Scion of Canada’s richest family looks to deepen AI bets

Thomvest Ventures, billionaire Peter Thomson’s namesake firm based in Toronto and San Francisco, led a $32.1M round in AI-powered data governance platform Relyance AI, according to a statement Thursday

The venture capital firm for a member of Canada’s richest family is looking for more artificial intelligence deals as global companies adopt the technology to enhance productivity and security.

Thomvest Ventures, billionaire Peter Thomson’s namesake firm based in Toronto and San Francisco, led a $32.1 million round in AI-powered data governance platform Relyance AI, according to a statement Thursday. The investment adds to Thomvest’s previous AI bets, including Cohere Inc. and Opaque Systems LLC. M12, Microsoft’s venture capital fund, and Cheyenne Ventures also participated in the round, along with existing investors Menlo Ventures and Unusual Ventures, according to the statement.