Data Tech Fund, led by general partner Ravi Grover, was initially met with skepticism about its focus on data a few years ago. However, with the rise of generative AI and other AI-related technologies, the importance of data for fueling AI apps and services has become clear. The fund, launched in 2021 and headquartered in Seattle, has four general partners located around the world, all of whom are former Facebook engineering leaders. Grover, based in Seattle, was among the first employees at Facebook’s Seattle offices and has a background in engineering with various Seattle startups.
The other general partners at Data Tech Fund include Siva Kolappa, who was head of data engineering at Facebook and previously worked at Netflix; Andreas Quandt, who was a product analytics manager at Facebook and held roles at Edmodo; and Stephan Goupille, who was a growth analytics manager at Facebook and worked at Uber, Handshake, and Thumbtack. The firm raised $10 million for its first fund and has invested in more than 25 companies, with investors including leaders at companies like Meta, Apple, Dropbox, Asana, and DocSend. Data Tech Fund focuses on supporting companies across industries that leverage proprietary data and AI.
The firm looks for companies where data has a significant impact and where they believe they can add value. Having been at Facebook during its exponential growth, the partners at Data Tech Fund have valuable insights, particularly around growth data. They advise on both the underlying data and the user growth aspect. Data Tech Fund sees AI as a tool within data analytics and data science, with a focus on creating real value. While they haven’t yet backed any Seattle-based startups, Grover hopes to change that in the future, as he appreciates Seattle’s ecosystem and views it as a good home base for the fund’s investments.
Overall, Data Tech Fund focuses on the intersection of data and AI, recognizing the importance of high-quality data for AI applications and services. The fund’s general partners, all former Facebook engineering leaders, bring valuable industry expertise to their investments. With a focus on companies that leverage proprietary data and AI across industries, Data Tech Fund aims to add value and drive growth through their investments. While currently not invested in Seattle-based startups, Grover sees potential in the Seattle ecosystem and hopes to expand the fund’s investments there in the future.
