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, a venture fund and co-creation studio, has closed on a $26.5 million fund.

The new capital marks The Hive鈥檚 third fund, this one focused on AI-powered applications in the enterprise. Specifically, the new money aims to help build early-stage companies 鈥渃reating value and driving disruption鈥� using AI in the enterprise and industry segments such as industrial, financial services, and healthcare, according to The Hive鈥檚 co-founder and managing director, .

Investors in the $26.5 million fund include , , , , , and several individuals.

Based in Palo Alto, The Hive raised $8 million in its first fund and invested in six companies. It raised $21 million in its second fund and invested in 16 companies. It plans to invest in over seven companies out of this third fund over the next three years, said Ravi. The firm has already has co-created two startups, , and Live Objects, out of its third fund.

The Hive鈥檚 Model

The Hive itself provides initial seed capital of $1.5 million to $2 million in addition to follow-on capital. It also helps syndicate future rounds of financing with venture capitalists.

Since 2012, The Hive has co-created and invested in 24 companies, six of which have been acquired: , which was acquired by by ; by ; by ; by , and by .

In addition to funding, The Hive works with entrepreneurs to help early startups with company building, business design, go-to-market strategy and introduction to early customers and partners. It partners with companies such as GE, , Verizon, Software AG, and . It has a set of advisors that work with companies such as , , and Pinterest.

The Hive claims to be different from other VCs and incubators in that it uses a 鈥渉igh-touch鈥� engagement model. It offers startups access to 鈥渁 team of successful company-builders, serial entrepreneurs and venture capital investors who have created market-leading companies with several billion dollars in exits,鈥� according to Ravi.

鈥淭he main difference is that we鈥檙e very involved in the very early stage, often before a company has even started,鈥� Ravi told 小蓝视频色情网页版 News.

In a statement, Sumant Mandal, managing director of March Capital Partners and co-founder of The Hive, said the firm offers 鈥渁 new, unique approach to funding and building companies.鈥�

Why AI?

The new capital may come at an auspicious timing: AI is a rapidly growing and perhaps maturing technology segment.

Frederic Hanika, head of M&A and corporate ventures at Software AG, said in a statement that the impact of AI can鈥檛 be overstated. 鈥淏usinesses have a clear choice: Invest in AI and disrupt the competition or be disrupted by faster moving enterprises,鈥� he said. 鈥淭hrough our involvement with The Hive, Software AG will ensure that its customers will be among the disrupters.鈥�

Ravi agrees.

鈥淲e see AI driving significant transformation of the enterprise, where decision-making is largely going to be automated,鈥� he told 小蓝视频色情网页版 News. 鈥淗uman beings will be primarily focused on policy-making and exception handling.鈥�

Looking ahead, The Hive believes the impact of AI 鈥渋s going to be orders of magnitude bigger than the Internet.鈥�

鈥淲e think AI is going to change the world and our lives, and it鈥檚 going to do that in our lifetimes,鈥� Ravi added.