The partnership between Xerox and Myriad aims to connect mature corporations with innovative startups that can transform their businesses. Xerox views its investment in Myriad as strategic, aiming to create commercial and strategic benefits in addition to investment returns. The Myriad model offers a new way for legacy brands to tap into innovation and maintain a competitive edge. The firm's independent structure can attract top talent and funding, while the close ties to Xerox ensure continued collaboration.
Key takeaways:
- Myriad Venture Partners, a new early-stage venture capital firm focusing on AI, clean tech, and B2B software, has launched with $100 million in initial funding, backed by Xerox Corporation.
- The firm aims to connect mature corporations with startups that can transform their businesses, and already has 14 companies in its portfolio.
- Xerox views its investment in Myriad as strategic, aiming to create commercial and strategic benefits in addition to investment returns, and will participate in Myriad’s Advisory Council.
- The launch of Myriad Venture Partners marks a new phase in corporate venture investing, blending startup innovation with the scale and reach of established brands to reshape industries.