Instacart Co-Founder Launches AI-Driven Hedge Fund

Instacart co-founder launches hedge fund backing AI agents over portfolio managers

Apoorva Mehta, who co-founded Instacart, has set up a hedge fund designed to run much of its investing through AI rather than traditional portfolio managers, Bloomberg reported. The firm, Abundance, is based in Palo Alto, California. It was started last year. Abundance has a small team of quantitative researchers, engineers and AI specialists focused on building and maintaining its models. Mehta told Bloomberg that the fund deploys thousands of …

Instacart co-founder launches AI-driven hedge fund

A hedge fund founded by Instacart co-founder Apoorva Mehta is using artificial intelligence agents to run much of its investment process, in one of the more aggressive attempts yet to replace traditional portfolio management with AI systems, according to a report by Bloomberg. The firm, Abundance, is based in Palo Alto and was launched last year with a small team of quantitative researchers, engineers and AI specialists building and maintaining …