Goldman Sachs is betting on something new: using artificial intelligence for finance.
What’s happening:
- Goldman Sachs Alternatives has invested $50M USD into Switzerland based artificial intelligence company BLP Digital
Why it matters:
- BLP Digital is one of the fastest growing private companies in Europe focused on leveraging artificial intelligence to automate finance workflows and is currently being used by more than 400 large companies globally
Going deeper:
- BLP Digital was incubated at the prestigious Swiss Federal Institute of Technology Zurich prior to being spun out as an independent company
- Goldman Sachs Alternatives has more than $600B USD In assets under management and invests across private equity, private credit, real estate and other asset classes
The intrigue:
- The $50M USD investment from Goldman Sachs Alternatives was a secondary transaction to buy shares from existing equity owners of BLP Digital
