Salesforce’s VC Arm Doubles Generative AI Fund To $500 Mn

Salesforce Ventures, the venture capital arm of Salesforce, has announced an ambitious expansion of its Generative AI Fund, increasing it from USD 250 million to USD 500 million.

The Generative AI Fund has already established a strong presence in the industry by backing notable AI companies such as Hearth and You.com. Most recently, the fund announced further investments in Anthropic and Cohere. 

“Expanding our Generative AI Fund enables us to work with even more entrepreneurs who are accelerating the development of transformative AI solutions for the enterprise, and we are excited to support the next generation of innovative founders,” said Paul Drews, Managing Partner, Salesforce Ventures. 

On Monday, Salesforce also announced the launch of AI Cloud, a suite of capabilities which will reportedly enhance customer experiences and productivity in enterprises through generative AI. AI Cloud leverages Salesforce technologies such as Einstein, Data Cloud, Tableau, Flow, and MuleSoft.