Investors Niko Bonatsos (Verdict Capital), Marina Girgis (Precursor Ventures), and Amy Wu Martin (Menlo Ventures) are backing social startups in the AI era.
Kimberly White/Getty Images; Courtesy of Precursor Ventures; Courtesy of Menlo Ventures
Investors are hunting for social media startups that can spark new connections and nurture existing ones."Social media companies started based on connection," Shawn Carolan, a partner at Menlo Ventures, said of the previous wave of giants like Facebook and Instagram.Carolan said these companies "evolved into media companies" and abandoned that connection.That leaves an opening in the market.Venture capitalists at major firms like Menlo, Forerunner, and A16z have several investors dedicated to backing new and innovative internet startups. Other firms, like Verdict Capital and Premise, were founded by partners at firms like General Catalyst, Lightspeed Venture Partners, and NEA, who wanted to set out on their own with investment theses focused on backing consumer-facing startups building for the AI era.Niko Bonatsos, cofounder and managing director of Verdict Capital, said that AI is allowing startup founders to "reimagine entire categories" and build "so much faster."Business Insider recently highlighted 22 VC firms backing social startups in our third annual list. They've invested in startups in broader categories such as social media, AI assistants, and dating apps.
