Data Tech Fund, led by general partner Ravi Grover, originally faced skepticism regarding its focus on data. However, with the rise of generative AI and other AI-related technologies, the importance of good data to fuel AI apps and services has become increasingly recognized. Founded in 2021, Data Tech Fund is headquartered in Seattle with general partners based around the world, all of whom are former Facebook engineering leaders. Grover, who was one of the first employees at Facebook’s Seattle office, has also worked with various Seattle startups and backed companies as an angel investor.
The firm raised $10 million for its first fund and has already invested in over 25 companies, with investors including leaders at Facebook parent Meta, Apple, Dropbox, Asana, and DocSend. Data Tech Fund focuses on backing companies across different industries that leverage proprietary data and AI. The partners at the firm have valuable insights gleaned from their time at Facebook in terms of growth data, advising companies on both underlying data and user growth strategies. They see AI as a tool within the broader field of data analytics and data science, with a specific focus on creating real value.
The general partners at Data Tech Fund bring a wealth of experience from their time at Facebook and other tech companies. Siva Kolappa, head of data engineering at Facebook, previously worked at Netflix as a data warehouse manager. Andreas Quandt, also from Facebook, later became vice president of product at Edmodo. Stephan Goupille, another former Facebook employee, has also worked at companies such as Uber, Handshake, and Thumbtack. With a diverse range of experiences, the partners at Data Tech Fund are well-equipped to provide valuable insights and advice to the companies they invest in.
While Data Tech Fund has not yet backed any Seattle-based startups, Grover is hopeful that this will change in the future. He expresses a fondness for the Seattle ecosystem and views it as a good home base, but also recognizes the importance of investing in companies across various locations. The firm looks for companies where data has a significant impact and where they believe they can add value. With a focus on real value creation and a deep understanding of the power of data, Data Tech Fund aims to support companies that leverage data and AI to drive innovation and growth in their respective industries.
In a world where data is increasingly recognized as a valuable asset, firms like Data Tech Fund play a crucial role in supporting companies that are at the forefront of leveraging data and AI technologies. With a strong network of investors and partners, as well as a wealth of experience from their time at Facebook and other tech companies, Data Tech Fund is well-positioned to drive innovation and growth in the companies they support. By focusing on creating real value through data and AI, Data Tech Fund is poised to make a significant impact in the tech ecosystem and beyond.
