Base10, an early-stage venture firm that invests in automation and machine learning technology, announced it was launching an automation tool called Base11 on Thursday.
The technology will help automate repeatable portions of venture investment across different office functions, Base10 principal Rexhi Dollaku told Business Insider, and will operate as a fully open and independent system instead of the typical “black box” many firms use.
Dollaku said about 70% of Base10’s portfolio was sourced using the technology behind Base11, which uses publicly available data to help source and do diligence on potential investments.
Base10 cofounder and managing partner Adeyemi Ajao told Business Insider that venture firms that don’t develop machine learning technology to sift through large quantities of data about potential investments will be out of business in 20 years.
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Venture capital investors have pumped billions of dollars into automation and artificial intelligence technology. But they’ve been slow to recognize the potential of automation in their own industry.
Base10, a two-year old San Francisco VC firm, wants to change that.
On Thursday, the firm announced a new tool, built in-house, that harnesses the power of AI and applies it to the process of investing in startups. The …read more
Source:: Businessinsider – Strategy