Global Millennial Capital Announces 2nd Investment into Silicon Valley VC Ecosystem: PathBooks, Live Your Own Story
Global Millennial Capital launched Millennial AI, a proprietary AI backed algorithm which augments the emerging venture capital fund's screening capability to 1,000 deals daily.
SAN FRANCISCO, Nov. 18, 2020 /PRNewswire/ -- Global Millennial Capital, the emerging consumer tech specialist venture capital investor based in Dubai is pleased to announce its second investment as a part of Fund II, Millennial Consumer Innovation. The investment is the fund's second bet in a fast growing and transformational ed-tech space, which represents a core vertical of its sector exposure and portfolio strategy, among other key verticals including fin-tech and consumer social. It also represents the second diversity investment for the female founded and led firm after Blue Studios.io, Inc.
PathBooks is the first interactive storytelling platform founded by Jorge Louis Caballero in 2018. It provides users an immersive experience through interactive e-books and audio books which allow for active decision making and providing multiple endings to a single story. Pathbooks aims to be the leading interactive e-book provider with excellent early traction from its user base. The app has more than 1 million downloads globally with support from investors including Tim Draper, Balero Ventures, Google Launchpad, GSV Labs.
Millennial Consumer Innovation Fund is the first venture capital fund from the GCC region to introduce artificial intelligence in its investment cycle to enhance investment decision making. Millennial AI Algorithm, a patented data-driven model aims to reduce bias, enhance allocations to minorities, and maximize investment opportunities at the seed stage. Our model enables us to review between 200 to 1,000 seed deals per day which takes an average investment manager c. 6 months. Millennial Consumer Fund aims to strengthen the position that data beats access in the next generation of venture capital investor we are proud to be the first VC fund from the Middle East to patent an AI-backed algorithm in the venture capital space.
"Traditionally reliant on carefully cultivated personal networks, acquired expertise and gut-feel, the VC industry which is at the forefront of investing in innovation, is going through some innovation of its own. The Millennial AI algorithm is one of the handful globally designed to enhance deal screening capability, and reduce unconscious bias involved in the process through data inputs and feedback loops for top quartile returns and socially aware investing", said Kanchan Khemani, CFA, Head of Investments & Strategy at Global Millennial Capital.
The early stage investor, which is managed by Global Millennial Capital, aims to provide the Arab investors exclusive and unique investment opportunities to access the latest technologies and innovations from the global technology capital, Silicon Valley. Millennial Consumer Innovation aims to develop a risk adjusted portfolio of up to 50 investments by end of 2021.
About Global Millennial Capital
Global Millennial Capital is an emerging venture creation and management firm which invests globally across consumer-related services, solutions, and innovations. Established by Andreea Danila in 2016, the firm positioned itself as the first female-founded venture capital investor targeting tech-enabled, consumer centric and globally scalable opportunities, with offices in Dubai and Silicon Valley. The firm became popular after successfully executing on a differentiated blue ocean investment strategy looking for growth returns across key verticals such as innovation, disruption and internationalization using to be patented AI algorithms and proprietary strategic and performance consulting tools.
Contact:
Aibek: [email protected], Investor Relations Vice President, +971506750672
Syed Aabis: [email protected], Sr. Investment Analyst, +971569163007
SOURCE Global Millennial Capital
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