ElevenLabs and Revolut backer launches $15M solo GP fund
Carles Reina, an angel investor in the UK-based AI unicorn ElevenLabs and the digital banking platform Revolut, has launched a $15 million solo GP fund, Baobab Ventures. The fund aims to support pre-seed and seed-stage startups in AI, robotics, and defense, indicating a focus on cutting-edge technologies and their commercial applications, driving further innovation in these fields. Baobab Ventures, backed by institutional investors, will make average investments of $300,000 to $350,000. Reina, also the GTM lead at ElevenLabs, a voice AI startup valued at $6.6 billion, intends to leverage his experience to assist founders in GTM strategies, operations, and product development, while focusing on an AI-informed operator experience. The fund's focus is on early-stage technical founders with an international expansion mindset from day one. It plans to allocate half of its investments within Europe, with the remainder in the US and other markets, reflecting an effort to build a competitive edge on the global stage. This approach will likely offer emerging European tech companies opportunities to grow. Reina highlights that the modern startup landscape requires rapid execution and an AI-focused sales and growth approach. Baobab Ventures aims to fill a gap in the European landscape by providing hands-on support and relevant frontline experience, especially crucial in the rapidly evolving AI sector.
Curated and translated by Europe Digital for our multilingual European audience.
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