$10B Invested into AI in 3 months 🤯

Say AI AI AI AI AI 🎵 Everyone knows that AI is THE hot thing right now; so much so that in the last three months alone, nearly $10 billion dollars were invested into AI startups. AI is that cool kid that everyone tries to be like and wants to be around—but if we’re being honest, we’re still kind of *high pitch* trying to figure it out.

Although AI has opened tons of doors for transformative technology, some feel that not all AI startups are created equal. Chris Wake, Managing Partner at Atypical Ventures notes that “[a] startup has to actually be solving a real problem,” and isn’t paying much attention to startups building on top of existing language models.

Our take? Whether you’re working on language models or a solution for social isolation, we’re here to help you grow. There has been an incredible uptick in the # of AI startups AND in the # of founders spending on AI tools. That’s why we’ve added $2.5K OpenAI credits to help our customers build. Come for the IRL events, stay for the founder tools and perks. 😉 Let’s get to it.

Interested in attending an event? Feel free to email or DM the hosts below.

Upcoming Events:

• Brex Supper Club: NYC 8/16

  Designed for active early stage GPs in NYC. Apply here. Brex Hosts: Shai + Jason
  
  

• Brexfast: San Diego 8/17
  Designed for Pre-seed to Seed+ founders who have recently raised a round, or plan on raising in the next 3-6 months. In partnership with Interlock Capital. Apply here. Brex Host: Jimmy
  
  

• Brex Supper Club: San Francisco 8/17
  Designed for Techstars alumni living in the Bay Area. Event open to Techstars alumni across different cohorts. Brex Host: Gaby

  
  

• Brexfast: ATL 8/22
  Designed for Techstars current cohort in ATL. In partnership with Techstars (Cox Media). Brex Host: Jeanine

  
  

• Brex Supper Club: Los Angeles 8/23
  Designed for Seed+ founders who have raised $2M+ and/or VCs who have recently raised a round, or plan on raising in the next 3-6 months. Brex Host: Jonathan
  
  

• Brex Supper Club: NYC 8/23
  Designed for Pre-seed to Seed+ founders who have recently raised a round, or plan on raising in the next 3-6 months. In partnership with swsh. Apply here. Brex Host: Shai

  
  

• Brex Supper Club: NYC 8/24
  Designed for Emerging Managers and GPs $20M+ who want to meet and connect with Family Offices. Brex Host: Michael
  
  

• Brex Supper Club: Colorado 8/24
  Designed for Techstars alumni living in the Colorado Western Slope. Event open to Techstars alumni across different cohorts. Brex Host: Gaby
  
  

• Brex Flex Club: Los Angeles 8/24
  Hosted by our Brex Supper Club-in Residence (BSIR). Designed for Pre-seed to Seed founders who have recently raised or plan on raising in the next 3-6 months. In partnership with Red Beard Ventures. Apply here. BSIR Host: Elana

Dry Powder? Wait…are we going skiing? ⛷️

With over 20 years as Benchmark’s GP, Bill Gurley knows a thing or two about dry powder and fund economics. Contrary to popular belief, Bill tells us that VC dollars aren’t just sitting around “burning a hole in someone’s pocket;” but rather are sitting in LPs’ coffers with complicated tax structures attached.

The TL;DR is that given market conditions, “most investors will simply ‘pass’ vs. stepping into complexity[ies]”. Read the full thread to dive deeper.

Emerging Manager Spotlight 🤩 

Eunice Ajim, GP at Ajim Capital

Africa is an incredibly untapped market and Eunice is your go-to VC for all things building startups and investing in the continent. Not only does she create some of the most informative content on the interwebs, but she is laser focused on teaching emerging investors how to do the same. Read more about Ajim Capital here.

Connect with us

• Alexandra: [email protected] | Twitter

• Billy: [email protected]

• Conor: [email protected] | Twitter

• Gaby: [email protected] | Twitter

• Jason: [email protected] | Twitter

• Jeanine: [email protected] | Twitter 

• Jimmy: [email protected] | Twitter

• Jonathan: [email protected] | Twitter 

• Michael: [email protected] | Twitter

• Shai: [email protected] | Twitter

The financial stack that scales with you. 🤩 Trusted by 1 in 4 US startups, Brex allows you to manage your spend from MVP to IPO. Interested? Sign up here using the referral code NEWSLETTER and get 30,000 bonus points, $5K AWS credits, $2.5K OpenAI credits and up to $150K in SaaS discounts.

To building together and future exits 💪🏾

Startups Team @ Brex