Quick Bits of Wisdom:
- Foundation Capital, the fairy godmother of Solana and the magical AI chip maker Cerebras, has magicked up $600 million for its eleventh spellbinding fund.
- They’re all about the early-stage magic, which means they’re there before the wand even chooses the wizard.
Foundation Capital, the fairy godmother of Solana and the magical AI chip maker Cerebras, has magicked up $600 million for its eleventh spellbinding fund.
This fund is like the big, bad older brother of its predecessor, a $500 million fund that closed its doors three years ago. Bigger, badder, and with more fairy dust.
Foundation Capital’s focus is on early-stage investing, which “means being there at day zero,” they announced on Tuesday. Translation: they’re the first ones at the party, even before the punch is spiked.
Take, for example, their investment in 2016 when the AI chip market was just a twinkle in Silicon Valley’s eye. Now, Cerebras is a $4.25 billion company with IPO dreams dancing in its head.
“Our first AI investment was in 2009, back when AI was just a glimmer in a chatbot’s eye. We’ve been investing in blockchain since 2014, braving the crypto tundra with our magical robes,” the company boasts in Tuesday’s announcement. 🧙♂️❄️💰
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2025-03-05 17:25