Venture capital firm Good Capital on Friday has announced a new $50 million fund to back founders who are democratising Artificial Intelligence for distribution, personalisation or business operations. The firm has kept a greenshoe option of $25 million.
According to Good Capital, it is deploying the fund with target cheques of up to $1.5 million over the next 4 years. The VC firm has been an early investor in unicorns such as Meesho and LEAD School. It aims to invest in about 25-30 startups from various sectors from the current fund.
“Integrating AI is now table stakes for any startup. Much like the platform shift to mobile in the past, the success of tech businesses will depend on how they leverage AI. This is not an AI-focused fund as much as a recognition of a land – grab moment, where startups leveraging AI in intelligent ways will have the right-to-win.” said Arjun Malhotra, Good Capital co-general partner.
Good Capital made investments in startups like OrangeHealth which raised Series A funding from General Catalyst and Accel Partners, SimSim which was acquired by Google, and SolarSquare which raised a $13 million Series A funding from Lowercarbon and Elevation Capital.
Founded by Investopad co-founders – Rohan and Arjun Malhotra, Good Capital started the micro venture capital firm with a corpus of $25 million in 2019.
