Index Ventures has raised £1.8 billion from institutional investors to leverage recent breakthroughs in artificial intelligence.
Index has allocated £620 million for early-stage startups and £1.2bn for later-stage companies with a focus on AI-based companies.
The firm has backed major AI startups, including Mistral – Europe’s most valuable startup – Cohere and Scale AI, which was recently valued at $14 billion.
“AI is a tide that changes a lot of sectors of the economy,” said Martin Mignot, a partner at Index Ventures.
The firm has explored AI’s impact on fields ranging from accounting to molecular research and data centre optimisation.
“It’s an incredibly exciting time to invest,” said Jan Hammer, a partner at Index, likening the AI platform shift to the arrival of PCs, smartphones and cloud computing.
Derek Mackenzie, CEO of Investigo, part of The IN Group, commented: “This investment in AI from Index Ventures is an exciting step in the development of breakthroughs, a transformative shift that’s reshaping the economy as we know it.
“As Index Ventures and other VCs continue to heavily invest in AI, it’s crucial that this integration is handled safely and effectively.
“We need to ensure that we build a skilled workforce through training opportunities and upskilling to manage these technologies, so we can leverage AI to its full potential and take advantage of this impressive investment.”
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