The fund’s investor base includes leading global institutions and strategic partners, with PEAK6 Strategic Capital and Apex Fintech Solutions serving as the anchor investors for this initiative.
As a result, Magnetar AI Ventures will focus on companies operating throughout the AI stack, including models, infrastructure, and applications, as well as across various modalities such as text, audio and visual.
Meanwhile, the fund will target businesses with unique technologies, execution-focused management teams and proven business momentum.
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Magnetar managing partner, David Snyderman, stated: "We believe generative AI will reshape the future. The creation of this fund solidifies our commitment to advancing innovative AI solutions and supporting the bold entrepreneurs catalysing this technological revolution.
"As we continue to identify compelling investment opportunities and deploy capital, we are confident in our ability to help drive growth for our portfolio companies while generating long-term value for our investors.”
The fund has also partnered with CoreWeave, the AI Hyperscaler, to provide portfolio companies with exclusive access to a dedicated GPU cluster and fully reserved high-performance computing.
Additionally, portfolio companies will have access to technical expertise and premium support, the company stated.
Magnetar, senior portfolio manager and partner, Jim Prusko, said: "As AI rapidly advances toward widespread adoption, and demands on infrastructure intensify, it has become clear that HPC is the backbone of the AI economy.
“We’re excited to deepen our partnership with CoreWeave to provide our portfolio companies with the HPC and resources necessary to build the businesses of the future.”
Apex Fintech Solutions, co-founder and managing partner of PEAK6, Jenny Just, added: “We’re thrilled to partner with Magnetar as a significant investor to support the next wave of AI advancements. Through this Fund, portfolio companies will be able to solve financial and technical needs in one stop.
“Our investment underscores both our confidence in Magnetar’s approach and our conviction in the transformative potential of generative AI.”
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