Base10 Partners Closes 2 Funds Totaling $850M To Invest In Real Economy Automation
San Francisco venture firm Base10 Partners closed two new funds totaling $850 million to back companies automating the real economy with AI, sectors like logistics, payroll, and construction. The raise lifts the firm's assets under management to $2.6 billion. Co-founder Adeyemi Ajao frames the strategy as using technology to give the other 99 percent of businesses the capabilities once reserved for the top 1 percent.
Key Takeaways
- Crunchbase News spoke with co-founder Adeyemi Ajao , who describes the firm's thesis as using technology to bring capabilities traditionally available to the top 1% to the other 99%.
Portfolio companies that fit that thesis include LatAm neobank Nubank ; fleet safety management startup Motive ; WeTravel , which is a tool for travel agents; Happy Robot , which develops agents for enterprises; and coffee chain Blank Street .
- Manufacturing intelligence is another area of interest.
Ajao asks: Can AI understand manufacturing processes the way LLMs understand text, whether it's perfumes, pharmaceuticals, chips or concrete, for real economy applications?
- "We might ask what IT support firms look like when you have AI, or what the software stack of the modern restaurant is," said Ajao.
The firm tries to meet every company globally operating in that space.
- Base10 has created an internal AI system called Base11 to classify companies, and automate research.
However, "the actual decision-making and winning is more human than ever," said Ajao.
- Related Crunchbase query: Base10 Partners Lead Investments Illustration: Dom Guzman Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.
Stats & Key Facts
- #San Francisco venture firm Base10 Partners closed two new funds totaling $850 million to back companies automating the real economy with AI, sectors like logistics, payroll, and construction.
- #The raise lifts the firm's assets under management to $2.6 billion.
- #With a strong focus on logistics, payroll, construction and other sectors, San Francisco-based Base10 Partners has raised two funds totaling $850 million: a seed and Series A fund 4, and a Series B fund 2 to invest in automation for the real economy.
- #Gené Teare San Francisco-based Base10 Partners has raised two funds totaling $850 million: a seed and Series A fund 4, and a Series B fund 2 to invest in automation for the real economy.
With a strong focus on logistics, payroll, construction and other sectors, San Francisco-based Base10 Partners has raised two funds totaling $850 million: a seed and Series A fund 4, and a Series B fund 2 to invest in automation for the real economy. Gené Teare San Francisco-based Base10 Partners has raised two funds totaling $850 million: a seed and Series A fund 4, and a Series B fund 2 to invest in automation for the real economy. Crunchbase News spoke with co-founder Adeyemi Ajao , who describes the firm's thesis as using technology to bring capabilities traditionally available to the top 1% to the other 99%.
Portfolio companies that fit that thesis include LatAm neobank Nubank ; fleet safety management startup Motive ; WeTravel , which is a tool for travel agents; Happy Robot , which develops agents for enterprises; and coffee chain Blank Street . The firm has a strong focus on logistics, payroll, construction and other real economy sectors. It is also exploring vision models and world models - the equivalent of LLMs for visual understanding.
If AI could truly understand every pixel and atom in a construction site, that will unlock robotics, Ajao said. Manufacturing intelligence is another area of interest. Ajao asks: Can AI understand manufacturing processes the way LLMs understand text, whether it's perfumes, pharmaceuticals, chips or concrete, for real economy applications?
For more details please read the original article at Crunchbase News.
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