Ashton Kutcher’s Sound Ventures Closes $240M Oversubscribed AI Fund
In Brief
Sound Ventures is a VC firm led by General Partners Effie Epstein, Ashton Kutcher and Guy Oseary.
The fund is looking to invest in artificial intelligence businesses at the foundation model layer.
The fund’s current portfolio includes OpenAI, Anthropic and StabilityAI.
Sound Ventures, a venture capital firm focused on investing in transformative technologies, has announced today it has closed its oversubscribed Sound Ventures AI Fund at nearly $240 million. Led by General Partners Effie Epstein, Ashton Kutcher and Guy Oseary, Sound Ventures managers over $1 billion in assets under management across funds.
The fund is looking to invest in artificial intelligence businesses at the foundation model layer, and its current portfolio includes leading AI companies OpenAI, Anthropic and StabilityAI.
These three companies have raised significant amounts of funding over the last year. Last year, Anthropic raised $580 million in a Series B round. Recently, OpenAI closed a $300 million share sale at a $ 27 billion-$29 billion valuation, while StabilityAI is looking to raise funds at a $4 billion valuation following a $101 million funding round last October.
Ashton Kutcher said in a press release that the VC firm believes that artificial intelligence is “potentially the most significant technology we will experience since the advent of the internet,” and that foundation model layer companies are defining the category. He added that Sound Ventures wants to be part of the conversation.
This comes as generative AI intersects with technology and entertainment, the two industries in which the Sound Ventures team has deep experience. Kutcher is a well-known actor, while Guy Oseary is a reputable talent manager of legendary music acts, including Madonna, U2, as well as blue-chip NFT projects such as World of Women and Bored Ape Yacht Club.
“We anticipate that AI is going to play an impactful role in everything we do – including entertainment, an industry we know well. The companies we are backing will be at the forefront of this powerful innovation, and Sound Ventures is excited to bring our distinct experiences and connectivity to responsibly support these AI foundational platforms,
said Guy Oseary, General Partner at Sound Ventures.
Effie Epstein claimed that Sound Ventures has been investing in AI for the past decade. The Sound Ventures AI Fund will invest alongside Sound’s early-stage funds. The VC’s prior investments include Airbnb, Uber, Flexport, Brex, GitLab, Airtable, Affirm, Forethought, and You.com.
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About The Author
Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.
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Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.
