We are pleased to announce our new positioning as a venture capital firm focused entirely on early-stage AI investments. This is a position that we arrived at with great thought and care, over the course of our last seven deals, which were all early-stage AI startups. What we saw was that our deep venture experience, combined with prepared minds in the AI space, allowed us to source exceptional opportunities with the benefit of strong VC partners. In addition, we were particularly pleased with how a new breed of amazing AI entrepreneurs resonated with our approach as venture investors to help them build foundational value for their businesses.


To learn more, please visit our new website - iconventures.com

Exits in AI

Rockset

A real-time analytics database with applicability for generative AI infrastructure

Acquired by OpenAI in June 2024 for its best-in-class RAG capabilities; OpenAI's first enterprise acquisition

Duetto

Leading-edge hospitality revenue management software

Acquired by GrowthCurve in June 2024 as a vertical AI platform to launch new products and business lines

New AI Investments

A seed investment focused on autonomous AI agents for intelligent security

A seed investment in an AI platform supporting the creator economy

An early-stage investment in an AI-powered experimentation platform to enhance data-driven decision-making

An early-stage investment building an agentic platform that has launched the world’s first AI Data Engineer

An early-stage investment creating customized GenAI solutions for complex data and enterprise workloads

An early-stage investment in a customized GenAI platform to conduct end-to-end medical research

Strength of the Icon Portfolio

Currently, two-thirds of Icon portfolio companies are either AI native or AI adopters. The overall portfolio is quite healthy with aggregate revenue growing 13X from initial investment to a total of over $2.4B. This is also reflected in a few notable up-round financings this year. All of these investments were originally made in the seed or early-stage.

Midi Health
$60M series B

Empower Finance
$75.6M series C

Rula Health
$125M series C

Maven Clinic
$125M series F  

These and other best-in-class winners speak to our ability to invest with great care and selectivity. This is now also proving to be the case in the AI era.

"Mad props to Icon for seeing the opportunity for us in AI which eventually led to the OpenAI acquisition."

– Venkat Venkataramani, Founder, Rockset

Foundational VC for AI

Icon Ventures

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