors, entrepreneurs and experts who contribute their knowledge and network to support startups in scaling and internationalisation: Ragnar Kruse and Petra Vorsteher, founders of Intershop and Smaato, were pioneers in the field of AI investments. 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, organises the AI conference “Rise of AI”.
The AI.FUND offers AI start-ups 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 promote potential AI champions at an early stage.
One example of the fund’s involvement is its investment in the Munich-based startup Sinpex, which specialises in the automation of KYC processes in the financial industry and recently completed a successful financing round of €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 internationalisation of participating startups.
