EMERGING and Promethean Launch $300 Million AI Fund for Hospitality

August 15, 2026
EMERGING and Promethean have launched The Experience Fund, a $300 million fund backing AI, automation, and data infrastructure for hospitality and experiential entertainment.

EMERGING and Promethean have launched The Experience Fund, a $300 million fund for AI and automation in hospitality and experiential entertainment, announced in a press release. The fund has a $500 million hard cap and is co sponsored 50/50 by the two firms.

The fund is led by EMERGING Managing Partner Mathew Focht and Promethean Managing Partner Michael Burt. It will invest in artificial intelligence, IP holdings companies, and automation platforms built for hospitality and experiential entertainment.

XPR will target order and beverage automation, computer vision, autonomous service, labor and supply chain intelligence, data infrastructure, and gaming intellectual property. The fund formalizes a six year working relationship between the firms.

The firms said prospective portfolio companies can access hospitality operators through Buyers Edge Platform, which works with nearly one in three U.S. restaurants. EMERGING is headquartered in Chicago, while Promethean is a U.S. and U.K. based private equity investment firm.

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