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Once again, 1Ìý— ’s venture arm — is doubling the size of its AI commitments, which now total $1 billion.

The investment arm of the tech giant announced a new $500 million AI fund — which is in addition to its AI fund announced last year.

In March 2023, Salesforce Ventures said it would launch a new $250 million generative AI fund that will look at promising generative AI startups. The firm announced at its TrailblazerDX event  it would initially invest in four AI companies — , , and .

Just three months later it announced it would double the size of its AI Fund to $500 million.

The latest fund once again shows investors’ — especially corporations’ — insatiable appetite for all things AI. While venture funding scuffled in August, AI led all sectors in capital raised — with startups raising $4.3 billion, or around 24% of total venture funding, per SA¹ú¼Ê´«Ã½ data.

Salesforce Ventures has helped those numbers. Just last month it invested into the likes of and . In total, the investment arm has taken part in 10 deals involving AI-related companies, .

More money

Salesforce Ventures wasn’t the only firm with fund news early this week. Private equity firm is close to closing a new $10 billion-plus fund — roughly half the amount originally targeted, .

The fund may end up being closer to $12 billion, per the report.

Insight has been in the news recently thanks to a pair of exits. Just last week, credit card giant agreed to buy threat intelligence company from Insight Partners for $2.65 billion. The deal represents a nice return for the private equity firm, which bought the startup in 2019 for $780 million.

The week before, another portfolio company, , was sold to Salesforce for $1.9 billion.

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Related reading:

• Salesforce And Its Venture Arm Latest To Join AI Craze
• Salesforce Ventures Doubles Down On AI Investments
• Venture Firms Take A Break In August With Lowest Monthly Funding In 2024
• Mastercard Buys Insight Partners’ Recorded Future For $2.65B

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