TLDR:
- Bernard Arnault’s family office has quietly invested in five AI startups in 2024.
- Aglaé Ventures, owned by the Arnault family office, has invested $300 million across these companies.
LVMH’s Bernard Arnault has invested in AI startups via his family office
Few business areas go untouched by the influential Arnault family, with LVMH being their best-known business. Bernard Arnault has been quietly investing in AI amid a surge of interest in the novel tech through Aglaé Ventures, a tech-focused venture fund owned by the Arnault family office. They have invested in five AI startups this year, with funding rounds totaling $300 million.
The biggest funding round was in H, a French startup focusing on improving worker productivity. Other startups, such as Borderless AI, Photoroom, Lamini, and Proxima, also received funding from the Arnault-owned venture fund. Aglaé Ventures has been investing in tech companies for over two decades and was an early investor in companies like Netflix, Spotify, and Slack.
LVMH, the luxury conglomerate led by Bernard Arnault, has also been integrating AI into its business through partnerships with Google Cloud. They host annual AI summits and award tech companies that help transform the fashion industry. The Arnaults are keen on being part of the AI surge in potential and popularity.
