Promethean launches $300M Experience Fund for hospitality AI

What's the deal? EMERGINGDealroom has a profile for this one. Try Dealroom → and Promethean have launched The Experience Fund (XPR)Dealroom has a profile for this one. Try Dealroom →, a $300 million vehicle with a $500 million hard cap, co-sponsored 50/50 by the two firms. It will invest in AI, IP holdings and automation platforms built for hospitality and experiential entertainment.

The fund is led by EMERGING managing partner Mathew Focht and Promethean managing partner Michael Burt. It formalises a six-year working relationship, pairing EMERGING's operating engine with Promethean's private equity investing and capital structuring experience.

What it means: XPR targets the intelligence layer beneath consumer-facing brands — order and beverage automation, computer vision, autonomous service, and labour and supply-chain intelligence. Portfolio companies can gain a route to market through Buyers Edge Platform, which works with nearly one in three U.S. restaurants.

Read more: PR Newswire

Image credit: Promethean