Plug and Play today announced the final close of its $50 million Fintech & AI Fund, the largest industry-themed vehicle in the firm’s history. Raised from nine institutional backers, the fund will invest globally in early-stage companies applying artificial intelligence to financial services.
CEO Saeed Amidi said the launch underscored Plug and Play’s commitment to pairing transformative founders with its corporate network.
At the Silicon Valley June Summit, EXL’s Sandeep Manchanda stated the ecosystem had become a prime source of AI-driven insight.
Partner Eugenio Gonzalas added Plug and Play would back technical teams with domain expertise and expected to support about thirty startups.
Portfolio companies gain access to 500-plus corporate partners, accelerating revenue growth. Deployments begin this quarter across global hubs.
