Exclusive: Tourring Capital, founded by investors Ex-M12 and SoftBank, closes 330 million dollars First Fund

The survey suggested that the generative AI pilots fail at 95% of the time, a shocking proposal at a time when VC, startups and holders plow billions in the “deployment of AI”. Samir Kumar, general partner of Tours Capital and previously a CVC veteran, is well equipped to analyze what is happening here.

“The reaction is:” Oh my God is all the media threw, “said Kumar.” “This thing is not working. We waste our time.” Catastrophe, right?

This is a question which, at a certain level, Kumar, Nagraj Kashyap and Priya Saiprasad expressly started to tour in 2023 to answer. The group met over the decades, weaving each other in the field of corporate venture capital – Kashyap and Kumar were in Qualcomm Ventures together, while Kashyap, Kumar and Saiprasad are all connected to the M12 of Microsoft, and Kashyap and Saiprasad synchronized at SoftBank Vision Fund II. This context, making venture capital for business giants, gives the tour a unique set of contact points.

“At Microsoft, the only thing Satya was talking about all the time, and that we have all internalized, is the growth mentality,” said Kashyap. “So we enter the office saying that we will learn something new every day. We don’t know everything, we learn everything.”

Touring has now closed its first fund at $ 330 million, Fortune has learned exclusively. As they collected this first fund, they also made 12 investments, especially in Numa, CUSP and ExAforce. The company also managed the 33 million dollars B series in the Trust Center platform, which was acquired by Drata in February.

“We are going after the deep vertical verticals of pain, then we see where AI compatible software could actually help generate customer value,” said Saiprasad. “It is the heart of what we do, compared to necessarily invest in the media threshing layer of foundation models. We tend to stay away from this side of the house. ”

The tour team does not make bone on this subject – they invest in the fervor of a media threshing cycle. In fact, the idea of ​​tour occurred in the middle of the crash of another media threshing cycle, in 2022, when the group decided to start a VC because the technology market had just collapsed, software assessments falling by more than 80% just when the adoption of AI consumers began to settle.

“We have seen what we call bubbles formed during the first parts of a technical flash function,” said Kashyap. “I think AI will be very, very created to wealth for the economy, for everyone. It’s just at first, so everyone rushes into the gold rush, it’s now. So we have chosen our application on the application side and this is how we aim the landscape. ”

See you tomorrow,

Allie Garfinkle
X: @Agarfinks
E-mail: Alexandra.garfinkle@fortune.com
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Business affairs

– SmoothnessAn operating system based in San Francisco for several -day travel activities, has raised $ 92 million in CA financing. Sapphire Adventures led the Tour and was joined by Left road capital,, Base10,, Cross Streamand providential investors.

– FetcherrA developer of Tel Aviv, in Israel of an AI market engine for airlines, has raised $ 42 million in series C. Dirty Adventures led the tour and was joined by existing investors Battery Adventures,, LEFT way CapitalAnd Sheep m.

– MimicryAn intelligence company based in the United Kingdom, has raised $ 26.2 million in series B financing. Paladin Capital Band led the Tour and was joined by Khosla Adventures,, LGVPAnd Entrepreneur first.

– CorinthianA Lausanne technology developer in Switzerland, designed to manage the heat produced by computer flea, has raised 24 million dollars in series A series. Blueyard Capital led the Tour and was joined by Founder,, Irrigation Capital,, Celsius Industries,, XTX Adventuresand others.

– SynthesizedA provider of data and infrastructure infrastructure of tests based in London, United Kingdom and New York, has raised $ 20 million in series financing. Redalpine led the Tour and was joined by Qi Capital,, Chief AdventuresAnd UBS.

– Cosmoserve SpaceA spatial debris moving company based in Hyderabad, India, has raised $ 3.2 million in pre-series funding. Alan Rutledge led the Tour and was joined by Alms Adventures,, Shakti VCAnd Ram Shriram.

– RaidAn LLM assessment platform based in Cambridge, in the United Kingdom for AI manufacturers, has raised 2.2 million pounds Sterling ($ 3 million) in pre-series funding. Double Adventures led the Tour and was joined by Cambridge Business Adventures,, Parkwalk Advisers,, Funds F,, Vento Adventuresand providential investors.

Investment capital

– Battery Adventures agreed to conduct a majority investment in Signal IAAn intelligence platform on risks and reputation based in the United Kingdom, worth $ 164 million.

– 3dr gooda portfolio company Arsenal Capital partnersacquired RopesA platform for monitoring the workload and automation based on Sacramento, California, focused on health establishments. The financial conditions have not been disclosed.

– Bnp Associatessupported by Beam dust Capitalacquired Studdiford Technical SolutionsA consulting company based in Alexandria, Virginia, specializing in the development of airport systems and transport safety. The financial conditions have not been disclosed.

– Cleanwater1supported by Baird Capitalacquired Pure FiltrationA supplier based at Atlanta, Georgia, air purification and filtration services in the gas phase. The financial conditions have not been disclosed.