Cadenza Closes $50 Million AI Venture Fund: What You Need To Know

Early stage venture capital firm Cadenza said Tuesday that it closed a $50 million early stage artificial intelligence venture fund targeting pre-seed and seed opportunities within the AI sector with a focus on infrastructure and enterprise applications.

The Details: Cadenza said its AI Venture Fund has made 10 investments to date, including in Nous Research, Tensorwave, Jericho Security and Axolotl, with notable investors including VanEck Associates, Aros Capital, private wealth managers and single- and multi-family offices around the world. 

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 “The continued advancements in AI models have the potential to dramatically transform businesses to a magnitude that has not been seen since the commercialization of the Internet. Through our expert network, we will continue to identify opportunities in which the effective deployment of AI solutions allows startups to displace incumbent enterprise software providers and create workforce efficiencies," said Kumar Dandapani, Cadenza managing partner. 

Cadenza has been active in AI since 2022 when it pre-seeded Together.ai, which it said is one of the fastest-growing companies of all time. Cadenza has since added the CEO of Together.ai, Vipul Ved Prakash, and founding engineer Charles Srisuwananukorn to its team as venture partners. 

Cadenza also counts Alex Acero, former scientist at Apple, as a venture partner and through these relationships plans to make additional investments in other early stage companies.

"As with our existing venture funds, we will continue to provide our investors with access to high quality, early stage companies while adhering to valuation discipline and efficient use of our investors' working capital," said Max Shapiro, Cadenza managing partner. 

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