Former Google Employees Launch $11.3M Fund to Back Enterprise-Ready AI Startups

BAG Ventures, a venture firm founded by two Google alumni, has announced the close of its debut fund, raising $11.3 million to invest in artificial intelligence startups, according to TechCrunch.

The fund is aimed broadly across the AI sector, with a particular focus on startups capable of building products that enterprises will actually pay for, per TechCrunch's report.

The firm's founders bring experience from their time at Google to their new venture investing role, though TechCrunch's report did not detail their specific former positions or additional background in the material available for this summary.

The fundraising comes amid continued strong investor interest in AI-focused venture funds, as firms compete to back startups building on top of the current wave of artificial intelligence technology.

TechCrunch's report did not name specific portfolio companies or investment targets for the new fund in the material available for this summary.

Further details on BAG Ventures' investment strategy and fund structure are available in TechCrunch's full report.