Wing – an early-stage investor and long-term company builder in B2B technology – recently announced that it has closed Wing Four, a new $600 million investment fund. And Wing Four will be invested according to the firm’s core thesis of the AI-first transformation of business, supporting founders who are developing key elements of the emerging AI-first technology stack, and putting it to work to transform major industries.
Launched by former partners from Accel and Sequoia Capital, Wing has been investing in AI since the firm’s founding a decade ago, motivated by a deep conviction that modern enterprises are built on data and powered by AI. And Wing’s partners have invested in 23 enterprise technology companies that have gone public or achieved billion-dollar outcomes, including iconic data pioneer Snowflake where Wing was an early investor and long-term partner, investing in every financing from seed round through landmark IPO.
Wing-backed companies still in their early stages include Pinecone – which has emerged as the leading data platform underpinning the new generation of AI-first applications; and Path, which puts data and AI to work to expand access to mental health services.
Wing Four comes during a time of the AI-first transformation and allows it to capitalize on its long-standing AI-centric approach with investments in new data platforms, AI processing and tooling, and an array of autonomous applications that use embedded AI to drive key business outcomes.
Wing’s AI-first thesis originates in the firm’s founding observation of the “DMC Shift,” which proposed in 2013 that the combined influence of three independently powerful forces – data, mobility, and the cloud – would collectively drive a new era in B2B technology. The DMC Shift laid the groundwork for practical AI to deliver widespread business value, enabling the new AI-first super-cycle to begin in earnest.
About a decade ago, at the inception of Wing and the launch of its first institutional fund, Wing One, founders Gaurav Garg and Peter Wagner set out to build a venture firm dedicated to helping companies build strong foundations to support long-term success. Now the firm boasts a team of seven highly experienced investment partners, including Sara Choi, Zach DeWitt, Jake Flomenberg, Tanay Jaipuria, and Chris Zeoli. Wing also has a powerful Founder Success Team that provides portfolio companies with specialized assistance in research, talent acquisition, marketing, and market development.
KEY QUOTES:
“Wing Four represents our commitment to driving the AI transformation of business. AI is the next super cycle in technology. Just as data, mobile, and cloud technologies drove digital transformation over the last 15 years, AI will reshape businesses over the next decade.”
— Gaurav Garg, Founding Partner at Wing
“We’ve made over 100 investments since forming Wing 10 years ago. Some of them are already household names, like Snowflake, Cohesity, Gong and Shape Security; others are bursting onto the scene, like Pinecone, Path, Copy.ai, and Medely. Such companies are the best expression of why we founded Wing: to empower our founders and their customers to do their best work.”
— Peter Wagner, Founding Partner at Wing
