The fund, headquartered in Palo Alto and London, is backed solely by German insurance business Allianz. : AV8 Ventures has closed on €150 million (about $170 million) for its debut early-stage venture capital fund to invest in seed and Series A startups in the U.S. and Europe focused on the “machine-enabled future.” Headquartered in Palo Alto and London, the new effort is led by George Ugras (pictured above, right), the former head of IBM Ventures, and Miles Kirby (pictured above, left), previously a managing director at Qualcomm Ventures in Europe.