Reflecting a continued focus on machine learning, Google has announced a new venture fund specifically aimed at artificial intelligence. Gradient Ventures will focus on providing technical mentorship for early-stage startups focused in the burgeoning field.
Update: The Financial Times is reporting that Google Ventures is shutting down its $125 million European fund. Starting in 2016, all investments will be made by a global fund, rather than having separate US and European divisions. Five investments made by its European fund were in the UK, while the sixth, a Swedish VR gaming studio, was invested by its US fund.
As 2015 comes to a close, Google Ventures, Alphabet’s venture capital arm, has released their year in review. In a letter, CEO Bill Maris says the firm invested in 39 companies this year and has $2.4 billion under management. For comparison, they had $1.6 billion and invested in 57 new companies last year.