The announcement comes at a time when the AI sector is at a crossroads, with little progress made on regulatory measures for new technology applications and capabilities. However, this may change soon with Senate Majority Leader Chuck Schumer promising a "supercharged" path to AI regulation.
Key takeaways:
- Air Street Capital, an AI-focused venture capital firm, has closed a new $121 million fund to support early-stage AI firms.
- The London-based company has a portfolio of 19 AI-first technology and life science companies across North America and Europe.
- Air Street's founder, Nathan Benaich, defines an 'AI-first' company as one where the product wouldn't work without the AI component, and the customer wouldn't buy it.
- Benaich also stated that Air Street is committed to challenging powerful institutions or outdated policies that hinder AI development.