Georgian Partners has $450 million USD committed to its fourth fund, according to a report from The Globe and Mail.
Sources told the publication that the firm expects to meet its target of $550 million USD, though Georgian declined to comment to the Globe on the fundraising itself. However, it did reveal that it’s developing software to be used by AI startups in its portfolio.
Georgian Partners managing director Justing Lafayette told the Globe that the software would be a differentiator from other VC firms “that will accelerate the pace [AI startups] can roll out and apply AI.”
Georgian Partners also said that it is developing software related to helping its portfolio companies explain how their AI algorithms make decisions, as well as a tool to combat biased decisions by AI algorithms.
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