Theory Ventures has closed a $450 million Fund II, focusing on data, AI, and Web3 sectors.

TechFlow reports on November 23, according to BusinessWire, Theory Ventures has announced the closing of its second fund at $450 million. Since launching its first fund of $238 million in April 2023, this new fund will further support innovators. Centered on idea-driven investing, the firm focuses on data, AI, and Web3, with particular emphasis on three key themes: the data decade, new AI platforms, and decentralized infrastructure-as-database. It has invested in multiple companies and recently opened a new office in San Francisco.