Myriad Venture Partners Raises $100 Million to Boost AI, B2B Software, and Clean Tech Visionaries

The new fund is backed by anchor investor Xerox®, along with a new Advisory Council to pioneer collaboration across the venture ecosystem 

Myriad Venture Partners (“Myriad”), an early-stage venture firm focused on AI, clean technology and B2B software, announced the launch of the firm with $100 million of initial capital commitments from investors, including Xerox as an anchor investor. Myriad leverages its network of corporate titans and top-tier venture capitalists to build mutually-beneficial partnerships with cutting-edge businesses and founders. The firm is targeting investor commitments of $200 million for Fund I.

As global venture funding for early-stage startups decreases, the investment landscape is uniquely positioned for capital deployment towards future market leaders. Born out of Xerox Ventures with a track record of success, Myriad brings decades of investment, strategy and operational expertise, and a deep corporate and investor network supporting world-class entrepreneurs shaping the future of business solutions.

Recommended AI News: Riding on the Generative AI Hype, CDP Needs a New Definition in 2024

“Enhanced by our strategic network, our returns-driven investment model is poised to significantly impact the early-stage startup landscape. We are dedicated to helping founders pioneer the next generation of business solutions in areas including AI, B2B software and clean tech,” said Chris Fisher, Co-Founder of Myriad. “Through our extensive network of corporate partners, including 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.”

Founded by Chris Fisher, the former senior vice president and chief strategy officer of Xerox Corporation and former founder and managing partner of Xerox Ventures, together with former Xerox Ventures executives Tim Chiang and Dean Mai, Myriad intelligently employs its network of industry partners and portfolio companies to enhance the broader ecosystem. The firm guides relevant companies to its strategic and financial partners, investing in only the highest-quality businesses that meet its criteria for long-term and enduring value creation.

“As Xerox advances its Reinvention, our partnership with Myriad will help us source best-in-class technology solutions we can integrate into our commercial offerings and utilize to increase the productivity and efficiency of our organization,” said Xerox’s Chief Transformation and Administrative Officer, Louie Pastor. “Xerox is proud to back Chris and the Myriad team, and we look forward to leveraging the Xerox and Myriad partnership to generate returns and create value.”

Recommended AI News: Lexbe Unveils Revolutionary CoPilot: AI Integration for Intelligent eDiscovery Automation

Myriad’s Advisory Council, featuring corporate partners Xerox and HCLTech, serves as a proving ground, fostering the development of new business models and go-to-market strategies, while offering a significant advantage to Myriad, co-investors and portfolio companies seeking market validation.
“Myriad Ventures is our trusted partner, helping to support LinkSquares’ go-to-market strategy and execution,” said Vishal Sunak, CEO and co-founder of LinkSquares. “The team’s insights and robust partnership ecosystem, particularly with technology and business leaders like Xerox, contribute to the sustained success of our advanced AI technology in revolutionizing business processes. We look forward to strengthening our collaboration as we continue to enhance LinkSquares’ legal technology capabilities and offerings.”

“The Myriad team has been a key player in propelling Seurat’s growth and success for years,” said James DeMuth, CEO of Seurat Technologies. “Their unwavering support and expansive network has been instrumental in realizing our vision to revolutionize manufacturing powered by 100% green energy. Myriad’s extensive expertise and unmatched corporate partnership network are invaluable as we transition from prototype to full-scale production. Our shared commitment to decarbonizing manufacturing underpins this partnership, and we look forward to continuing to work with Myriad to turn this vision into a reality.”

Recommended AI News:  Lenovo to Showcase Next Generation of Smart Education Solutions at FETC

Myriad’s Fund I has already backed 14 AI, clean tech and B2B software companies, including Seurat Technologies, which garnered substantial follow-on funding from industry leaders like Nvidia and Honda. Other notable investments include LinkSquares, Anvilogic and Mojave Energy Systems. The fund’s guiding philosophy is driven by the team’s success at Xerox Ventures and deeply rooted in a steadfast commitment to achieving sustained financial returns.

[To share your insights with us, please write to sghosh@martechseries.com]