SparkLabs, an early-stage venture capital firm known for backing AI giants like OpenAI, has launched a $50 million AIM AI Fund. This fund will support AI startups globally, with a focus on those emerging from its AIM-X accelerator in Saudi Arabia.
SparkLabs plans to invest in 50–70 companies, allocating 35% to accelerator participants and the rest to Series A and B rounds. The accelerator’s first batch of 14 startups, spanning various industries from AI-powered climate software to video analytics, will be unveiled at the GAIN Summit in Riyadh.
“The accelerator will seek a minority allocation for Saudi Arabia or MENA investments, about 10%-20%,” said co-founder and partner of SparkLabs Bernard Moon. “The majority will be just the best AI startups regardless of location… I assume the majority in the US.”
