AI

Despite investor concerns about how sustainable AI-enabled fintechs' business models are, Nnamdi Okike expects fairly rapid adoption of these technologies to continue.

Fund II includes new commitments from existing LPs such as Prudential Financial, the Rutgers University Endowment, Ford Foundation and Liberty Mutual Investments.

The AI- and frontier tech-focused firm added an endowment, two foundations, a couple of large family offices and a couple of very large wealth advisory firms for its latest fund.

LPs in previous funds include the Hartford Fire Insurance Company, the Missouri Department of Transportation and Highway Patrol Employees Retirement System and the Ford Family Foundation.

After multiple exits as an entrepreneur, the former Sequoia scout investor will spearhead investments exceeding $100m that Fuel plans to make in AI start-ups.

Limited partners in the Tel Aviv firm’s previous growth funds include Altschuler Shaham, Clal Insurance Enterprise Holdings, pension fund New Mivtachim, and fund of funds Cendana Capital.

Government-related group British International Investment and Lucknow-based Small Industries Development Bank of India are among the Mumbai firm's limited partners in earlier funds.

LPs want to know how GPs are using artificial intelligence in fundraising and diligence processes, how they are managing risks and what safeguards they have in place, attorneys say.

The Las Vegas-based firm is leveraging its founders’ backgrounds to invest in cybersecurity, infrastructure, data and AI start-ups.

The firm is already exhibiting strong results, with one unicorn, a successful exit and five up rounds among the achievements of half of its 12 investments so far.