The new fund, according to Dror Berman, co-founder of Innovation Endeavors, comes at an exciting time for building new companies, with rapid technological advancements in AI, quantum computing, robotics, and sensing. The firm's investment approach is thesis-oriented and involves actively seeking out talent in industry and academia, often before a company is formed. Despite the new fund, the firm has not yet made an investment, but Berman assures they have a pipeline in place and are actively building relationships with entrepreneurs.
Key takeaways:
- Innovation Endeavors, a venture capital firm started by former Google CEO Eric Schmidt, has announced its fifth and largest fund to date, with $630 million in capital commitments.
- The firm plans to invest in between 30 and 35 companies with this new fund, focusing on the intersection of science and technology, including areas like climate, intelligent software, health engineering, and supply chain.
- Over the past 14 years, Innovation Endeavors has invested in over 70 companies, 12 of which have exited, including notable names like SoFi, Uber, Astra, Slice, and Zymergen.
- Eric Schmidt remains actively involved in the firm, offering strategic help and insights to the companies in the firm's portfolio.