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Trumaker is one of Eniac Ventures' portfolio companies. | Image screenshot: Trumaker.

Eniac Ventures closes Eniac IV fund with $100 million to invest in AI-layered startups

Eniac Ventures, a New York-based venture capital firm, has closed its fourth fund, Eniac IV, with $100 million.

Eniac IV will invest in startups focused on augmented reality, virtual reality, bots, robotics and other software-powered technologies.

And there will be a strong focus on startups that have a layer of AI embedded into their platforms, the fund’s founders said in a blog post:

We don’t see AI as a sector, but rather a fundamental titanic shift that cuts across everything we do. Much like ‘big data’ when we started investing in 2010, we expect almost every investment we make to utilize different branches of AI to solve big problems for users and customers.

Eniac was co-founded in 2010 by its general partners Hadley Harris, Nihal Mehta, Vic Singh and Tim Young as a seed-stage fund.

The firm’s portfolio of fashion tech, retail tech and lifestyle investments include Trumaker, Owlet and TapCommerce.

As part of the new fund, the team at Eniac has also announced the launch of Eniac Platform, a free service that helps its portfolio companies with business development and operations, finding new staff and communicating with the press and funding support.

By Ashley Paintsil

 

 

 

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