Ashton Kutcher leaves Sound Ventures to launch new VC firm
Ashton Kutcher is leaving Sound Ventures, the firm he co-founded with Guy Oseary 11 years ago, to launch a separate early-stage VC fund with Morgan Beller. Beller was recently a general partner at seed-focused NFX. The split reflects different views on startup stage and signals a pivot toward AI infrastructure, energy, and deep tech.
Key Takeaways
- Kutcher is exiting Sound Ventures to co-found a new fund with Morgan Beller, formerly a GP at NFX.
- The unnamed new firm will target early-stage AI infrastructure, energy, and deep tech startups.
- Sound leans toward more established companies; Kutcher wanted bets on very early-stage founders.
- Kutcher will remain a Sound adviser, while Guy Oseary and Effie Epstein will advise the new firm.
- AI infrastructure funding is surging, with neocloud provider Together AI recently raising $800M at an $8.3B valuation.
Why is Ashton Kutcher leaving Sound Ventures now?
The Wall Street Journal reported that Kutcher is stepping away from Sound Ventures after 11 years alongside co-founder Guy Oseary. TechCrunch had separately heard he was preparing to leave; the report confirms those plans.
According to the WSJ, the departure partly reflects different views on which startup stages to target. Sound has leaned toward backing more established companies, while Kutcher wanted to bet on very early-stage startups.
Kutcher's exit does not appear to signal trouble at Sound. The firm has backed Brex and Gusto and was an early investor in OpenAI, Anthropic, and Fei-Fei Li's World Labs.
Who is Morgan Beller, Kutcher's new VC partner?
Beller until recently served as a general partner at seed-focused VC outfit NFX. She previously co-led cryptocurrency project Libra at Meta and spent nearly three years as a partner at Andreessen Horowitz.
Her early-stage pedigree pairs with Kutcher's celebrity-backed network and long track record in venture. The name of their new firm has not been made public yet.
What will the new fund invest in?
Kutcher and Beller plan early-stage investments in AI infrastructure, energy, and deep tech — startups built around hard science and engineering breakthroughs rather than software alone.
The split is notable for where AI money may head next. Sound built its reputation on concentrated, high-conviction bets in category-leading AI labs. Kutcher's new fund appears focused on the layer underneath — the infrastructure and energy that power those companies.
That thesis lands as capital floods the AI stack. On the same day, neocloud provider Together AI raised $800 million at an $8.3 billion valuation, up from $3.3 billion in early 2025. For more on where smart money is moving, see our Future Tech & AI Wonders coverage.
What happens to Sound Ventures after Kutcher leaves?
Despite leaving, Kutcher will continue as an adviser to Sound Ventures. Meanwhile, Oseary and Sound general partner Effie Epstein will advise Kutcher and Beller's new firm — a cross-pollination that keeps both shops connected.
Stanford finance professor Ilya Strebulaev, who tracks top-performing VCs, noted on X that Kutcher and his fund consistently rank among top unicorn investors. The actor has known OpenAI's Sam Altman since Altman founded Loopt, years before ChatGPT.