- Mozilla is unveiling an ambitious new venture capital fund to transform technology investment and the internet more broadly.
- Mozilla will invest an initial $35 million in internet companies that protect privacy, decentralize digital power and build more trustworthy AI.
- The fund will be led by Managing Partner Mohamed Nanabhay, who has spent his career working on innovation, digital media, technology, and as an investor.
Shortly after Mozilla unveiled Mozilla Ventures, which will be launched early next year, the organization stated that the venture capital fund will foster an ecosystem of startups that push the internet and the industry in a better direction. Mozilla Ventures is a first-of-its-kind impact venture that will fund startups in their early stages.
Privacy, inclusion, transparency, and human dignity
Mozilla Ventures will prioritize startups that are working on products or technologies that advance one or more of the values in the Mozilla Manifesto, such as privacy, inclusion, transparency, and human dignity. The initial $35 million investment will help companies that protect privacy, decentralize digital power, and build more trustworthy AI, and that also have big potential for commercial success.
Mozilla Ventures announced three initial investments. The full roll out of the fund will be announced early next year. Managing Partner Mohamed Nanabhay will lead the fund, who has spent his career working on innovation, digital media, and technology, and as an investor. Three initial investments are:
- Secure AI Labs (SAIL): SAIL uses advanced security and AI technology to keep patient data secure and advance medical collaboration. They aim to advance bioinformatics research and innovation with a platform that allows faster, more secure access to data, powering the future of better healthcare for all.
- Block Party: Block Party is a social media safety app designed for the realities of online harassment. It allows individuals who experience regular harassment to safely engage in public conversation on social media by setting their own content boundaries.
- heylogin: heylogin is a ‘swipe-to-login’ password management solution designed for businesses. Primarily aimed at SMEs, heylogin charges per user and allows for businesses to manage shared passwords as well as individual accounts.
Mozilla is working with a wide variety of founders, investors and experts to shape the final design of the fund. Lucid Capitalism, a team of venture and ESG experts, will be supporting Mohamed with fund design. Mohamed Nanabhay, Managing Partner of Mozilla Ventures said,
« Many of us can’t imagine life without the internet. But are we willing to imagine life with a better internet for us all? That’s why we’re starting Mozilla Ventures, to create an ecosystem of entrepreneurs from across the world who are building companies that create a better internet. We want to support founders who are working on the many challenges we face online, from misinformation to censorship, security to privacy, and the ability to harm instantaneously and at scale. These issues are too important to leave to any one institution to solve. »