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Global Frontier Technology Ventures Raises $140 Million for AI Startups

Global Frontier Technology Ventures (GFT), a venture capital firm founded by former executives from Nvidia and Samsung, has successfully raised $140 million for its debut fund. The firm, headquartered in Palo Alto, California, will primarily focus on investing in early-stage artificial intelligence (AI) startups and cutting-edge science companies, referred to as “deep tech.”

Co-founder Jeff Herbst stated that the fund will concentrate on investments in the United States and Israel, as the transformative potential of AI and data science presents significant opportunities for startups leveraging these technologies. Herbst, who previously held positions in business development and startup investments at Nvidia, brings valuable experience to the firm. Jay Eum, the other co-founder, formerly served as the managing director of Samsung's corporate investment arm.

GFT Ventures' earlier investments include South Korean autonomous trucking company Mars Auto, US data engineering platform automation platform Switchboard, and US health tech startup Mighty Health. The fund has garnered considerable interest from Asian investors, with the majority of its capital coming from this region.

The inaugural fund raised by GFT Ventures represents a significant milestone for the firm and highlights the growing importance of AI and deep tech in the investment landscape. As these technologies continue to drive transformation across industries, investing in startups at the forefront of innovation is becoming increasingly attractive for investors seeking high-growth opportunities.

Sources: Reuters