Two Google alumni, Bontia Stewart and Jackson Georges Jr., have closed an $11.3 million fund through their firm BAG Ventures. The firm has already invested in 10 companies, including SXD, BizTrip, and Nomadic, and plans to deploy the rest over the next two years with check sizes ranging from $100,000 to $500,000.
The fund's thesis is that the era of open-ended enterprise AI experimentation is ending. Georges says enterprises are focusing on unit economics and paying for deterministic solutions that integrate deeply into legacy workflows and actually execute work, such as automating code reviews or parsing legal documents. He predicts a shift from per-user SaaS seats to paying for completed jobs and outcomes driven by multi-agent workflows.
BAG Ventures looks for core technical teams that have worked together, have a minimum viable product and at least one partner, and a clear path to monetization within 24 hours. The firm wants startups that own the intent layer and capture proprietary data that can't be scraped, warning that thin wrappers around frontier model APIs will be wiped out. It also sees opportunity in regulated industries and in identity and access management for non-human AI agents.