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Venture capital firm Mayfield Fund is launching a new investment fund called "AI Start" that will focus on backing artificial intelligence (AI) startups. The fund will dedicate $250 million to seed-stage and early-stage companies in the AI space. Mayfield Fund will draw the money from its existing funds and aims to capitalize on the growing interest and potential of generative AI.
The firm plans to take a different approach with the AI Start fund, allowing for smaller investments and wider involvement from angel investors and other firms. Mayfield is also interested in companies across the AI tech stack, from application software to semiconductors. The launch of the AI Start fund is part of Mayfield's long-term strategy, and if successful, the firm may consider launching additional seed-stage funds in other sectors.