Banco Sabadell’s InnoCells subsidiary will invest $10m in an AI-focused fund managed by Base10, which has now raised at least $147m.

InnoCells, the digital innovation subsidiary of banking group Banco Sabadell, has committed $10m to the inaugural fund of Base10, a US-based venture capital firm focused on automation technologies, FinExtra has reported.

Base10 was founded in January 2017 and had collected $137m for its first fund as of September this year to invest in seed and series A rounds through contributions sized between $500,000 and $5m.

The firm favours emerging artificial intelligence-powered technologies with the potential to secure mass market…