Automation-focused VC house Base10 reaches $250m Fund II goal

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Automation-focused venture capital firm Base10 has raised just over $250m for what appears to be final close of its second investment vehicle.

Base10 Partners II has secured capital commitments from at least 73 limited partners, documents from the United States Securities and Exchange Commission have shown.

The VC firm has not registered to take in any more commitments for Fund II, the filing adds, although the firm is yet to officially announce a final close for the vehicle.

Base 10 is focused on early-stage investments in artificial intelligence and automation sectors.

The firm, which was co-founded by Adeyemi Ajao and TJ Nahigian in 2017, wrapped up its debut fundraise on $137m in September 2018.

Ajao was the co-founder and CEO of Spanish social media site Tuenti, which was acquired by Telefonica in 2010 for $100m.

He also previously launched Workday Ventures, the first venture fund focusing on Applied AI for Enterprise Software.

TJ Nahigian co-founded mobile job matching platform Jobr, which was bought by Monster in 2016.

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