Portfolio Managers

Instacart Co-Founder Launches Hedge Fund Backing AI Agents Over Portfolio Managers

amefika1 month ago02 mins

Apoorva Mehta, co-founder of Instacart, has created a hedge fund designed to manage much of its investments through artificial intelligence rather than traditional portfolio managers, Bloomberg reported. The company, Abundance, is based in Palo Alto, California. It started last year. Abundance has a small team of quantitative researchers, engineers, and AI specialists focused on building…

A new hedge fund launching next year hopes to be the ‘farm team’ for the trillion industry

A new hedge fund launching next year hopes to be the ‘farm team’ for the $5 trillion industry

amefika7 months ago04 mins

Riptide Advisors, a new multi-strategy hedge fund, plans to hire unproven talent as portfolio managers. Young PMs who succeed will get more capital and a path to starting their own company. Tyler Errickson, the company’s founder, said he envisions the fund as the minor leagues of the industry. Tyler Errickson doesn’t plan to compete with…