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Google DeepMind spinout raises $2.1bn to make AI-designed medicines
Google DeepMind spinout raises $2.1bn to make AI-designed medicines Alphabet's London-based Isomorphic Labs raised $2.1 billion in its second round of outside capital, with new support from sovereign wealth funds, as it seeks to make AI-designed drugs a reality, Bloomberg reports.
Tony Blair's daughter-in-law to run £500m government AI fund
Sir Tony Blair’s daughter-in-law has been chosen to run a £500m taxpayer-backed AI fund tasked with investing in “home-grown” technology.Labour’s Sovereign AI Fund confirmed that Suzanne Ashman, a senior technology investor, has been appointed as the fund’s managing partner to lead its investment committee.The Sovereign AI Fund said Ms Ashman was one of the “most respected venture investors in the UK” who had “spent a decade backing the founders who have come to define a generation of British technology”.Ms Ashman previously worked as a general partner at LocalGlobe, an early-stage venture capital firm led by Saul Klein, the LoveFilm founder. She led investments into companies spanning the satellite industry, cyber security and financial technology.She has been married to Euan Blair – the eldest son of Sir Tony, the former prime minister, and his wife, Cherie Blair – since 2013.It is understood Ms Ashman underwent a five stage recruitment process and that mitigations have been put in place to manage any potential conflict of interest. The Government is planning to publish a declaration of interest notice regarding her role.The fund – which is chaired by James Wise, a partner at Balderton Capital – was launched as part of Labour’s drive to attract AI investment and retain talented technology experts in Britain. It has been billed by ministers as a means to encourage entrepreneurs to “bring their ideas to life in the UK and grow them here to maximum success”.The vehicle has so far taken direct stakes in three start-ups including chip business Callosum and AI start-up Ineffable Intelligence, which last month was valued at $5bn (£3.7bn).On Tuesday, it emerged that the Sovereign AI Fund had backed Isomorphic Labs, a drug-development company led by Sir Demis Hassabis, the founder of DeepMind.The lab, which is headquartered in London, raised a total of $2.1bn from investors including Thrive Capital, Singapore’s Temasek and Abu Dhabi’s MGX.At LocalGlobe, Ms Ashman led investments in businesses including Motorway, the insurance start-up, and cyber-security company Tessian.Her husband is a prominent figure in the UK’s technology industry in his own right, leading the £1.4bn education business Multiverse.Multiverse has been working with the Government on a programme providing AI skills to workers for free and is an apprenticeships provider for the NHS.Sir Tony, Ms Ashman’s father-in-law, has also been a vocal advocate of sovereign AI.In January, the Tony Blair Instit...
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Isomorphic raises $2.1bn for AI drug hunt | pharmaphorum
Isomorphic Labs has added to the lustre attached to its AI-powered drug discovery engine by raising an eye-watering $1.2 billion in a Series B round.
