Sapphire Ventures to Invest Over $1B in AI-Focused Enterprise Startups

Sapphire Ventures has committed more than $1 billion to AI-powered enterprise technology startups, including those specializing in generative AI.

The $1 billion will come from Sapphire’s existing funds, reported Reuters, which have $10 billion under management and about $3 billion waiting to be deployed. The majority will be in the form of direct investments in AI startups, while some will go to early-stage AI-focused venture funds through Sapphire’s limited partner fund, Sapphire Partners.

The Austin, TX-based company’s current AI investments include Clari, DataRobot, Moveworks and ThoughtSpot, with its strategy focused on backing B2B software companies making AI easily accessible by leveraging data to better predict outcomes.

“We believe companies are only beginning to see the benefits of AI and GenAI, specifically. Soon, we expect there to be a massive, AI-driven productivity boom that will benefit workers at every level and create value throughout the global economy,” said Nino Marakovic, CEO, Partner and co-Founder of Sapphire.

Along with its investment, Sapphire plans to create an “AI Community” on its Sapphire Communities platform for portfolio CEOs and executives and incorporate AI tools to “drive efficiencies.”

Over the past six months, more than $40 billion has been invested in AI startups – a quarter of all startup investment, according to Pitchbook. Furthermore, PwC says it has the potential to add $15.7 trillion to the global economy by 2030.