Maven Ventures General Partner Sara Deshpande, who has spent a decade investing in consumer tech, joined TechCrunch senior reporter Mary Ann Azevedo on the Equity podcast to discuss the firm's new $60 million fund and its focus on artificial intelligence.
Maven Ventures, a seed-stage venture firm known for backing companies like Zoom, Cruise, Hello Heart, Perplexity, and x.AI, has grown to manage over $200 million in assets. The new fund aims to provide six to eight checks of up to $1.5 million each year, reflecting the firm's continued commitment to early-stage investments.
Deshpande shared insights on the evolving consumer tech landscape, noting the cyclical nature of the sector. “After a decade at Maven and 15 years working with startups, I’ve seen this ebb and flow … consumer does tend to go in and out of vogue,” she said. “But it’s such a great time to be a consumer investor … there is less competition and less noise from others.”
Addressing the impact of AI, Deshpande expressed optimism about its potential at the seed stage. She believes AI's ability to enhance consumer life will arrive faster than anticipated, despite acknowledging the recent peak in AI enthusiasm occurred about a year ago.
However, she also cautioned about the inherent challenges and controversies surrounding AI. For instance, Perplexity has faced accusations of plagiarism and web scraping. “It is a technology that is bound to bring controversy and opinions on every side,” Deshpande remarked. “My perspective is we are still so early that the rules are being written right now … We’re going to be on a roller coaster for a while.”
Deshpande's insights underscore Maven Ventures' strategic focus on AI-driven consumer tech, highlighting both the opportunities and the complexities of navigating this dynamic sector.
