Runway Fund invests in seed and pre-seed startups using AI to build new world models and forms of entertainment.
Artificial intelligence software provider Runway has unveiled a $10m corporate venture capital fund which focuses on backing innovative AI startups at seed stage.
Runway Fund invests up to approximately $500,000 in each portfolio company at seed or pre-seed stage. It targets startups that can expand the boundaries of AI world models, apply AI to fresh areas or use the technology to innovate in entertainment and media.
Runway itself was founded in 2018 and is developing AI software for video generation and world simulation. It was valued at over $5bn in its last round, a $315m series E featuring Nvidia, Adobe Ventures and AMD Ventures last month.
Other generative AI developers that have formed corporate VC funds include OpenAI, Perplexity and Anthropic, which launched its Anthology Fund in tandem with VC firm Accel.
The US-based company revealed it has been investing out of Runway Fund for several years, having built a portfolio that includes multimodal intelligence technology provider Cartesia, AI database platform developer LanceDB and molecular design software startup Tamarind Bio.
“We started Runway because we believed new tools could unlock entirely new kinds of applications and industries. Runway Fund is about finding the people and early teams who share that belief and giving them every advantage we can,” said Runway’s co-founder and chief innovation officer, Alejandro Matamala Ortiz in a blog post announcing the fund.
See all the recent corporate-backed startup deals the CVC Funding Round Database
