Emergence Capital has closed its $1 billion seventh fund, marking its first major fundraising effort in nearly four years. Founded in 2003 and based in California, Emergence has shifted its focus towards artificial intelligence. The firm previously raised nearly a billion dollars in 2021, encompassing a sixth early-stage fund of $575 million and a new opportunity fund of $375 million. Emergence has a legacy of backing successful startups such as Salesforce and Zoom, with continued support from Stanford Management Company highlighting its expertise in SaaS and software investments.
Emergence Capital has successfully raised its seventh fund, totaling $1 billion, focusing on the burgeoning opportunities in artificial intelligence.
The firm’s general partner, Joe Floyd, emphasized the significance of this moment, stating, 'It's a generational opportunity for AI investing, period.'
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