📶 generative AI seed funding falls of a cliff

Greylock hires a new partner, Monzo becomes profitable, Spotify increases prices, and Anthropic becomes more flexible

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Good morning 👋

And happy Tuesday.

12 months ago, every VC was making bold claims about generative AI. Fast forward to today, and the sentiment has changed pretty dramatically.

Pitchbook goes into more depth on gen AI funding along with more stories in this week’s piece.

Let’s get into it.

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Generative AI seed funding falls off a cliff 📉

  • Generative AI seed funding drops 76% as investors take wait-and-see approach (Pitchbook)

  • Greylock Hires Partner to Invest in Israeli Startups (The Information)

  • VC-backed challenger bank Monzo swings to profitability (Pitchbook)

  • Instagram confirms test of ‘unskippable’ ads (TechCrunch)

  • Spotify to increase premium pricing in the US to $11.99 per month (TechCrunch)

  • Anthropic’s Claude AI now autonomously interacts with external data and tools (Venturebeat)

  • Bessemer promotes Li to VP (Venture Capital Journal)

  • Private capital has raised more money than it has returned (Financial Times)

  • AMD Unveils Latest AI Chips, Accelerated Chip Update Timeline (WSJ)


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Fund Size

Fund Number










Energy Capital Partners



Clean Energy Ventures



Solamere Capital



P.S. 👉 If you’re looking to get a new VC job … 

We’ve found the best way to do that is to find the jobs before they become available. In our opinion, the best way to do that is to a) find who is raising funds and b) find who is the right person to contact at each of those funds.


Thanks for reading this far and giving us a little bit of your attention this week.

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Here are the results from our poll question in last week’s piece:

What is your investment appetite towards AI SPV deals?

🟨🟨🟨🟨🟨⬜️ Send them my way - I'm actively writing checks (13)

🟨🟨🟨🟨⬜️⬜️ I've seen a lot and will still invest in a few (10)

🟩🟩🟩🟩🟩🟩 It's a bubble - I'm not touching anything (15)

38 Votes


or to participate.