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Google alumni close $11.3 million fund to back early-stage AI startups
Oct 01, 2026
📍 Phliadelphia,PA, USA
### Google Alumni Close $11.3 Million Fund to Back Early-Stage AI Startups
Former Google Vice President Bonita Stewart and former CapitalG partner Jackson Georges Jr. have raised $11.3 million for BAG Ventures, a new investment firm focused on backing early-stage artificial intelligence startups.
The firm has already invested in 10 companies, including software company SXD, AI-powered travel agent BizTrip and agentic reasoning platform Nomadic.
BAG Ventures is targeting startups developing technologies across the expanding AI ecosystem, including AI infrastructure, computing, physical and edge AI, cybersecurity, governance and vertical software-as-a-service applications.
According to TechCrunch, the firm typically invests between $100,000 and $500,000 in individual startups. BAG Ventures plans to deploy the remaining capital from its new fund over the next two years.
Stewart brings nearly two decades of experience at Google to the venture firm. She spent 17 years at the company and served as a vice president for almost 10 years, while also sitting on the board of Gradient Ventures, Google's early-stage AI investment arm.
Beyond Google, Stewart is a limited partner in the Female Founders Fund and Operator Collective. She previously worked with Georges through BAG Collective, an angel investment syndicate they co-led.
Georges' background includes positions at GE Healthcare and Google, where he met Stewart. He later joined CapitalG, Alphabet's growth-stage investment fund, as a partner.
The two investors created BAG Ventures around the idea of connecting AI founders with experienced technology operators and potential enterprise customers.
Georges said the firm was established to address what he described as an emerging gap between startup founders and experienced operators who can help them navigate large organizations.
The firm's approach extends beyond providing capital. BAG Ventures aims to give portfolio companies access to senior industry executives, potential customers and practical guidance on go-to-market strategies.
Georges said the firm's limited partners include Google executives as well as leaders from companies such as Nvidia, Amazon and Snowflake. BAG Ventures has more than 150 limited partners representing a broad range of companies and industries.
The firm is positioning that network as a central part of its value to early-stage founders, particularly startups attempting to sell AI products to large enterprises.
BAG Ventures' investment strategy comes as businesses become increasingly focused on the economics and practical value of AI deployments. Georges said enterprise customers are becoming more selective about what they pay for as AI products move from experimentation toward production use.
He said companies are moving beyond open-ended chatbot applications and increasingly looking for AI systems that deliver specific, measurable outcomes.
According to Georges, some of the most valuable opportunities are emerging where AI can be integrated directly into existing enterprise workflows and carry out specific tasks rather than simply provide conversational assistance.
Potential applications include automating software code reviews, processing legal documents and handling other repetitive knowledge-work processes.
Georges also expects enterprise software purchasing models to change as AI agents become more capable of completing tasks independently.
Rather than paying primarily for software access on a per-user basis, he said companies could increasingly pay for completed jobs and measurable outcomes generated through multi-agent workflows.
For BAG Ventures, the shift creates opportunities across multiple layers of the AI technology stack, from infrastructure and computing to specialized applications designed to perform work inside enterprise systems.
The firm plans to continue deploying its newly raised capital over the next two years while using its network of technology executives and enterprise operators to support the startups it backs.
Former Google Vice President Bonita Stewart and former CapitalG partner Jackson Georges Jr. have raised $11.3 million for BAG Ventures, a new investment firm focused on backing early-stage artificial intelligence startups.
The firm has already invested in 10 companies, including software company SXD, AI-powered travel agent BizTrip and agentic reasoning platform Nomadic.
BAG Ventures is targeting startups developing technologies across the expanding AI ecosystem, including AI infrastructure, computing, physical and edge AI, cybersecurity, governance and vertical software-as-a-service applications.
According to TechCrunch, the firm typically invests between $100,000 and $500,000 in individual startups. BAG Ventures plans to deploy the remaining capital from its new fund over the next two years.
Stewart brings nearly two decades of experience at Google to the venture firm. She spent 17 years at the company and served as a vice president for almost 10 years, while also sitting on the board of Gradient Ventures, Google's early-stage AI investment arm.
Beyond Google, Stewart is a limited partner in the Female Founders Fund and Operator Collective. She previously worked with Georges through BAG Collective, an angel investment syndicate they co-led.
Georges' background includes positions at GE Healthcare and Google, where he met Stewart. He later joined CapitalG, Alphabet's growth-stage investment fund, as a partner.
The two investors created BAG Ventures around the idea of connecting AI founders with experienced technology operators and potential enterprise customers.
Georges said the firm was established to address what he described as an emerging gap between startup founders and experienced operators who can help them navigate large organizations.
The firm's approach extends beyond providing capital. BAG Ventures aims to give portfolio companies access to senior industry executives, potential customers and practical guidance on go-to-market strategies.
Georges said the firm's limited partners include Google executives as well as leaders from companies such as Nvidia, Amazon and Snowflake. BAG Ventures has more than 150 limited partners representing a broad range of companies and industries.
The firm is positioning that network as a central part of its value to early-stage founders, particularly startups attempting to sell AI products to large enterprises.
BAG Ventures' investment strategy comes as businesses become increasingly focused on the economics and practical value of AI deployments. Georges said enterprise customers are becoming more selective about what they pay for as AI products move from experimentation toward production use.
He said companies are moving beyond open-ended chatbot applications and increasingly looking for AI systems that deliver specific, measurable outcomes.
According to Georges, some of the most valuable opportunities are emerging where AI can be integrated directly into existing enterprise workflows and carry out specific tasks rather than simply provide conversational assistance.
Potential applications include automating software code reviews, processing legal documents and handling other repetitive knowledge-work processes.
Georges also expects enterprise software purchasing models to change as AI agents become more capable of completing tasks independently.
Rather than paying primarily for software access on a per-user basis, he said companies could increasingly pay for completed jobs and measurable outcomes generated through multi-agent workflows.
For BAG Ventures, the shift creates opportunities across multiple layers of the AI technology stack, from infrastructure and computing to specialized applications designed to perform work inside enterprise systems.
The firm plans to continue deploying its newly raised capital over the next two years while using its network of technology executives and enterprise operators to support the startups it backs.
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