AV8 Ventures launches a €150 million backed by Alianz

AV8 Ventures, a firm focused on the “machine-enabled future,” has closed a €150 million (about $170 million) fund, according to TechCrunch. The fund’s sole investor is Allianz, a German insurance and asset management company.

The firm is led by George Ugras, who was previously the head of IBM Ventures, and Miles Kirby, the former managing director of Qualcomm Ventures in Europe.

AV8 Ventures is headquartered in London and Palo Alto, California.