SignalFire Raises $1 Billion, Will Let AI Help Pick VC Bets

Venture capital firm SignalFirehas raised over $1 billion to bet on artificial intelligence startups — an unusually large fundraising haul in a difficult market for VCs and startups.

The latest financing lifts the San Francisco-based firm’s assets under management to $3 billion, it plans to announce on Monday. It will use that cash to back early-stage startups across several funds, with a particular focus on companies building AI applications.

“Our investors see what we see — applied AI is the defining opportunity of our time,” Chief Executive Officer Chris Farmer said in a statement. In an interview, Farmer described SignalFire as the “first ...