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The most active private equity investors in Artificial Intelligence and Machine Learning

  • Posted March 14, 2024 by
Andy Jones | Private Equity Info

Across industries, Artificial Intelligence (AI) and Machine Learning (ML) are fundamentally transforming business operations and driving innovation. 

Private equity platform investments in AI and ML experienced a substantial surge over the last decade, with peak investment in 2021. The graph below shows the yearly number of private equity platform and add-on investments in AI. 

A graph of growth in an investment Description automatically generated with medium confidence

Quick stats

  • 315 Private equity firms with current investments in the Artificial Intelligence and Machine Learning industry. 
  • 573 current private equity investments in AI/ML companies (2013 – 2023, 52 exits)

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Top 15 Private Equity Firms Investing in AI Companies 

The following PE firms have made at least five investments in the Artificial Intelligence space. 

  1. Insight Partners 
  2. CPP Investments 
  3. Elaia Partners 
  4. Molten Ventures 
  5. Thoma Bravo 
  6. Primavera Capital Group 
  7. EDBI 
  8. DFJ Growth 
  9. Alpha Square Group 
  10. Sorenson Capital 
  11. Valor Equity Partners 
  12. Technology Crossover Ventures 
  13. Shinhan Venture Investment 
  14. Synetro Group 
  15. General Atlantic 

Early Private Equity Investors in AI 

Some private equity firms were early adopters, making AI investments in 2015 – 2017. Notably early platform investments include: 

2015 

  • KKR and Insight Partners invested in Cylance. Cylance is a next-generation endpoint security platform based on artificial intelligence. 

2016 

  • Blackstone invested in Blue Yonder. Blue Yonder (formerly JDA Software) is a provider of artificial intelligence and machine learning (AI/ML) driven supply chain and retail solutions. 

  • TPG invested in Noodle.ai. Noodle.ai provides professional services and technical solutions by combining human learning and machine learning technologies to help clients improve customer interactions, improve decision making, and optimize business processes. 
  • Ambina Partners invested in Perigen. Perigen is a developer of fetal surveillance systems using artificial intelligence (AI).

2017 

  • Baird Capital invested in AiCure. AiCure is an artificial intelligence and advanced data analytics company targeting the healthcare industry. AiCure provides a patented mobile software-as-a-service (SaaS) platform that visually confirms medication ingestion. 
  • Galen Partners invested in CDx Diagnostics. CDx Diagnostics, Inc. is a specialized anatomic pathology laboratory that utilizes proprietary technology, including advanced neural-network analysis and deep artificial intelligence tools, to enhance the detection of precancerous and cancerous tissue initially for clinical use in both the esophagus and oral cavity. 
  • Mercato Partners invested in Ephesoft. Ephesoft is in the data capture market through deployment of smart and artificial intelligence based tools with advanced classification, separation, and metadata extraction for document intensive enterprise users. By rapidly converting unstructured data to usable information. 

  • Arrowroot Capital invested in Leadspace. Leadspace is a B2B audience management platform. Powered by artificial intelligence, Leadspace combines audience discovery, audience data management and audience modeling to help B2B marketers drive more pipeline and generate better quality leads. 
  • Visionary Private Equity Group invested in Lemonade. Lemonade is a technology-first, legacy-free insurance carrier that offers an instantaneous, un-conflicted property & casualty (renters and homeowners) product powered by artificial intelligence and behavioral economics combined with a peer-to-peer user platform. 

Major Industries for PE-Backed AI Companies 

The main industries of focus for PE-backed AI companies center around: 

  1. Healthcare 
  2. Security 
  3. Energy 
  4. Financial Services 
  5. Media 

These sectors have been at the forefront of adopting AI solutions to enhance efficiency, productivity, and decision-making processes.

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