Base10 Partners, a San Francisco-based venture capital firm co-founded by Adeyemi Ajao, has successfully closed an $850 million fund aimed at supporting early-stage founders focused on AI and automation. This new capital brings Base10’s assets under management to $2.6 billion. The firm targets investments in seed through Series B rounds, backing startups that are driving the automation of the real economy across various industries.

Adeyemi Ajao, who has a rich multicultural background and a strong entrepreneurial track record, is leveraging his experience to spot and nurture innovative founders. Before launching Base10, Ajao co-founded Tuenti, a Spanish social media company acquired by Telefonica for $100 million, and held roles including Vice President of Technology Product Strategy at Workday. Alongside Managing Partner TJ Nahigian, he is committed to funding companies that apply AI to create tangible business growth outside traditional tech sectors.

Base10’s portfolio boasts high-profile companies such as Nubank, Brex, Instacart, and Notion, highlighting its strong presence in the applied AI space. The firm’s approach has evolved from initially labeling their focus as AI to framing it as automation, reflecting broader acceptance of this technology’s impact. According to Ajao, several portfolio companies are generating significant revenue growth within their first year, demonstrating the accelerating momentum for AI-driven transformative solutions.

Beyond investment, Base10 is also prioritizing social impact through its Advancement Initiative, which allocates up to 50% of carried interest to support students from diverse backgrounds pursuing opportunities in tech. This commitment exemplifies Base10’s mission to empower the next generation of tech leaders while fueling innovation that modernizes and automates core segments of the real economy during this period of rapid economic transformation.