We are amidst a major computing revolution. Artificial intelligence is here and nearing escape velocity. Progress across numerous technological vectors has led us to this point—from new model architectures to specialized hardware with vast computing power to advanced machine learning techniques.
There has never been a better time for small, ambitious teams to positively transform life as we know it. AI is no longer locked in research labs. The open source ecosystem is thriving. APIs are accessible. Costs are plummeting.
For consumers, AI is already permeating daily life. ChatGPT captured the imagination of over 100 million users practically overnight. Midjourney brings human imagination to life and supercharges creativity. Human-AI communication is becoming mainstream. We expect AI agents will soon outnumber humans.
For scientists, AI serves as a multiplier for transformational research and discovery, from life-saving drug discovery to personalized medicine (Peptone, Alphafold) to AIs that comb satellite photos of the Earth for methane leaks and CT scans for tumors.
For businesses, AI improves efficiency while unlocking new customer experiences and opportunities. Just look at Abridge, Intercom, Ada, or Jasper. Products like Copilot imbue team members with superpowers. Platforms like HuggingFace and Zapier lower the barriers to innovation and broaden access to AI.
We have crossed the Rubicon.
With this in mind, Bessemer is committing $1 billion in capital from its current funds to support entrepreneurs at the bleeding edges of AI and founders building AI-native products.
We aren’t interested in faster horses, we want to invent automobiles. We aren’t funding features or marginal improvement, we are looking for breakthroughs. And the breakouts will be built ground up with AI, by those that are agile, technical, and unencumbered by the status quo.
Our goal is to support the entrepreneurs forging new paths with AI to accelerate positive progress, transform markets, and imagine new ones.
Capital alone is not enough. We are building a community for AI founders to tap into a network of operating advisors, share field notes, and get preferred access to compute and models. We are also kicking off a series of workshops specific to companies building and innovating in AI.
And in the spirit of experimentation and learning, we launched ChatBVP! ChatBVP is your friendly neighborhood AI chatbot, here to support founders and answer questions about Bessemer. Please introduce yourself, have fun, and let us know what you think!
If you’re building an AI-native startup, we want to support you with advice, community and capital. Reach out to us at firstname.lastname@example.org and on bvp.com/ai.