Focus is on providing enterprises with AI-native applications to respond to changing the digital landscape.
With AI and ChatAI driving a new economy, venture platform 25madison announced it is partnering with Apollo, the publicly traded alternative investment manager, to create an enterprise software venture studio called 25m Evolve.
Focusing on incubating AI-native applications, 25m Evolve’s mission is to support companies facing today’s dynamic digital landscape—which is demanding they adapt. Their AI-based innovations will provide the necessary tools for companies, including those in Apollo Fund’s portfolio, to achieve competitive operational improvements across industries.
“We believe AI will serve as the cornerstone of future software development, and through 25m Evolve we are excited to incubate category-defining startups at the forefront of this shift,” said Vikram Mahidhar, Apollo’s Data and Digital Transformation Operating Partner. “This venture is a testament to Apollo and 25madison’s longstanding relationship and commitment to long-term value creation.”
By combining the studio’s operational expertise with capital support from the publicly trade Apollo, 25m Evolve incubations are more readily able to deploy and scale their validated AI-enabled vertical software solutions with enterprise partners.
Steven Price, CEO of 25madison, sums up the synergy between 25madison and Apollo, stating, “Over the past three years, together with Apollo Funds, we’ve built a formula for co-incubation that sets the stage for this new studio. 25madison’s innovative DNA combined with Apollo’s focus on building stronger businesses can help transform companies and equip them for the future.”
Price co-founded 25madison in 2018 with a handful of individual investors, creating the venture platform to incubate and invest in early-stage startups. In addition to 25m Evolve, 25madison established 25m Health in partnership with a leading health system and 25m Supply Chain that works with corporate partners.
Price previously was founder and Executive Chairman of Townsquare Media, Senior Managing Director
of Centerbridge Partners and Deputy Assistant Secretary at the U.S. Department of Defense.
