SparkLabs Closes $50M Fund to Expand Global AI Startup Investments
Venture capital firm SparkLabs raises a $50 million fund to invest in artificial intelligence startups through its Saudi Arabian accelerator and global Series A and B rounds. The firm plans to back 50 to 70 companies while targeting the best AI talent regardless of geographic location.
Venture capital firm SparkLabs closes a $50 million fund called the AIM AI Fund to invest in early-stage artificial intelligence startups. The firm, which previously backed major AI players like OpenAI and Anthropic, directs this new capital toward participants in its AIM-X accelerator in Saudi Arabia as well as AI companies located around the world. This financial move highlights the ongoing rush among investors to find the next breakthrough AI company amid surging global interest in generative technology.
The new fund allocates 35 percent of its capital to support startups within the AIM-X accelerator program, while the remaining 65 percent targets Series A and Series B investments outside of Saudi Arabia. Co-founder Bernard Moon notes that the accelerator focuses a small 10 to 20 percent minority allocation specifically on Saudi Arabia or MENA region startups. The firm expects the majority of its global investments to land in the United States, which continues to lead the world in founding new AI companies.
SparkLabs plans to deploy this capital across 50 to 70 companies in total with varying check sizes depending on the startup stage. Accelerator participants receive average investments of $200,000 that can reach up to $500,000 in unique cases, while later-stage Series A and B rounds receive between $1 million and $5 million. The firm includes a government fund of funds among its limited partners and prepares to announce the first batch of accelerator participants at an upcoming global conference.