Managers

Limited partners include AMB Holdings, Builders Vision, Cisco Foundation, Stray Works and Australian impact investing firms Understorey Ventures and Wedgetail.

The Silicon Valley-based firm plans to invest in physical and applied AI through SAFE notes at the earliest stages.

With LPs such as Phoenix Insurance, Clal Insurance and Amitim Pension Funds, the fund will invest in 10-12 companies.

General partner Steve Vassallo explains how Foundation's laser focus on early-stage has generated big exits from investments in Solana, Venafi and ForgeRock.

LPs in previous funds include Carlyle Group co-founder Bill Conway, New Mexico State Investment Council and the California Public Employees' Retirement System.

Fundraising for the global venture capital industry totaled $80.1bn in 2025, down 38% from the previous year, according to Venture Capital Journal research.

Artificial intelligence is becoming increasingly sophisticated as large language models are equipped with contextual reasoning capabilities.

Limited partners in the new fund include BDC Capital and Canadian Imperial Bank of Commerce and new strategic investors Caterpiller and Autodesk.

Higher percentages of funds with 2020 and 2021 vintages began to generate DPI for the first time in the past year.

Among the limited partners in previous funds are endowments, private pensions, funds of funds, corporate balance sheets, wealth managers and family offices in North America, Australia and Asia.