raises $68m

The Washington DC-based tech studio closes its debut vehicle at hard cap., a technology venture studio, held a final close of its debut closed-ended fund at a hard cap of $67.7 million, according to a source close to the firm.

Fund I, which was oversubscribed by 50 percent, will provide capital to the firm’s own projects and business ventures, focusing on deploying artificial intelligence to provide solutions in multiple industries.

The Washington DC-based firm was founded in January by Jim Manzi and Ned Brody.