EMERGING and Promethean Launch $300 Million AI Fund for Hospitality

Aug 15, 2026
EMERGING and Promethean have launched The Experience Fund, a $300 million fund backing AI, automation, and data infrastructure for hospitality and experiential entertainment.

EMERGING and Promethean have launched The Experience Fund, a $300 million fund for AI and automation in hospitality and experiential entertainment, announced in a press release. The fund has a $500 million hard cap and is co sponsored 50/50 by the two firms.

The fund is led by EMERGING Managing Partner Mathew Focht and Promethean Managing Partner Michael Burt. It will invest in artificial intelligence, IP holdings companies, and automation platforms built for hospitality and experiential entertainment.

XPR will target order and beverage automation, computer vision, autonomous service, labor and supply chain intelligence, data infrastructure, and gaming intellectual property. The fund formalizes a six year working relationship between the firms.

The firms said prospective portfolio companies can access hospitality operators through Buyers Edge Platform, which works with nearly one in three U.S. restaurants. EMERGING is headquartered in Chicago, while Promethean is a U.S. and U.K. based private equity investment firm.

We hope you enjoyed this article

Consider subscribing to one of our newsletters like AI Funding Brief, Enterprise AI Brief or Daily AI Brief.

Also, consider following us on social media:

AI Funding News Enterprise AI AI Brief AI Brief (X)
Free newsletter

Enterprise AI Brief

Weekly report on AI business applications, enterprise software releases, automation tools, and industry implementations.

AI Token Webinar

Market report

2025 Generative AI in Professional Services Report

Thomson Reuters

This report by Thomson Reuters explores the integration and impact of generative AI technologies, such as ChatGPT and Microsoft Copilot, within the professional services sector. It highlights the growing adoption of GenAI tools across industries like legal, tax, accounting, and government, and discusses the challenges and opportunities these technologies present. The report also examines professionals' perceptions of GenAI and the need for strategic integration to maximize its value.

Read more

You may also like

Free, six days a week

Daily AI Brief: the AI news that matters, in your inbox.