Former Facebook engineers lead Seattle-based investment firm backing data-focused startups.
Some of the feedback we got was that it sounded too boring, Grover said.
But with the recent rush of generative AI and other AI-related technologies, the conversation around data — and the importance of good data to fuel AI apps and services — has changed.
Now the struggle is the opposite, said Grover. How do we set ourselves apart from all the other funds?
Data Tech Fund, headquartered in Seattle but with its four general partners based across the world, was launched in 2021. These partners are all former Facebook engineering leaders who worked at the social media giant more than a decade ago.
The firm successfully raised $10 million for its first fund and has invested in more than 25 companies. Notable investors include leaders from Meta, Apple, Dropbox, Asana, and DocSend.
Focusing on companies across various industries that leverage proprietary data and AI, Data Tech Fund aims to assess the significant impact of data on a company and identify opportunities to add value.
Drawing from their experience within Facebook during its exponential growth, the firm’s partners offer valuable insights, particularly concerning growth data.
We advise on the underlying data, and also the user growth piece, Grover mentioned.
Viewing AI as a vital tool within the realm of data analytics and data science, Data Tech Fund is committed to ensuring the creation of real value.
Although the firm hasn’t yet backed any Seattle-based startups, Grover expressed his interest in changing this landscape, emphasizing Seattle’s potential as a home base while maintaining a global investment approach.
I love the Seattle ecosystem. It’s a good home base, he said. But we’re investing everywhere.
