Kutcher’s new fund plans to put $243 million toward artificial intelligence startups, the tech industry’s current hottest category. The portfolio already includes investments in AI startup darlings OpenAI, Stability AI Ltd. and Anthropic.
With the new fund, assets under management at Los Angeles-based Sound Ventures LLC are about $1 billion, the firm said. Kutcher said the firm had surveyed its portfolio companies to see how they were embracing AI, and that the sector would mark “the next absolute transformation for technology.”