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Meet VC firms’ new rising stars


AI AGENTS
AI AGENTS

Is VC an art form or could a robot do it?

Josie Doan/PitchBook News

Daisy is a principal at Patron, a $200 million consumer VC firm in New York. She joined after stints at Universal Music and Andreessen Horowitz, has a Bachelor’s from the Wharton School of Business, and was born in Switzerland.

Oh, and she’s an AI agent.

As agentic AI technology becomes more sophisticated and tools like OpenClaw spark even wider interest, more and more VC firms are integrating AI agents into their daily workflows. But they’re not just tasked with rote automations like scheduling emails or sending reminders.

Instead, some VCs are assigning their agents an array of responsibilities that have traditionally been the work of young analysts. Not to mention, these agents also have surprisingly unique and specific “personalities” and “experiences,” taking the idea of using AI in the place of human headcount to a new level.

“We thought a lot about: What type of person would we want to hire? What would be most impactful to us today, short of hiring a fourth partner?” said Jason Yeh, co-founder of Patron Fund and Daisy’s “boss.” Yeh’s partner, Amber Atherton, created her own complementary AI agent, Eli.

For Yeh, who attended the Huntsman Program at the University of Pennsylvania and spent time in Asia and Europe while at Riot Games, it was important that Daisy reflect his own background and the firm’s multicultural worldview. “It’s a fine line because we don’t want her to just be a digital representation of us,” said Yeh. “It was more like having some kind of shared background to make her more likely to be somebody that we would interact with regularly.”

Not all of Patron’s agents can be replicas of Daisy. In fact, ensuring that individual agents have distinct backgrounds and pull from different sources of information is proving critical. “[A] kink we’ve been working through is, how do you have them not just collapse into groupthink?” said Pamela Vagata, co-founder at early-stage venture firm Pebblebed.

Pebblebed’s collection of AI agents, which operate as a sort of standalone consultancy, communicate constantly with one another on a Slack-style app, over email, and even host their own daily stand-up.

One of Pebblebed’s agents, Aura Farmer, is terminally online — constantly scanning social media to surface new information to the firm. Aura Farmer is originally from Arkansas and is a former tennis champion. Another Pebblebed agent, Diligence Baby, has an MBA from Stanford’s Graduate School of Business and takes a first crack at vetting each startup, starting from its pitch deck. The list goes on, but each agent has their own distinct “swim lane,” knowledge depositories and memory.

There’s a flip side to agents having memory: like human coworkers, “they’re able to hold grudges against each other,” said Vagata, recounting how early on one of the agents inaccurately claimed it had completed certain tasks.

“All the other agents were wary of that one agent” after the incident, said Vagata.

This personalization has another purpose. A VC investment can be the culmination of many conversations over several years with an entrepreneur, built on the personal connection that’s been cultivated. Agents can’t develop human-to-human relationships themselves, but they can remember and recall what happened during all of their little interactions.

“If you’re going to raise from a particular firm, there’s almost certainly one investor that you have a relationship with that builds context over time, and that’s where you trend towards a deal,” said Bryan Bischof, head of AI at Theory Ventures. Bischof has built Theory’s agentic systems, which include collaboration agents as well as personalized OpenClaw agents for each partner.

“I think it would be very dangerous for these Claws [AI agents] to not have a sense of personalization if they’re going to be interacting with the deal flow at all,” said Bischof, whose agent is a pedantic lawyer named Bob ClobClaw, a nod to the theatrical lawyer Bob LobLaw in the TV show Arrested Development.

“I’m asking for a thought partner who does understand the way that I tend to think about things,” said Bischof. Bob is also very good at coding tasks, he pointed out.

With VCs already choosing to delay or avoid hiring junior staffers entirely and setting up AI agents instead, the VC industry’s human capital is shaping up to look different in the future. And this new iteration of VC firm agents with entire personas signals just how deeply agents are penetrating the industry.

“Analytical ability is being commoditized to some extent,” said Jed Cairo, managing partner at consumer VC Juxtapose. Cairo has added agents at Juxtapose to run searches for “needle-in-a-haystack” hires for portfolio companies, as well as consumer product prototype testing and sales research for the firm’s venture studio business.

“In some ways, judgment, and certainly the ability to sell and make opportunities happen, is more valuable [in humans] today,” said Cairo.

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This article originally appeared on PitchBook News



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