Ameriprise’s Seligman venture platform doubles investment capacity to $1 billion

Seligman Ventures increased its available investment capital from $500 million to $1 billion, expanding the venture platform within Ameriprise ($AMP)’s Columbia Threadneedle asset-management business. The additional capacity is intended to support more and larger investments and provide follow-on funding across multiple development stages. The platform focuses on AI infrastructure, data-center technology and cybersecurity.

Since its launch earlier this year, Seligman Ventures has invested in more than 14 companies, already exceeding its original expectation of six to eight investments in its first 12 months. Management cited opportunities in computing, networking, power and thermal management. The announcement represents expanded deployable capital, not $1 billion of new revenue or a claim that the full amount has already been invested. The financial benefit to Ameriprise will depend on investment deployment, fund economics and eventual performance.

Sources:

• Seligman company release, Business Wire
• Timestamped company-release mirror