Glasswing collects $112m for US East Coast’s ‘largest AI-focused fund’

Glasswing Ventures has raised $112m for the close of its debut VC fund, making it the largest AI-focused vehicle on the US East Coast according to the firm.

The fund will invest in early stage artificial intelligence-focused enterprise software and cybersecurity startups.

The firm has a couple of FinTech companies in its portfolio. Earlier in the year, Glasswing led the $5.3m investment into data loss detection and response solution Allure.

Its other investment in the space was another lead investment, but to dark web intelligence company Terbium Labs, which raised $6m late last year. The technology helps financial services to protect customer data for credit cards, account details and login credentials.

Glasswing is headed-up by managing partners Rudina Seseri and Rick Grinnell alongside managing director Sarah Fay.

“As a majority women-led VC firm, we are incredibly proud to lead by example and disrupt the status quo in our industry,” said Fay.

The Boston-based firm’s previous investments include Talla, Allure Security and Terbium Labs.

Seseri added, “Raising an AI-focused fund on the East Coast is just the beginning for Glasswing Ventures.”

“As we embark on a journey to shape the future, we are laser-focused on investing in exceptional founders who leverage AI to build disruptive companies and transform markets. Beyond providing smart capital, we are firmly committed to supporting our entrepreneurs with all facets of building and scaling their businesses.”

Copyright © FinTech Global

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