Ashton Kutcher Joining The AI Game

Ashton Kutcher’s VC Firm Raises $243Million For AI Fund In 5 Weeks

Famous actor Ashton Kutcher and music manager Guy Oseary, who manages Madonna among others are both founders of Sound Ventures. Sound Ventures is a venture capital firm that has focused on investing in companies in various sectors ranging from micro-mobility and insurance to FinTech and MedTech.

Recent reports have revealed that the VC firm will now look to ‘venture’ more into the enticing and fast-growing AI sector. This will be through an AI Fund that has been oversubscribed at $243 million.

The fund looks to invest in foundation model layer AI startups. Currently, OpenAI, Anthropic, and StabilityAI are among the startups in the fund’s portfolio.

In an interview with Bloomberg Television, Kutcher revealed, “We pulled the fund together in about five weeks. We have a base of LPs that have been with us for years on end.”

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Fortune reports that the $243 million is oversubscribed but the company is yet to disclose by how much. Oversubscribed in this scenario means that more investors want to invest in the fund than the firm is willing or able to accept. In other words, the firm has raised more capital than it originally intended or expected.

Speaking about the fund, Mr. Oseary says, “We anticipate that A.I. 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 A.I. foundational platforms.”

This is not the first time the firm will invest in AI. As Kutcher discloses, “We’ve been investing in AI for the last seven years, but when we saw GPT be launched, we realized that this was an absolute breakthrough.”

According to the company, artificial intelligence has grown significantly as a result of reaching a “stage of usability” for both consumers and enterprises.

Effie Epstein, the third general board member says, “Our team is well-positioned to continue investing in, and supporting, exceptional founders that are thoughtfully shaping the future through artificial intelligence.”