Ashton Kutcher, Guy Oseary’s Sound Ventures Launches $240 Million AI Investment Fund

·2-min read

Sound Ventures, the venture-capital firm co-founded by Ashton Kutcher and music manager Guy Oseary, is looking to back “category-defining” artificial intelligence businesses.

The VC firm announced that it has closed Sound Ventures AI Fund, oversubscribed at nearly $240 million. The fund seeks to invest in AI businesses at the foundation model layer. Currently, the fund’s portfolio of companies includes OpenAI, Anthropic and StabilityAI. Kutcher, Oseary and Effie Epstein lead Sound Ventures as general partners.

More from Variety

According to the partners, AI technology has “reached a stage of usability across enterprises and consumers that is driving significant growth,” and that the Sound Ventures team has experience in two industries at the heart of generative AI: technology and entertainment.

“We believe this is potentially the most significant technology we will experience since the advent of the internet,” Kutcher said in a statement. “The foundation model layer companies are defining the category, and, in our view, they have the power to transform businesses and everyday life. That is a conversation we want to be in.”

Oseary added, “We anticipate that AI is going to play an impactful role in everything we do — including entertainment, an industry we know well. The companies we are backing will be at the forefront of this powerful innovation, and Sound Ventures is excited to bring our distinct experiences and connectivity to responsibly support these AI foundational platforms.”

Sound Ventures has already been investing in AI for the past decade, “and we believe that this moment in history will dictate the trajectory of this technology,” Epstein said. “Our team is well positioned to continue investing in, and supporting, exceptional founders that are thoughtfully shaping the future through artificial intelligence.”

Sound Ventures AI Fund will invest alongside Sound’s early-stage funds. Founded in 2015, Sound Ventures manages more than $1 billion in assets; the firm’s prior investments include Airbnb, Uber, Flexport, Brex, GitLab, Airtable, Affirm, Forethought and

Read the Report
Read the Report

Best of Variety

Sign up for Variety’s Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.

Click here to read the full article.