The Meliora Company, the advisory, ventures and creative business, has announced a new specialist AI investment fund, which will invest in CTO-led startups.
The move is focused on turning AI into practical advantage that results in accelerated build cycles, tighter unit economics, and products customers adopt faster.
Meliora Ventures Fund One (MVF1) is a pre-seed focused investment fund raising US$3 million (AU$4.2 million) from wholesale investors for the purpose of investing in Vertical AI startups, Generative AI products and SaaS technology with an AI differentiator.
“We are investing where AI is the clear differentiator,” said Clive Dickens managing partner at Meliora. “We are focused on CTO-led companies, Vertical AI startups, Generative AI products, SaaS technology with an AI edge, and related technology that unlocks international scale.
“Our aim is simple: to compound outcomes for investors through disciplined entry, concentrated support and transparent governance. We pair capital with execution through our Meliora advisory arm, resulting in a portfolio designed for repeatable wins, co-investment opportunities and durable returns.” he continued.
Meliora Ventures has made a number of investments in start-ups including IV.AI, Relevance AI and Source, investing in CTO led startups providing not just capital but also strategy, commercial guidance and hands-on support to accelerate growth.
Meliora Ventures also confirmed it would be participating in the upcoming funding round for two Australian start ups Springboards.AI and StoryDesk.AI. “We are excited to be investing in these two rising stars in the Australian AI space,” said Dickens. “Both Springboards.AI and StoryDesk.AI epitomise what we are looking for: CTO-led companies with a clear focus on unlocking the exciting potential of AI within a particular vertical industry.
Jack Lonergan partner at Meliora said: “We are seeing a huge range of startups who are now unlocking the massive potential of AI and the large language models that underpin it, and then turning that into tangible new products that are not only transformative for businesses but significantly simplify and improve the daily lives of their consumers.”
Dickens also confirmed that Meliora Ventures Fund One had secured Shazam co-founder Chris Barton and former Singtel Optus and Seven West Media senior executive William Hedberg as strategic advisors to the new fund.
“I’m very excited that we’ve been able to attract two entrepreneurs of Chris and William’s calibre to partner with us and lend their expertise as advisors, as Meliora Ventures explores investment opportunities both internationally and here in Australia,” said Dickens.
