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Investing.com -- SignalFire, a San Francisco-based venture capital firm, has raised more than $1 billion to invest in startups focused on artificial intelligence (AI). The recent funding round boosts the company’s assets under management to $3 billion. The firm plans to use these funds to support early-stage startups across multiple funds, particularly those creating AI applications.
Chris Farmer, Chief Executive Officer of SignalFire, shared in a statement that their investors recognize the potential of applied AI as a defining opportunity of our time. In a separate interview, Farmer positioned SignalFire as the first venture firm built natively on an AI platform. He remarked that while this seemed unconventional when the firm was established in 2013, not applying data and AI to venture capital now would denote being behind the times.
A key element of SignalFire’s approach is its proprietary tool known as Beacon AI. This program is designed to perform a range of tasks, from identifying market trends to assisting portfolio companies in finding talent and developing products. Additionally, SignalFire stated that Beacon AI aims to recognize high-potential founders even before they establish their companies.
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