Sound Ventures will focus on backing early-stage companies that are using artificial intelligence to create innovative solutions across a range of industries.
The fund, which is the third for Sound Ventures, was oversubscribed and exceeded its initial target of $150 million. It will be led by Kutcher and Guy Oseary, with a team of experienced investors and operators. The fund is already invested in companies such as Mammoth Biosciences, Flex Logix, and Pipe.
With the increasing adoption of AI across industries, the fund's focus on AI startups could help bolster innovation and growth in the sector. The oversubscription of the fund also suggests a strong interest from investors in backing AI-driven solutions.