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Anyscale

Scalable compute for AI and Python

San Francisco, CA

Founded 2019

Asset type

Mid-stage company

Industry

AI & ML

Company size

101-500

Funds

Profiles

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Anyscale is the modern AI infrastructure trusted by leading AI companies like OpenAI, Uber, and Amazon. Anyscale is the company behind Ray, the most popular open source framework for scaling and productionizing AI workloads.

About Anyscale

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Ray GitHub

Anyscale GitHub

Why we invested

Market leading product suite trusted by the most innovative companies deploying AI products like OpenAI, Amazon, Uber, Ant, and Cohere
Product portfolio that enables key use cases for AI today including large language model (LLM) training and serving, computer vision, retrieval augmented generation (RAG), and open source model API endpoints
World class team with a history of product innovation and first hand experience with the problem facing AI builders
Strong open source adoption and engagement

Investment overview

Last funding date: Sep 6, 2022
Valuation at last funding: $1B
Total funding amount: $260M

Anyscale's distributed computing framework, Ray, powers the most advanced AI and ML teams in the world including OpenAI, Cohere, Uber, and Adobe. While you likely haven't heard of Anyscale, if you've used ChatGPT, taken an Uber, listened to Spotify, scrolled on TikTok, received a recommendation on Netflix, shopped on Instacart, ordered on Doordash, or used Linkedin you've experienced products powered by Anyscale's Ray framework.

The amount of compute required to build cutting edge AI systems has increased faster than the pace of general hardware improvements ("Moore's Law"). As a result of this widening gap required for AI systems and the progress of Moore's Law, distributing compute workloads across many chips emerged as a core challenge to building and operating AI systems. This is a challenge central for AI teams, and Anyscale emerged to address it. Anyscale allows companies to focus on their core product features rather than building and scaling distributed computing infrastructure. Anyscale is trusted to power many of the consumer AI-powered products that hundreds of millions of us interact with daily.

Anyscale has also leveraged their deep expertise in AI and distributed systems to expand into serving open source models in a highly performant and cost efficient way. Customers can integrate the best open source LLM's into their product via Anyscale Endpoints in a matter of minutes.

Associated fund

Innovation Fund

Open Venture

Our Innovation fund is designed to deliver long-term growth from a diversified portfolio of technology companies. The fund is focused on investing in potentially high-growth private technology businesses. The Innovation fund takes a “multi-stage” approach, investing across the lifecycle of a private company – from early to late stage and continuing to hold after any potential IPOs. The fund invests across thematic sectors including artificial intelligence (AI) and machine learning (ML), data infrastructure, vertical and horizontal software, and other categories with attractive long-term growth potential.

ObjectiveAppreciation

Net asset value$361M

Inception dateJul 2022

An investment in the Fund is subject to, among others, the following risks:

Shares are not listed on any securities exchange and it is not anticipated that a secondary market for Shares will develop. Shares are subject to substantial restrictions on transferability and resale and may not be transferred or resold except as permitted under the Fund’s Limited Liability Company Agreement (the “LLC Agreement”). Although the Fund may offer to repurchase Shares from time to time, Shares will not be redeemable at a Shareholder’s option nor will they be exchangeable for Shares or shares of any other fund. As a result, an investor may not be able to sell or otherwise liquidate his or her Shares. Shares are appropriate only for those investors who can tolerate a high degree of risk and do not require a liquid investment and for whom an investment in the Fund does not constitute a complete investment program.
If a Shareholder is able to sell its Shares outside the repurchase process, the Shareholder likely will receive less than the then-current NAV per Share.
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Past performance does not guarantee future results. Current and future holdings are subject to risk. Returns of one company are not indicative of an investment in the fund. To obtain fund performance click here. The fund's most recent schedule of investments is available here.

Investors should consider the Fund’s investment objectives, risks, charges, and expenses before investing. This information is included in the Fund Prospectus and can be accessed by calling (202) 804-0023. Read the prospectus carefully before investing.

Fundrise Innovation Fund is the marketing name for Fundrise Growth Tech Fund, LLC. The Innovation Fund is publicly registered under the Investment Company Act of 1940 as a non-diversified, closed-end management investment company that is operated as a “tender offer” fund.

The Fund’s portfolio will be concentrated in securities issued by technology companies and other investments that provide economic exposure to technology companies and as such, it may be subject to more risks than if it were broadly diversified across additional sectors and industries of the economy. Certain technology companies may face special risks that their products or services may not prove to be commercially successful. Technology companies are also strongly affected by worldwide scientific or technological developments, and as a result, their products may rapidly become obsolete. The Fund’s investments in companies involved in, or exposed to, artificial intelligence-related businesses may be negatively impacted because of, among other things, limited product lines, markets, financial resources and/or personnel; intense competition and potentially rapid product obsolescence these companies may face; loss or impairment of intellectual property rights; and the inability to successfully develop products or services even after spending significant amount of resources.

The Fund’s investment in private company securities, whether made directly or indirectly (e.g., through derivatives or private pooled investment vehicles) are generally illiquid. Because private company securities are thinly traded, such securities may display especially volatile or erratic price movements, sometimes in response to relatively small changes in investor supply or demand or other market conditions.

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