Goldman Sachs’ Alternatives Arm Buys Stake in Swiss AI Firm BLP

A unit of Goldman Sachs Asset Management invested $50 million in BLP Digital, a Swiss artificial intelligence company that helps companies automate financial processes such as invoicing and internal reporting.

Goldman Sachs Alternatives is buying the stake from existing shareholders, co-founder Tim Beck said in an interview. Goldman Sachs and BLP didn’t disclose a valuation for the company.

“Over roughly the past six months, we’ve seen a real shift — the market now understands what this technology is and is actively moving in that direction,” said Beck, a German engineer who founded the company with his brother Sven in 2019. ...