AI.VENTURE CAPITAL

Early-Stage Investment Fund

Carlos EspinalPartner

@cee

16 INVESTMENTS IN AI/ML COMPANIES.ONE OF THE LARGEST AI PORTFOLIOS OF ANY EARLY-STAGE INVESTOR ACROSS EUROPE

INVESTING IN AI

Geographies of Interest

Annual Global Financing History

Compared to Fintech & Proptech

Is Winter Coming?

> first winter in 1970-1980 due to component hype (eg. the Speech Understanding Research debacle 1974 grant

cancellation)> second winter in mid-1980's due to more component hype

(the fall of expensive 'expert systems')

WHAT IS AN INVESTMENT WINTER & HOW DOES IT FORM?

WHEN INVESTMENT DRIES UP DUE TO EXCESSIVE INVESTMENT + RISING VALUATIONS + EXCESS VAPORWARE

WHAT DOES GOING THROUGH AN INVESTMENT WINTER FEEL LIKE?

VCS DEFENDING INVESTMENTS VS INVESTING IN NEW COMPANIES + DOWNROUNDS/FLATROUNDS + LONGER TIMEFRAME TO FUNDRAISE

HOW IS AI DIFFERENT?

> Like mobile in 2007+ Sector is going from macro category to empowering sub-industries

> Major platforms (to build on) are emerging> Much more computational power available (for cheap)

> Much more structured data available

Google, Intel, Apple, Twitter, Salesforce

SUB-INDUSTRIES OF INVESTMENT

Industries where the mundane can be automated or where there is little or no margin for error

Industries where good-enough AI-based 'labor' can go mainstream due to economic factors

The Economist on The End of the Bracero and the Rise of the Machine

SO WHAT ARE WE LOOKING TO INVEST IN?

Industries where AI can unlock huge value due to lowering costs of operation or increasing value

Component technologies: Computer Vision, NLP, Open+Closed data sets

Some of our companies

> Gyant/Viz.ai - Healthcare> OpenSensors/Repositive - Data

> Reinfer.io - nlp & customer service> Beagle/Legit Patents - Legal automation

> Fraugster/ThirdEye - Transaction security> The Rocket Company - Complex & Expensive designs

WANT TO HEAR FROM EXPERTS IN THE FIELD?

The 'This Much I Know' Podcast -

> Kenneth Cukier - The Economist> Azeem Azhar - Exponential View

> Reinfer.io + IBM Watson - The state of AI> Evan Nisselson - Visual Tech + Computer Vision

> AI Is Now Event

Learn more about us @

http://www.seedcamp.com

my twitter: @ceesc twitter: @seedcamp