Microsoft (NASDAQ: MSFT) has launched a new Microsoft Ventures fund for investment in Artificial Intelligence companies focused on inclusive growth and positive impact on society.
Backed companies will allow people and machines to work together to increase access to education, teach new skills and create jobs, enhance the capabilities of existing workforces and improve the treatment of diseases, to name just a few examples.
The first investment from the fund is Element AI, a Montreal, Canada-based incubator and platform for organizations to embrace AI.
With this news, Microsoft Ventures has expanded its original mandate of supporting cloud companies that enable enterprises to navigate digital transformation. The new fund will make investments of similar size to previous investments, only including businesses with promise for strong financial returns.
FinSMEs
12/12/2016