This $50M fund will provide OurCrowd investors allocation into the next 20-25 AI technology opportunities approved by OurCrowd’s investment committee. The OurCrowd AI Fund will invest in startups developing proprietary, mission-centric AI as their core IP and a major driver of revenue as well as startups developing AI infrastructure which will be critical for the growth of AI companies and applications. The fund will also focus on companies developing generative AI across multiple sectors, including verticals such as MedTech, mobility, AgTech, cybersecurity, FoodTech, ClimaTech, LegalTech and FinTech, among others. The fund will also invest in companies that provide AI solutions to support key business categories across technology sectors, including customer operations, marketing and sales, software engineering, and R&D, to name a few examples.

Since the release of OpenAI’s ChatGPT in November 2022 the interest in artificial intelligence (AI) and particularly in generative AI has surged. The remarkable success of ChatGPT is a testament to the power of product/market fit. Launched on November 30th, 2022, it gained over 1M users in just 5 days and reached 100M users in just 2 months. This level of mass adoption for a technology product is unprecedented, way outpacing previous tech innovative waves such as the PC (it took Apple 14 years and Microsoft 10 years to attain 100M users), Internet (Amazon – 12 years, Facebook 5 years and Google raised the bar to 1 year), Mobile (Instagram – 30 months and TikTok – 9 months).

Much of the excitement and wonder about the recent AI wave is related to the scope of the opportunity ahead. In the words of a recent Goldman Sachs report, “Artificial intelligence may be one of the biggest technological leaps in history. It is poised to unlock new business models, transform industries, reshape people’s jobs, and boost economic productivity.”