The Foundation Capital, an early backer in Solana and AI Chip Maker Cerebras, raised $ 600 million for eleven flagship funds.
Fund is 20% greater than its previous $ 500 million funds, closed around three years ago.
The focus of the Foundation Capital is in the investment of the early stages, which “means present on the day zero,” according to an announcement on Tuesday. As such, 80% of foundation investments occurred before the company generated any income.
For example, the Foundation Capital was first invested in 2016 when the AI Chip Market was still caught. Cerebras is now a $ 4.25 billion company and has plans for an initial public (IPO) offering on an unspecified date in the future.
“Our first investment in AI was in 2009, for a decade before Chatgpt brought AI to the mainstream. We have invested in blockchain since 2014, which has not been disobeyed by Frigid Crypto winters,” the company said in a Tuesday announcement.
