India, Oct. 3 -- Rogo, a US-based financial-services AI startup, raised $30 Mn this month. What made this unique was that some of the world's largest banks, including Barclays, BNP Paribas, Citi, MUFG and Societe Generale, invested in this company, even though it has VC backing too.

Nine global banks are now on Rogo's cap table, representing nearly $20 Tn in combined assets.

Rogo isn't an isolated case. Large banks and their venture investment arms are increasingly taking big bets on AI companies.

Such investments have grown at a compounded annual rate of 21% since 2023, per an Evident AI analysis of the 50 biggest global banks, with Wells Fargo, Citi and Goldman Sachs the most active US bank investors.

Recent deals around the world a...