Seligman Ventures doubles capital to $1 billion as AI boom revives hardware bets
AMP•Seligman Ventures has doubled its deployable capital to $1 billion less than a year after launch, from $500 million. It has invested more than $300 million across 14 companies focused on AI hardware, connectivity and cybersecurity.
1. Capital expands
Seligman Ventures, the private investment arm of Seligman Investments, launched in February 2026 with $500 million and has since invested more than $300 million across 14 investments. Managing partner Umesh Padval said deal flow was 10 or 15 times greater than he anticipated.
2. Focus on infrastructure
The firm is targeting AI infrastructure and hardware, including accelerators, networking, power and cooling, as well as cybersecurity. Its portfolio includes SambaNova and optical maker Lumilens, and it is pursuing a barbell strategy that pairs early-stage investments with late-stage and pre-IPO checks.
3. Public-market approach
Seligman Ventures holds six board seats and three board observer seats and works with public-market analysts to assess private companies. Padval expects the firm to make five to 10 new investments over the next 12 months.
