The recent announcement of $1.1 billion in funding for the London-based startup Ineffable Intelligence, founded by former DeepMind researcher David Silver, marks a significant milestone in the venture capital landscape, achieving a valuation of $5.1 billion. This funding round, recognized as the largest seed round ever for a European startup, attracted prominent investors such as Sequoia Capital, Lightspeed Venture Partners, Google, and Nvidia.
Among the notable participants is Flying Fish Partners, a Seattle firm with under $250 million in assets, which made an early investment in Ineffable Intelligence just four months ago. Despite its smaller size, the firm leveraged extensive networking and strategic relationships cultivated over years in the AI sector, particularly through their investment in the Seattle-based startup Phaidra, co-founded by former DeepMind engineers.
Frank Chang, Managing Director at Flying Fish, emphasized the importance of building connections within the AI community, noting that their presence in London was solidified through numerous interactions with AI professionals. These efforts enabled the firm to become a recognized name among elite AI talent and facilitate their entry into a highly competitive funding round.