The data science-loving early stage VC firm has a new flagship fund and an opportunity vehicle.
Two Sigma Ventures, born out of the hedge fund by a similar name a decade ago, has raised about $320 million for its fourth early-stage venture fund and $80 million for its second opportunities fund."A lot of [limited partners] are realizing that the next three years are going to be a great time to invest in venture because there's less competition, lower valuations," says partner Colin Beirne.
While the industry has recently warned of a challenging fundraising environment, Two Sigma lucked out in that it started talking to investors late last year and raised much of the capital before March-April of this year, adds Beirne.Two Sigma Ventures touts its AI and software chops both as what it brings to the companies it backs, and as foundational to how it filters and assesses prospective companies. It even has an internal research tool called Georges .
"Dropbox – it’s a dumb product," says Iltchev of the cloud file storage and sharing service. "So if you’re going to rebuild Dropbox, I would argue, make it smarter, make it do stuff for you." But with the recently growing spread of AI models and open source tools, we should be seeing such applications begin to come to market, he adds.
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