Magnetar Starts First-Ever Venture Fund, Targets Generative AI
- It’s the first step in building out a broader venture business
- Magnetar runs $17.5 billion and has backed CoreWeave, Cohere
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Magnetar Capital, the $17.5 billion money manager known for alternative credit and hedge fund investing, is pushing into newer territory: venture capital.
Magnetar has launched its first-ever dedicated fund for backing startups, with a focus on generative artificial intelligence technology. It’s the first step in a broader move to build out a venture business.