Salesforce Ventures has announced that it is expanding its Generative AI Fund, doubling the USD 250 million fund to USD 500 million as part of its continuing commitment to bolster the AI startup ecosystem and spark the development of responsible generative AI.

“We are already seeing AI change the way the world works, and we’re excited to build on the momentum of our Generative AI Fund. Expanding our Generative AI Fund enables us to work with even more entrepreneurs who are accelerating the development of transformative AI solutions for the enterprise, and we are excited to support the next generation of innovative founders,” Paul Drews, managing partner, Salesforce Ventures, said.

Salesforce Ventures has already invested in AI firms such as Hearth, You.com, Anthropic and Cohere.  

Recently, Salesforce also announced the launch of AI Cloud, a suite of products built for CRM in enterprises where they can boost their productivity through all the Salesforce AI applications. 

Set to launch this year, the AI Cloud platform offers hosting and delivery services for various AI models, particularly those focussed on generating text. It collaborates with multiple partners such as Amazon Web Services, Anthropic, Cohere, and OpenAI, utilising Salesforce’s cloud infrastructure.