Microsoft Ventures Launches New Fund For AI Startups; Invests In 7 AI Powered Ventures - Inc42 Media

Microsoft Ventures has launched a new fund for investment in AI companies focussed on inclusive growth and positive impact on the society. Talking about the announcement, Nagraj Kashyap, Corporate Vice President, Microsoft Ventures, in a blogpost said, "We'll make investments in startups that are responsibly harnessing the promise of AI to empower people and businesses. Companies in this fund will help people and machines work together to increase access to education, teach new skills and create jobs, enhance the capabilities of existing workforces, and improve the treatment of diseases, to name just a few examples." The first investment from this fund is for Montreal-based Element AI – an incubator and platform that helps organisations embrace an AI-first strategy in support of these principles. With this move, Microsoft Ventures has also announced the expansion of its original mandate of supporting cloud companies that help enterprises to navigate the path of digital transformation.