Instacart Co-Founder Launches AI-Run Hedge Fund With $100M

Apoorva Mehta, co-founder of Instacart, is back with a wildly ambitious new venture. This time it's not groceries — it's Wall Street.

Mehta has launched Abundance, a hedge fund designed to be run entirely by AI agents. Not AI-assisted. Not AI-augmented. The goal is to have artificial intelligence handle the whole show.

The fund has secured $100M in seed funding to get started. It's among a small but growing number of funds attempting to hand the keys to machine intelligence rather than human portfolio managers.

Details beyond the core concept remain thin. But the premise is clear: build an army of AI agents capable of making investment decisions, managing risk, and running operations without human intervention at the helm.

Whether the machines can actually beat the market remains the billion-dollar question.