Key facts
- Seligman Ventures has doubled its capital to $1 billion.
- The firm has invested over $300 million in 14 companies.
- Investments focus on AI hardware, connectivity, and cybersecurity.
- Venture investment in U.S. and Canadian startups hit a record $392 billion in the first half of 2026.
- About $10.7 billion of venture investment went into semiconductor startups in the first half of 2026.
- Seligman Ventures employs a barbell strategy, making early-stage and late-stage investments.
Seligman Ventures, the private investment arm of technology investor Seligman Investments, has doubled its deployable capital to $1 billion, less than a year after its February 2026 launch with $500 million. The firm has already invested over $300 million across 14 companies focused on AI hardware, connectivity, and cybersecurity. This expansion signals a renewed investor appetite for capital-intensive hardware ventures, a shift from the software-dominated Silicon Valley returns of the past two decades. Venture investment in U.S. and Canadian startups reached a record $392 billion in the first half of 2026, with semiconductor startups attracting approximately $10.7 billion, on track to surpass the previous year's total. Umesh Padval, managing partner at Seligman Ventures, stated that deal flow has been significantly higher than anticipated, prompting the capital increase to capitalize on opportunities in AI, cybersecurity, and data centers. The firm's investment strategy, described as a "barbell strategy," involves both early-stage and late-stage/pre-IPO investments in areas such as accelerators, networking, power and cooling, and cybersecurity. This move also reflects a broader trend of public-market managers seeking earlier access to technology companies as startups remain private for longer periods. Unlike many crossover funds, Seligman Ventures actively participates in its portfolio companies, holding board seats and observer roles. Paul Wick, chief investment officer of Seligman's technology business, highlighted lessons learned from a previous venture effort that was wound down after the dot-com collapse, emphasizing the importance of board representation and direct deal sourcing. The venture platform leverages the expertise of Seligman's public-markets operation, which manages the approximately $29 billion Columbia Seligman Technology and Information Fund and a $7.5 billion technology hedge fund business. This integrated approach allows the venture team to combine private market insights with public market data analysis to inform investment theses.