- The firm directs companies to strategic partners, investing in top-tier businesses meeting criteria for long-term value creation.
- Myriad’s Advisory Council functions as a testing ground for portfolio startups, nurturing the development of new business models and go-to-market strategies.
The surge of artificial intelligence in the past year has been thoroughly recorded, leading to a heightened curiosity about investing in burgeoning AI startups.
Addressing this demand, Myriad Venture Partners LLC has recently emerged as a fresh early-stage venture capital firm concentrating on artificial intelligence, clean technology, and enterprise business-to-business software. The company has secured an initial USD 100 million in capital commitments from investors. The fund kicks off with Xerox Holding Corp. as its primary investor and aims to secure additional investor commitments totaling USD 200 million.
Together with former Xerox Ventures Executives Tim Chiang and Dean Mai, Chris Fisher, a former Senior Vice President and Chief Strategy Officer of Xerox as well as the Founder and Managing Director of Xerox Ventures, founded Myriad Venture Partners. They plan to utilize a network of industry partners and portfolio companies to enrich the overall ecosystem. The company’s objective is to assist relevant enterprises in connecting with its strategic and financial partners, focusing on investing solely in top-tier businesses that meet its criteria for long-term and sustainable value creation.
Fisher said in a statement, “Through our extensive network of corporate partners, including Xerox and HCL Technologies, our Advisory Council and venture capital co-investor network, we create a mutually-beneficial cycle of value and access that yields real returns for our strategic and financial partners and portfolio companies alike.”
Myriad’s Advisory Council, which includes corporate partners Xerox and HCL Technologies Ltd., will act as a testing ground for portfolio startups to develop innovative business models and go-to-market strategies. The council is asserted to provide a substantial advantage to Myriad, co-investors, and portfolio companies in their quest for market validation.
Despite its recent formal launch, Myriad Fund I has already invested in 14 cleantech, B2B, and AI software companies, including Seurat Technologies Inc., back in October. Xerox was listed as an investor when the round was raised, not Myriad. The fund has made notable investments in Mojave Software Inc., Anvilogic Inc., and LinkSquares Inc.