Leading alternative asset manager Magnetar announced the closing of Magnetar AI Ventures Fund LP – which is a $235 million venture fund that invests in early-to-growth stage companies advancing the generative AI revolution. This fund builds on Magnetar’s history of investing opportunistically across the private-public continuum and serving as a long-term partner to portfolio companies.
The fund’s investor base features leading global institutions and strategic partners, including PEAK6 Strategic Capital and Apex Fintech Solutions, the anchor investors in this initiative.
And Magnetar AI Ventures will target companies operating across the AI stack, including models, infrastructure, and applications and across modalities such as text, audio, and visual, focusing on companies with differentiated technology and talented management teams. The portfolio companies stand to benefit from the comprehensive resources of Magnetar’s institutional platform, the firm’s financial and operational expertise, and its extensive network of relationships across AI/ML and the broader finance sector.
The fund contracted with CoreWeave, the AI Hyperscaler, to provide portfolio companies with exclusive access to a dedicated cluster of GPUs and fully reserved high performance compute (HPC). Plus, portfolio companies will have access to technical expertise and premium support.
KEY QUOTES:
“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 catalyzing 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.”
- David Snyderman, Managing Partner of Magnetar
“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.”
- Jim Prusko, Senior Portfolio Manager and Partner at Magnetar
“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.”
• ⁃ Jenny Just, Co-Founder and Managing Partner of PEAK6 and Chairman of Apex Fintech Solutions
