Instacart co-founder launches $100 million hedge fund run by AI agents
Apoorva Mehta, co-founder of Instacart, has started Abundance, a new hedge fund with $100 million in seed funding. The fund plans to run entirely on AI agents. These systems will manage research, decision-making and trading without human intervention. Mehta's move signals growing investor backing for autonomous AI in finance.
Finance firms once relied on AI to support human traders, crunching data for signals or automating routine checks. Managers oversaw the process, tweaking prompts or outputs to fit business needs. Now a $100 million fund hands full control to agents, betting they can replicate human judgment end-to-end. This forces non-technical leaders to shift from endless prompting to designing agent workflows that hold business context, cutting cognitive drain and QA time.
Analysis
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