Conviction, an AI-focused venture capital firm led by Sarah Guo, has announced the appointment of Mike Vernal as a general partner and the successful closure of its second fund, raising $230 million. Vernal, previously a partner at Sequoia, brings a wealth of experience from his time at Facebook and investments in high-profile startups such as Notion, Rippling, and Verkada. This move is part of a broader trend in the venture capital industry, where partners are increasingly leaving established firms to join or start new, specialized funds. Conviction's first fund was $101 million, and the new fund's size reflects growing investor interest in AI-focused investments.