Base10, a San Francisco-based venture capital firm co-founded by Adeyemi Ajao, has raised $850 million in new funding to invest in early-stage founders focused on AI and automation. The new capital is split between a seed and Series A fund and a separate Series B fund, with backing from endowments, pensions, sovereign wealth funds, and other institutional investors. With this raise, Base10 now has $2.6 billion in assets under management, up from its first fund of $137 million in 2018. The firm, which invests from seed through Series B, counts Nubank, Brex, Instacart, and Notion among its portfolio companies. A portion of the $850 million has already been deployed, including support for Base10's Advancement Initiative, which donates up to 50% of carried interest to help students from all backgrounds pursue tech opportunities.
Maplebear Inc.
Workday Inc
Nu Holdings Ltd