Moscow-based AI1 Ventures launches with $100 million fund

In conjunction with one of Russia’s most important and valuable research centres, the AI cluster from Novosibirsk Akademgorodok, the investment group Perspective Projects has launched a new venture capital fund, AI1 Ventures.

Officially registered in Luxembourg, the fund has over $100 million in assets under management, and, as you might have guessed, will focus investments on artificial intelligence, machine learning, cybersecurity, and data science technologies.

Targeting 40 startups in Europe and Israel; seed investments will range from $250,000 to $500,000, Series A up to $3 million, and follow-on investments up to $5 million (in total/company).

AI1 Ventures currently operates out of Moscow and in support of future growth, plans to open an office in Tel Aviv before year's end.