Ashton Kutcher, Morgan Beller Team Up to Launch New Early-Stage Venture Capital Firm

Los Angeles-based actor-turned-investor Ashton Kutcher is leaving Sound Ventures, the venture capital firm he co-founded more than a decade ago, to launch a new early-stage investment firm with veteran technology executive and investor Morgan Beller, marking a significant shift in his venture investing strategy toward artificial intelligence infrastructure, energy and deep technology.

The new venture firm, which has not yet been publicly named, will focus on investing in companies positioned for what Kutcher describes as a “post-AGI” world, targeting technologies expected to underpin the next generation of artificial intelligence development.

Kutcher’s departure ends an 11-year chapter at Los Angeles-based Sound Ventures, the investment firm he established in 2015 alongside entertainment executive Guy Oseary as the successor to A-Grade Investments. Since its launch, Sound Ventures has evolved into one of the most recognizable celebrity-backed venture capital firms, managing nearly $2 billion in assets and backing high-profile startups across fintech, enterprise software and artificial intelligence.

Morgan Beller joins Kutcher as co-founder after recently stepping down as a general partner at venture capital firm NFX. Before joining NFX, Beller helped lead Meta Platforms’ ambitious Libra digital currency initiative, giving her extensive experience in financial technology, blockchain and emerging technology ecosystems.

According to people familiar with the matter, the new firm will prioritize early-stage investments in AI infrastructure, energy systems and deep technology companies, sectors that Kutcher believes will become increasingly critical as artificial intelligence advances toward more capable systems.

In a letter distributed to Sound Ventures’ limited partners, Kutcher said the timing was right to pursue “the next wave of innovation” centered on infrastructure, energy and deep technology, reflecting a broader evolution in venture capital investment priorities.

The move comes as venture investors increasingly shift attention away from consumer software toward foundational technologies required to support the rapid expansion of artificial intelligence. While the past several years have seen record investments in foundation model developers such as OpenAI and Anthropic, investors are now directing growing amounts of capital toward enabling infrastructure, including data centers, semiconductor technologies, advanced networking and energy solutions capable of supporting AI workloads.

Kutcher’s departure does not appear to reflect challenges at Sound Ventures. Instead, reports indicate the separation stems from differing long-term investment strategies rather than operational concerns. Sound Ventures has increasingly focused on backing more established companies with demonstrated commercial traction, while Kutcher intends to concentrate on earlier-stage opportunities requiring longer investment horizons and different capital structures.

Under the new arrangement, Guy Oseary and General Partner Effie Epstein will continue leading Sound Ventures. Both executives are expected to remain advisers to Kutcher’s new firm, while Kutcher will continue serving as an adviser to Sound Ventures, preserving close ties between the organizations despite their strategic separation.

Sound Ventures has built a strong reputation within Silicon Valley by combining traditional venture investing with extensive founder support and consumer brand expertise. The firm has invested in companies including Brex, Affirm, Gusto and GitLab while also emerging as an early institutional backer of several leading artificial intelligence companies.

According to information shared with limited partners, Sound Ventures has committed more than $800 million to AI investments, including positions in OpenAI, Anthropic and World Labs, the AI startup founded by renowned computer scientist Fei-Fei Li. The firm is also reportedly raising its fifth flagship venture fund, underscoring continued investor confidence in its strategy.

Kutcher has long been regarded as one of Hollywood’s most successful technology investors. Before launching Sound Ventures, he co-founded A-Grade Investments, which generated notable returns through early investments in companies such as Airbnb, Uber and Spotify. Over the years, Kutcher has built a reputation as an active technology investor whose venture portfolio has often outperformed expectations for celebrity-backed funds.

His partnership with Beller signals a renewed emphasis on frontier technologies as venture capital increasingly pivots toward infrastructure supporting artificial intelligence. Industry observers expect demand for AI computing capacity, advanced chips, energy infrastructure and data center development to remain strong as enterprises accelerate AI adoption across industries.

The launch of the new firm also reflects broader changes within venture capital. Investors have become more selective following several years of slower fundraising and reduced exit activity, concentrating capital on sectors viewed as having long-term structural growth potential. AI infrastructure, advanced computing and energy technologies have emerged as some of the industry’s highest-conviction investment themes.

For institutional investors, the creation of another specialized AI-focused venture platform adds to a growing list of funds seeking to capitalize on the technological transformation expected over the coming decade. As competition intensifies among venture firms to identify the next generation of AI leaders, experienced investors with established networks and sector expertise are expected to remain well positioned to attract entrepreneurs and limited partner capital.

While details regarding the size of the new fund and its fundraising plans have not yet been disclosed, Kutcher and Beller’s combined experience in venture investing and emerging technologies is likely to draw significant attention from founders and institutional investors alike as they prepare to launch the firm’s first investment vehicle.

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