Mythos Ventures, a newly established early-stage venture capital firm, has successfully closed its first fund with $14 million in capital commitments. The fund will primarily invest in transformative AI companies. Vishal Maini, the solo general partner of Mythos Ventures, founded the firm. Maini is joined by partners Jonathan Eng and Paul Gu, whom he has known since childhood. The firm, based in San Francisco, attracted backing from renowned investors, including Phil Black, co-founder of True Ventures, and Walter Kortschak, managing director of Summit Partners.
Key Takeaway
Mythos Ventures, a new AI-focused venture capital firm, has raised
4 million for its first fund. The firm, led by founder Vishal Maini, aims to invest in transformative AI companies that will have a significant impact on various industries. Despite the competitive landscape, Maini believes that the next decade will witness the rise of history-defining companies in the AI space.
Building a Strong Foundation
Maini expressed his belief that the next decade will witness the birth of groundbreaking companies that will redefine history through transformative advancements. He explained that the team decided to establish Mythos Ventures now because they see the industry at the cusp of transitioning from research to product-ready applications. Despite acknowledging that it may seem like a challenging time to start an AI-focused venture capital firm, given the high competition in the space, Maini managed to secure commitments within six months, surpassing his initial target of $6 million.
Focusing on Underhyped Areas
Mythos Ventures aims to invest in underhyped areas within the AI industry. Rather than heavily relying on generative AI, the firm seeks out startups that utilize machine learning paradigms and artificial cognition to disrupt industries. Additionally, Maini is interested in artificial general intelligence-proof companies that will remain relevant in the next five to ten years, envisioning a future where AI is so prevalent that distinguishing AI companies will no longer be necessary.
Investing in the Future
Mythos Ventures has already made investments in four companies from its inaugural fund. One of these companies is Elicit, which announced its first funding round this week. Elicit is building an AI research assistant designed to automate scientific review processes. Another investment is in Monumental, a company focused on creating AI-enabled robotic stone-carving factories. Lastly, ValueBase, a startup automating real estate valuations, has also received financing from Mythos Ventures.
Maini emphasized that Mythos Ventures aims to support founders from the idea stage all the way to the end. The firm’s long-term vision is to invest in companies that will thrive during the widespread adoption of AI, as it becomes an integral part of various industries.
