Global Frontier Technology Ventures (GFT), a venture capital firm launched by former Nvidia and Samsung executives, on Tuesday said it has raised $140 million for its inaugural fund.
The Palo Alto-headquartered fund will focus on investing in early-stage artificial intelligence (AI) startups and other firms focusing on cutting-edge science, known as “deep tech.”
“Our focus will be on the U.S and Israel”, co-founder Jeff Herbst told Reuters, adding that over of the fund’s investors came from Asia.
“Given the transformational shift (caused by AI and data science), there’s a huge opportunity to invest in startups that are leveraging those technologies.”
Herbst previously led business development and startup investments at U.S AI powerhouse Nvidia, while other-co founder Jay Eum was formerly the managing director of Korean technology giant Samsung’s corporate investment arm.
Earlier investments by GFT ventures include South Korean autonomous trucking company Mars Auto, U.S data engineering platform automation platform Switchboard and U.S health tech startup Mighty Health.
Reuters