Emergence Capital Partners raises $435m

The Silicon Valley VC firm will invest in enterprise AI startups.

Emergence Capital Partners announced a final close of its fifth flagship fund at $435 million.

Emergence Capital Partners V will invest in startups and early-stage companies that use enterprise AI and machine learning to improve workplace productivity.

The Silicon Valley-based firm’s predecessor vehicle, the $335 million Emergence Capital IV, was launched in 2015 to target startups specialising in SaaS, mobile tech, and cloud infrastructure.