MTX Group, a US technology consulting firm, has formed a VC arm, MTX Ventures, to invest in enterprise AI startups.
The new unit will invest in pure-play AI companies, startups whose technology is improved with AI, and cybersecurity companies that address security hazards from enterprise AI and cloud adoption.
It will write small cheque sizes between $25,000 and $250,000 in pre-seed and seed startups and will invest between $500,000 and $2m in growth-stage companies.
The ventures unit will offer portfolio founders access to its customers including state, local and federal government agencies. It will also offer access to the parent’s cloud, engineering and data science teams.
It already has made three publicly disclosed investments including MavQ, a platform that automates content; and Saltbox, a, enterprise software company for Salesforce customers.
MTX consults government agencies and businesses on how to digitise operations.
