David Sacks' Craft Ventures Targets $1B for First Fund Since White House AI Czar Stint

The Information reports Craft Ventures is raising roughly $1 billion for a new fund, its first since founder David Sacks stepped down as the Trump administration's AI and crypto czar. The raise follows Craft's prior $1.32B haul across Craft Ventures IV and Growth II, and slots into a broader wave of AI-focused mega-funds from Sequoia, Founders Fund and General Catalyst.