Salesforce Ventures Doubles AI Fund to $1B, Now at $1 Billion Investment

Home AI News Salesforce Ventures Doubles AI Fund to $1B, Now at $1 Billion Investment

Updated on October 20 2024

During this week’s Dreamforce tech conference in San Francisco, Salesforce announced a remarkable new initiative: its VC arm, Salesforce Ventures, has launched a $500 million fund specifically for AI companies. This development is noteworthy for several reasons. Earlier in June 2023, Salesforce Ventures had already doubled its AI fund from $250 million to $500 million, meaning that this latest addition brings the total AI fund to an impressive $1 billion—a substantial increase compared to the $5 billion invested over the first 15 years since the fund's inception in 2009.

Salesforce Ventures plays a pivotal role in making San Francisco a prime destination for AI startups, attracting innovators from around the globe to the city. In line with common practices among VC firms, Salesforce Ventures organizes dinners for its portfolio companies alongside Fortune 500 executives, who are potential customers. Unsurprisingly, Salesforce's AI portfolio already includes prominent names like Anthropic, Hugging Face, Runway, and Together AI, showcasing its strong commitment to advancing the AI landscape.

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