The latest fund, which is part of a broader investment strategy, totals close to $240 million and is focused on transformative tech companies led by Sound Ventures, a firm managing over a billion dollars in assets.

With an emphasis on foundational AI ventures, the fund has put its weight behind industry frontrunners like OpenAI, Anthropic, and StabilityAI.

Over the past year, these three AI powerhouses have secured considerable financing. For instance, Anthropic's Series B funding round amassed $580 million, while OpenAI recently closed a funding round valuing it between $27 billion and $29 billion. StabilityAI, on the other hand, is seeking capital at a $4 billion valuation after securing $101 million last October. Read More In a statement, Ashton Kutcher expressed that the team at Sound Ventures views artificial intelligence as perhaps the most transformative technology since the internet's inception, asserting that companies developing foundational models are defining the future of this space.

This investment strategy aligns well with the intersection of generative AI and the entertainment domain, areas in which the Sound Ventures team possesses extensive expertise. Ashton Kutcher is known for his acting career, while Guy Oseary boasts a prominent role managing iconic artists like Madonna and U2, as well as notable NFT projects like Bored Ape Yacht Club.

"We foresee AI making a significant impact across all aspects of our lives, particularly in entertainment, where we have established insights. The ventures we are supporting are anticipated to lead the charge in this burgeoning innovation. Sound Ventures looks forward to leveraging our unique network and experiences to responsibly nurture these foundational AI platforms,\" stated Guy Oseary, General Partner at Sound Ventures.

Effie Epstein shared that Sound Ventures has been actively investing in the AI sector for over a decade. The newly launched fund will complement the firm’s existing early-stage investments, which include noteworthy names like Airbnb, Uber, Flexport, Brex, GitLab, Airtable, Affirm, Forethought, and You.com.

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• Cindy, a journalist for Metaverse Post, writes extensively on topics related to web3, NFTs, the metaverse, and AI, focusing on interviews with leaders in the Web3 sector. Originally hailing from Singapore, she currently resides in Tbilisi, Georgia, armed with a Bachelor’s degree in Communications & Media Studies from the University of South Australia and a solid decade of experience in journalism and content creation.