The artificial intelligence (AI) startup ecosystem is a complex network of founders, investors, and companies working together to drive innovation and growth. To better understand the dynamics of this ecosystem, we conducted a quick and dirty network analysis using GAT (Pytorch Geometric) of 601 AI startups (deemed successful since 2013), focusing on the connections between founders and investors. Our findings provide valuable insights for founders seeking to raise funds at different stages of their startup journey.
Our analysis revealed the top 10 most influential investors in the AI startup ecosystem based on their number of connections:
1. Sequoia Capital: 43 connections
2. Insight Partners: 41 connections
3. Tiger Global Management: 40 connections
4. NVIDIA: 35 connections
5. Andreessen Horowitz: 34 connections
6. HongShan: 32 connections
7. Lightspeed Venture Partners: 29 connections
8. Google Ventures: 28 connections
9. BlackRock: 25 connections
10. Intel Capital: 24 connections
These investors play a significant role in shaping the AI startup landscape through their investments and partnerships for the last 10 years.
Series A Investors
1. Sequoia Capital
2. Andreessen Horowitz
3. Lightspeed Venture Partners
4. Google Ventures (tend to invest a little more in Series B in recent years)
5. Intel Capital
Series B and Later-Stage Investors
1. Insight Partners
2. Tiger Global Management
3. NVIDIA
4. HongShan (Focused on China mostly, going international now)
5. BlackRock (More later stages)
Advice for Founders in AI
Based on our analysis, we recommend the following approach for founders seeking to raise funds:
1. Series A: When raising a Series A round, focus on investors like Sequoia Capital, Andreessen Horowitz, and Lightspeed Venture Partners. These investors have a strong track record of backing early-stage startups and can provide valuable support beyond just capital.
2. Series B and Later: As you progress to Series B and later rounds, consider investors like Insight Partners, Tiger Global Management, and NVIDIA. These investors have the resources and expertise to help startups scale rapidly and navigate the challenges of later-stage growth.
3. Build Relationships: Regardless of the stage of your startup, it's important to build relationships with investors early on. Attend industry events, participate in startup accelerators, and leverage your network to get introductions to potential investors.
Disclaimer: Of course, past track record does not mean the future will be the same.