SparkLabs, a prominent early-stage venture capital firm known for backing AI giants like OpenAI and emerging startups such as Vectara, Anthropic, and xAI, announced the closure of a $50 million fund dedicated to supporting AI startups.
Named the AIM AI Fund, this latest financial commitment will fuel investments through SparkLabs’ AIM-X accelerator in Saudi Arabia and in AI startups worldwide.
The AIM-X accelerator, launched earlier this year as part of Saudi Arabia’s national AI Mission, represents a strategic effort to advance AI technology in the region.
SparkLabs plans to allocate approximately 35% of the new fund to participants in the accelerator, with the remaining 65% targeted at Series A and Series B investments beyond Saudi Arabia, with a particular focus on U.S.-based startups.
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SparkLabs’ new fund highlights the broader trend of increasing global interest in AI, especially generative AI, which has spurred a surge of new startups and attracted significant investor attention. The firm aims to invest in 50 to 70 companies from this fund, with check sizes ranging from $200,000 for accelerator participants to $5 million for later-stage investments.
Bernard Moon, co-founder and partner at SparkLabs, emphasized that while the fund will seek minority allocations in Saudi Arabia or MENA, the majority of investments will focus on the most promising AI startups globally, particularly in the U.S., which continues to lead in the number of AI startups founded in recent years.
SparkLabs has already invested in 14 startups like viACT, IdeasLab,Ahya and some other.
