Foundation Capital, an early backman in Solana and AI Chip Maker Cerebras, has collected $ 600 million for his eleventh flagship fund.

The fund is 20% larger than its predecessor $ 500 million, which closed about three years ago.

Foundation Capital’s focus is on investment in the early stage, which “means to be there on Day Zero”, according to a message on Tuesday. As such, 80% of the fund’s investments are made before the company has generated any income at all.

E.g. Invested Foundation Capital only in 2016 when AI Chip Market was still beginning. Cerebras is now a $ 4.25 billion company and has plans for an initial public offer (IPO) on an unspecified date in the future.

“Our first AI investment was in 2009, over a decade before Chatgpt brought AI to Mainstream. We’ve been investing in blockchain since 2014, unmatched by Frigid Krypto winters,” the company said in Tuesday’s announcement.