Gillett: GAIIFF easily met its target to raise a $20 million fund
Simon Gillett · $20m Fund for Amazon Sellers Using Private AI to Uncover Gold Mines · May 13, 2021 · at 14:05
Simon Gillett, founder of GAIIFF, discloses the fund size raised to acquire Amazon e-commerce merchants after being pressed on LP disclosures.
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“I'll tell you, we set out to raise twenty million. And we closed that easily.”
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“The IRR comes from track record from a previous business that I exited as a franchise in the in the Northern Virginia area, actually headquartered in Loudoun, which I know you know well.”
Gillett: GAIIFF uses proprietary tool Atium to source Amazon merchant acquisitions
“GAIF is short for the Global AI Internet Freedom Fund. So really we're a micro private equity fund, and we built an API in partnership with our cloud provider to allow Amazon sellers to do demand forecasting, to do pricing analytics. And it's called Atium actu…”
GAIIFF provides a free forecasting tool to Amazon merchants for lead gen
“And as you said, Nathan, it's entirely free. So, you know, we don't charge for the forecasting. It's simply also a business analytics tool that is that is a warm lead gen for us.”
Gillett: Atium analyzes over $100 million in Amazon merchant GMV annually
“Again, I can only give you a range, but it's in the nine figures.”