Betaworks’ third fund closes to $ 66 million to invest in early phase AI startup companies

Betaworks in New York has closed the $ 66 million fund III, which focuses on investing in early phase AI companies.

Betaworks has invested in AI at least since 2016, and through its investment program camp has supported companies such as Halgingface and Granola. Jordan Crook, a partner of the company (and former Techcrunch), said that the new fund focuses on representatives, original AI interfaces and application layer AI.

“We will continue to place straight seeds and betaworks around these themes,” Crook said.

Fund III is aiming to invest in at least 25 prejudices in seed investment and to make at least 50 investments in startup companies as part of the BetaWorks CAMPS program. “So far we have made about 37 offers,” Crook said, adding that the average check size was about $ 500,000.

Crook called the current fundraising environment a “foaming” startup and “spike” to the funds, but said that the fund III saw many of the companies’ returning to invest in investow.

“The fundraising environment during the project was challenging in 2024, and we were not released, given that we cross the fund,” he said.

Betaworks previously raised the $ 46 million fund II II in 2020 and the $ 48 million fund I in 2016. It launched in 2008 as a Venture studio, and has since become an excerpt in the New York Technology Ecosystem, launching its Betaworks camp program in 2016.