Two Google alumni raise $11.3M for AI startups targeting enterprise adoption

BAG Ventures, a new venture capital firm co-founded by former Google executives Bontia Stewart and Jackson Georges Jr., has announced the closure of its first fund at $11.3 million.

The fund will focus on early-stage artificial intelligence startups, with a specific emphasis on companies developing practical, enterprise-ready solutions. The firm believes the market for AI in business is maturing, moving beyond experimentation towards solutions that demonstrate clear return on investment.

Stewart previously served as a vice president at Google and was part of the leadership for Gradient Ventures, Google's AI-focused venture fund. Georges has experience from GE Healthcare and Alphabet's growth equity firm, CapitalG. Their combined operational and investment backgrounds are central to BAG Ventures' strategy.

BAG Ventures has already made initial investments in ten companies operating across various AI sectors, including infrastructure, compute, and security. Investment sizes typically range from $100,000 to $500,000, with plans to deploy the remaining capital over the next two years.

The firm highlights its access to a broad network of corporate customers and operators as a key differentiator. BAG Ventures aims to provide portfolio companies with not only capital but also direct introductions to potential enterprise clients and go-to-market support. Notable limited partners in the fund include Google, Nvidia, Amazon, and Snowflake.