SignalFire Unveils Ambitious Plan with New Billion Dollar Fund

SignalFire, a venture firm based in the Bay Area, raised $1 billion for its fifth fund, targeting applied AI companies and bringing its assets under management to $3 billion. The firm previously announced a $900 million fund in February 2023. New limited partners include U.S. public pension funds, an Asian sovereign wealth fund, a global bank, and a large insurer, while existing investors are composed of endowments, foundations, family offices, and fund of funds. 

SignalFire utilizes its machine-learning platform, Beacon AI, for operations including sourcing, selection, and portfolio construction. The platform scans 80 million entities and 650 million individuals to identify anomalies, benchmark companies, and facilitate talent recruitment and lead generation. The firm plans to invest this latest fund over 2.5 years, making around 100 pre-seed investments ranging from $100,000 to $1 million, and 60 seed investments from $1 million to $5 million. Early-stage investments will amount to $5 million to $30 million in companies supported at the seed stage.

The Executive In Residence (XIR) program will contribute $15 million to $30 million to assist companies with a run rate of $2 million to $10 million, targeting about 30 investments through this program. Past applied AI investments include EvenUp, Stampli, Horizon3.ai, and Grow Therapy. Consumer-focused targets include Monarch Money and Whop. The largest exit for SignalFire is Frame.io, acquired by Adobe in 2021 for nearly $1.3 billion.

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