Google alumni raise $11.3M fund for enterprise AI startups

Former Google vice president Bontia Stewart and former CapitalG partner Jackson Georges Jr. have closed an $11.3 million fund to invest in early-stage artificial intelligence startups. The fund, BAG Ventures Fund I, backs companies whose products can demonstrate value to enterprise customers, according to TechCrunch.

The firm has already invested in 10 companies, including software company SXD, AI travel agent BizTrip and agentic reasoning platform Nomadic. Its areas of interest include AI infrastructure, computing, physical and edge AI, security, governance and vertical software as a service. Investments range from $100,000 to $500,000, and the firm hopes to invest the remaining fund over the next two years.

Stewart spent 17 years at Google, including nearly a decade as a vice president, and served on the board of Gradient Ventures. Georges later became a partner at Alphabet growth fund CapitalG. Their angel syndicate, BAG Collective, has more than 450 members. BAG Ventures has more than 150 limited partners, including Google and operators from Nvidia, Amazon and Snowflake, TechCrunch reports.

Georges says the firm aims to connect founders with potential customers and provide hands-on go-to-market guidance. He sees enterprise buyers shifting away from open-ended chatbots toward AI products that complete work and fit into existing workflows. The firm is looking for teams with a minimum viable product, an existing partner and a clear route to monetization, as well as products built deeply into enterprise processes. Georges also pointed to security and identity tools for AI agents as areas of interest.