Sheila Gulati, co-founder and managing director of Tola Capital. (GeekWire File Photo)
Bellevue, Wash.-based investment firm Tola Capital raised $230 million for its third fund that will provide capital for early stage startups focusing on AI and enterprise software.
Founded in 2010 by former Microsoft managers Sheila Gulati and Stacey Giard, Tola has invested in more than 20 companies to date, including Seattle-based Pulumi and others based across the country.
The firm has focused on companies in the cloud computing sector.
"The cloud was the catalyst for incredible value creation over the past decade," Gulati said in a statement. "Having been at the forefront of that shift and opportunity, I foresee the same potential when it comes to AI, along with some key differences."
Gulati, who helped launch Microsoft's Azure cloud platform and ran the database and developer tools businesses, said AI will have a "much broader impact" and happen in a "much faster timeframe."
Tola has raised $688 million across its three funds and has more than a dozen exits in its portfolio, including Clipchamp (Microsoft), OSIsoft (AVEA), and Hybris (SAP).
No comments:
Post a Comment