A new venture capital firm founded by a Korean American investor has launched a $40 million fund aimed at backing next-generation AI startups in their early stages.
On June 22, business outlet Pulse 2.0 reported that Seven Stars, a venture capital firm founded by Steven Lee, has officially launched its first pre-seed and seed fund. The fund focuses on identifying and accelerating early-stage companies developing AI applications across both consumer and enterprise technology sectors.
Steven Lee, a former partner at SV Angel—known for its early investments in companies like Airbnb and Twitter—is recognized as an early AI investor who has helped raise over $1.25 billion in funding to date. In a recent LinkedIn post, Lee shared that the firm’s name, Seven Stars, was inspired by a clothing store his immigrant parents once operated in Downtown Los Angeles called Seven Star Fashion.
According to the report, the new AI-focused fund was oversubscribed in just five weeks, signaling strong investor interest.
Seven Stars plans to collaborate with AI startups at the early stage, offering support in fundraising strategy and talent recruitment. To do this, the firm is bringing in experts from major AI players such as Google, Meta, Microsoft, and OpenAI, who will assist founders through coaching and professional networking.
Commenting on the firm’s mission, Lee stated, “AI has the potential to offer equal opportunities to people beyond knowledge workers already benefiting from technology. It can fundamentally change lives.” He added, “Every transformation begins with ambitious founders who aim to build sustainable companies that help individuals and organizations grow in a rapidly evolving world.”
The Seven Stars business model centers on co-investing with other venture capital firms and angel investors. The fund has also attracted long-term institutional partners, including university endowments, pension funds, and asset management firms.
BY KYEONGJUN KIM [kim.kyeongjun1@koreadaily.com]
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