Dropbox Ventures will back artificial intelligence-focused startups and was unveiled alongside two AI features for the company’s cloud file storage service.
Author: Robert Lavine
Robert Lavine is special features editor for Global Venturing.
The Big Deal: Kobold uses AI to pinpoint mineral deposits
The AI-equipped mining company, which raised $195m this week, can help bridge a multitrillion-dollar supply gap for the rare earth metals used in batteries, according to Equinor Ventures’ Jeroen van der Hoek.
Salesforce hikes Generative AI fund to $500m
Just three months after setting up its generative artificial intelligence fund, Salesforce’s corporate venture arm has added $250m as more corporates compete on startup deals.
The Big Deal: Helium Health heads Nigeria’s new wave of tech startups
Helium’s $30m series B attracted several international corporates, and its healthcare software suite is an example of how Nigeria’s companies are moving on from traditional areas like fintech.
GV names four new general partners
Brendan Bulik-Sullivan, Crystal Huang, Frédérique Dame and Issi Rozen have been promoted from partner positions at the early-stage Alphabet fund.
Rome’s airport operator announces early-stage fund
ADR Ventures will invest in travel, hospitality and aviation technology on behalf of Aeroporti di Roma and fund graduates of its Fiumicino Innovation Hub accelerator.
The Big Deal: Airline investors line up for CleanJoule’s aviation fuel
Frontier Airlines, Volaris and Wizz Air – none of which were CVCs two months ago – helped the startup raise $50m, but their purchasing power might end up being more important to the company’s future.
The 10 best corporate VC investments of the digital age: Part Two
In today’s second half, we look deals like Microsoft’s investment in Facebook and Tencent’s investment into Riot Games which ended up not just paying off but profoundly changing business strategy.
TotalEnergies shutters $400m investment arm
Venture firm Aster is reportedly buying TotalEnergies’ corporate VC portfolio following the oil and gas provider’s transition to accelerator actvities.
The 10 best corporate VC investments of the digital age: Part One
We look at some of the greatest corporate VC investments, from a $2.5m investment in a future $170bn company in the 80’s to a deal in the wake of the dotcom boom that has produced $130bn.
Baidu books $141m for generative AI startups
China’s Baidu is looking to build an ecosystem around its AI chatbot and app development platform with the newly launched Wenxin Investment Fund.
ServiceNow hikes CVC commitment to $1bn amid AI race
Digital workflow company ServiceNow is the latest tech company to up its corporate venturing budget to make sure it stays current on AI.
The Big Deal: Google backs Anthropic in the AI duel
Google’s second big investment in Anthropic in three months puts it head to head with Microsoft-backed OpenAI in the generative AI race.
Axa bets big on late stage with $1.6bn CVC initiative
Axa Venture Partners will invest nine-figure amounts through the new fund, which is expected to close in 2025 with its insurer parent putting up half the capital.