Luxury king Bernard Arnault, the founder and CEO of LVMH, has been making waves in the tech world with his recent investments in artificial intelligence companies. With a net worth of $184 billion, Arnault has been on a shopping spree for AI-related ventures through his tech-focused venture firm and family office, Aglaé Ventures.
Aglaé Ventures has made significant strides in the AI space, with five investments in AI-related companies in 2024 alone. These investments, totaling over $300 million in funding rounds, highlight Arnault’s commitment to the future of technology and innovation. One of the most notable investments was in H, formerly known as Holistic AI, a French startup focusing on full artificial general intelligence. This $220 million round in May, valued H at $370 million and included other prominent investors such as venture firm Accel Partners LP and Wendy and Eric Schmidt.
In addition to AI investments, Aglaé Ventures has been actively supporting other tech companies such as Lamini, a Palo Alto-based startup specializing in enterprise AI applications, and Proxima, a New York-based AI-powered digital marketing company. The family office has also shown interest in human resource management platforms by investing in Borderless AI, a Toronto-based company. Furthermore, Aglaé Ventures has invested in Photoroom, an AI image editor, showcasing its diverse portfolio in the tech sector.
Despite being known for his luxury empire, Arnault has shown a keen interest in technology ventures. His family office’s investments in tech startups like Meero, Sonarverse, and Shimmer demonstrate a strategic shift towards cutting-edge innovation. With a total of 153 investments since 2017, Aglaé Ventures has diversified its portfolio across various sectors, including technology, consumer goods, business services, and financial services.
While luxury remains a core focus for the Arnault family through their ownership of LVMH, Aglaé Ventures has ventured into the art and tech worlds. Investing in digital art platforms like LaCollection and watch trading platforms like Chrono24, Arnault has shown a multifaceted approach to investing. His history of backing successful tech startups like Netflix, Spotify, and Airbnb further highlights his interest in the intersection of art, technology, and entrepreneurship.
As Arnault continues to expand his tech investments, his dedication to creativity, quality, and entrepreneurial spirit remains at the forefront. By embracing the startup mentality and investing in innovative AI companies, he is shaping the future of technology and pushing the boundaries of what is possible. With a rich history of successful investments and a forward-thinking approach to the tech sector, Bernard Arnault is positioned to make a lasting impact on the world of AI and innovation.