Ashton Kutcher is walking away from Sound Ventures, the firm he's helmed for years, to launch a brand-new early-stage fund with Morgan Beller, formerly a general partner at NFX. The move signals a major bet on AI infrastructure and deep tech, as one of Silicon Valley's most visible celebrity investors recalibrates his strategy amid a shifting venture landscape. Kutcher's pivot comes as traditional VC firms face pressure to specialize and as AI continues to dominate startup funding.
Ashton Kutcher is making one of the boldest moves of his investing career. The actor-turned-venture capitalist is leaving Sound Ventures, the firm he's built over the past decade, to launch an entirely new fund with Morgan Beller, who until recently was a general partner at NFX. The new firm will zero in on early-stage startups, with a particular focus on AI infrastructure, deep tech, and hardware - sectors that have attracted record capital inflows over the past 18 months.
The partnership brings together two distinct investing philosophies. Kutcher made his name backing consumer hits like Uber, Airbnb, and Spotify through Sound Ventures, cultivating a reputation as the rare celebrity investor who could spot billion-dollar companies before the hype cycle. Beller, meanwhile, cut her teeth at NFX, a firm known for its network-effects thesis and deep technical diligence. She previously worked at Meta on early blockchain initiatives before jumping to the GP side of the table.
According to TechCrunch, the duo plans to invest in companies building the infrastructure layer for AI - think compute optimization, model training platforms, and hardware accelerators. It's a sharp departure from Kutcher's consumer roots, but one that mirrors broader industry trends. AI infrastructure startups raised over $18 billion in 2025 alone, and limited partners are hunting for funds with genuine technical expertise in the space.
The timing is telling. Sound Ventures has historically played the field with a generalist strategy, but that approach is losing favor as mega-funds like Andreessen Horowitz and Sequoia spin up dedicated vertical funds. Specialized firms can move faster, offer deeper domain expertise, and command better deal flow - advantages that matter more than ever in competitive sectors like AI. Kutcher's exit suggests he sees the writing on the wall.
Beller's track record at NFX gives the new firm instant credibility with technical founders. During her tenure, she led investments in developer tools and infrastructure companies, building relationships with the kind of engineers who are now launching AI-native startups. Her co-founding role also signals that this won't be a celebrity vanity project - institutional LPs want to see serious operational chops, and Beller brings that.
What's less clear is how Sound Ventures will fare without Kutcher's star power. The firm has leaned heavily on his Hollywood connections and personal brand to source deals and attract founders. His departure could create a vacuum, though Sound Ventures has built a capable team over the years. Representatives for Sound Ventures didn't immediately respond to requests for comment on the transition plan.
The new fund hasn't disclosed its target size or anchor LPs, but early-stage AI infrastructure funds have been raising in the $100 million to $300 million range. Kutcher's track record and Beller's institutional pedigree should make fundraising relatively straightforward, especially with AI continuing to dominate venture headlines. The pair will likely pitch a combination of technical diligence, network access, and a contrarian willingness to back deep tech that might take years to commercialize.
Kutcher's pivot also reflects a broader maturation of celebrity investing. A decade ago, famous faces could coast on brand recognition and FOMO-driven deal flow. Today, founders and LPs expect VCs - celebrity or not - to add real operational value, make thoughtful introductions, and understand the technical nuances of what they're funding. By partnering with an experienced operator like Beller and narrowing his focus, Kutcher is signaling he's serious about playing in the big leagues.
The move will inevitably draw comparisons to other celebrity investors who've built lasting firms. Nas with Queensbridge Venture Partners and Will Smith with Dreamers VC have both carved out niches, though neither has achieved Kutcher's scale. If the new fund succeeds, it could cement Kutcher's reputation as more than just a famous face - a genuine investor who adapted when the market demanded it.
Kutcher's departure from Sound Ventures marks more than just a firm shuffle - it's a bet that specialization beats generalism in today's venture market. By teaming with Beller and targeting AI infrastructure, he's positioning himself at the center of the industry's hottest sector while shedding the constraints of a broader portfolio strategy. Whether the new fund delivers returns that match the hype will depend on their ability to win competitive deals and add genuine value beyond capital. But one thing's certain: the days of celebrity investors skating by on name recognition alone are over, and Kutcher seems to know it.
