Financial group GVC Gaesco has joined with venture capital firm Next Tier Ventures to establish a new €50 million fund aimed at supporting startups specialising in artificial intelligence (AI). The National Securities Market Commission (CNMV) has approved the creation of the investment vehicle, named Next Tier GVC Gaesco S.C.R.S.A.
This collaboration will focus on targeting 30–35 operations in B2B AI startups across Europe, the United States, and Latin America. The fund will focus on identifying projects where AI technologies enhance industries and improve lives, with a strategy rooted in selection, active involvement, and tailored divestment plans.
The fundraising process will prioritise family offices and private investors, both Spanish and international, supporting the selected companies from their start to mature stage. To that end, the fundraising process will be carried out in the coming months.
This new investment vehicle is led by Patricia Pastor and Ruben Colomer, co-founders of Next Tier Ventures, a venture capital company specialised in investing in artificial intelligence and B2B software companies.
Pastor has managed over €95 million in investment funds, supported numerous startups, and holds key roles including ambassador for Weinvest, founder of Acelera Miami, and promoter of the Valencia Digital Summit. Colomer, co-founder of Plug and Play Spain, has invested in over 70 early-stage startups and served as Investment Manager at GoHub Ventures.
Paco Illueca, Investment Director of GVC Gaesco, expressed enthusiasm for the initiative: “Our partnership with Next Tier Ventures stands for a further step in GVC Gaesco’s commitment to venture capital, thereby completing our range of investment products and meeting the growing demands from our customers. The birth of this first AI – focused investment fund is only the very first of many to be released as a result of our collaboration with Next Tier Ventures.”
“Our goal is to create the longest Artificial Intelligence funds line from Spain. This technology will change our work styles and communication towards a faster and better world. Countries that invest in AI will be come more competitive and grow faster,” said Patricia Pastor, general partner at Next Tier Fund.
This initiatives combines the financial expertise of GVC Gaesco with Next Tier Ventures’ track record in technology investments, as well as complementing GVC Gaesco’s existing venture capital activities, which include Zamit I, Zamit Energy, and Itucap.
Read the orginal article: https://www.eu-startups.com/2024/12/e50-million-fund-to-invest-in-artificial-intelligence-startups-launched-by-gvc-gaesco-and-next-tier-ventures/
