AI Fund's second fund, AI Venture Fund II, aims to raise $120 million, already having gathered $69.75 million from 13 partners, focusing on seed and series A stages for AI companies.
Andrew Ng founded the AI Fund in 2018 with $175 million to support AI ventures, connecting funded teams with Ng's vast professional network to foster growth and innovation.
Despite starting with $175 million, the AI Fund's second tranche targets to raise $120 million, showcasing potential signs of deflating AI bubble, particularly in generative AI sector.
Notable backers like Greylock Partners and Sequoia Capital have supported the AI Fund, with a portfolio of 38 companies, including WhyLabs and Baseten, reflecting Ng's impactful presence in the AI ecosystem.
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