Wing Soars with $600M Raise for “AI-First” Vehicle
Wing Venture Capital, a Palo Alto, CA-based investor created by former Accel and Sequoia partners ten years ago, has raised $600 million for its latest B2B technology-focused vehicle.
The early-stage investor raised $111 million for its debut fund almost ten years ago and followed that with a $250 million sophomore fund in 2016.
Wing’s fourth fund is almost 50% larger than the $450 million Fund III that closed in 2020 and will be deployed as part of Wing’s new “AI-first” business model.
“Wing Four represents our commitment to driving the AI transformation of business,” said Gaurav Garg, Founding Partner at Wing. “AI is the next super cycle in technology. Just as data, mobile, and cloud technologies drove digital transformation over the last 15 years, AI will reshape businesses over the next decade.”
Wing was co-founded by Peter Wagner and Garg, who previously spent more than a decade as a partner with Sequoia Capital. Investments include Snowflake, Shape Security, Cohesity and Gong.
Wing-backed companies still in their early stages include Pinecone, which has emerged as the leading data platform underpinning the new generation of AI-first applications; and Path, which puts data and AI to work to expand access to mental health services.
