Two Google alumni, former Google Vice President Bonita Stewart and former CapitalG partner Jackson Georges Jr., have closed an $11.3 million fund to back early-stage AI startups. Their firm, BAG Ventures, has already invested in 10 companies, including software company SXD, AI travel agent BizTrip and agentic reasoning platform Nomadic.
BAG Ventures invests in startups working across areas including AI infrastructure, computing, physical and edge AI, security, governance and vertical SaaS. According to TechCrunch, check sizes range from $100,000 to $500,000. The team plans to invest the remainder of the fund over the next two years.
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TechCrunch reported that Stewart spent 17 years at Google, including nearly a decade as a vice president. During her time there, she also served on the board of Gradient Ventures, Google’s early-stage AI fund. She is also a limited partner in the Female Founders Fund and Operator Collective. Stewart co-led the angel syndicate BAG Collective with Georges.
Georges worked at GE Healthcare and Google, where he met Stewart. He later became a partner at CapitalG, Alphabet’s growth fund.
Georges said the duo launched BAG Ventures to “address the emerging AI divide between founders and operators.”
“Founders needed inside access to the organizations they wanted to sell into, and we knew so many high-level operators who wanted to support early founders but didn’t know how,” he said. As a result, “we don’t just give founders capital; we give them direct warm introductions to potential customers and hands-on [go-to-market] advice.”
He added that the firm’s limited partners include Google, as well as executives from Nvidia, Amazon and Snowflake, and that it has more than 150 limited partners from a wide range of companies.
“Lots of firms have an operator network,” Georges said. “We want to be one that’s genuinely useful.”
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Georges also noted that “Enterprises are dialing in heavily on the unit economics right now.” He said, “They aren’t just paying for open-ended chatbots anymore; they are paying for deterministic solutions. The real value is coming from solutions that integrate deeply into legacy workflows and actually execute the work.”
Examples include automating code reviews and parsing legal documents.
Georges said he is preparing for a world in which enterprises no longer buy SaaS tools on a per-user basis. “We’ll be buying completed jobs and outcomes driven by multi-agent workflows,” he said.