It was again within the Pandemic period of 2021 that we reported on the launch of Moonfire, on the time a $60 million “Fund I” seed-stage “data-driven” VC geared across the new world of distant working and distant pitching.
It’s new $115 million fund-raise (“Fund II”) plans to proceed what it calls its “data-driven” strategy.
Since its launch by former Atomico co-founder Mattias Ljungman, Moonfire says it has built-out customized AI fashions and a tech stack to seek out new potential startups.
It now claims, in a statment, to evaluate “as much as 50,000 firms each week” (though this declare has not been independently verified by TechCrunch).
That stated, it claims, as an illustration, to have found UK Fintech LiveFlow by way of its AI engine, happening to guide the Pre-Seed spherical alongside Seedcamp.
The fund says it’s taking a look at firms in AI, Web3, and AR/VR, in addition to well being, work, finance and gaming.
Ljungman stated the fund is now mixing its remote-investing fashion with in-person conferences: “The in-person is totally occurring extra. We do this on a month-to-month foundation. We even have our Pulse occasion and our Seed occasion as nicely. So we imagine within the integration of distant and in addition in-person.”
Moonfire says it has led 23 offers and co-invested in an extra 27 alongside VCs akin to Sequoia, Accel, Index, Normal Catalyst and Accel.
Portfolio firms embrace Humaans (raised a $15m Collection A), Lightdash ($7M spherical led by Accel), and GOALS ($20m Collection A spherical with Seven Seven Six). Along with its $90M Fund II, the agency has raised $25M to speculate by way of its Alternative Fund.
Moonfire Ventures associate Mike Arpaia added: “The facility of the AI and VC partnership has at all times been on the core of Moonfire and, with the launch of Fund II, we see it transfer to the subsequent stage. This new stage combines human and machine like by no means earlier than, hoping to show an inefficient and inequitable business on its head.”