New York, NY – Kenneth Auchenberg, a Partner at New York-based venture capital firm AlleyCorp, has announced a search for a founding engineer to develop an "agentic layer for venture funds." The initiative aims to leverage artificial intelligence to automate and enhance various aspects of venture capital operations, signaling a growing trend of AI adoption within the investment sector.
Auchenberg, who focuses on AI, developer tools, and infrastructure investments at AlleyCorp, shared the opportunity via a tweet, stating, "I'm hiring a founding engineer to build the agentic layer for venture funds." He further elaborated, "Love tinkering with AI and want to build agents that could replace VCs? Based in NYC? 🛠️😉 DM me — or learn more at https://t.co/4pqoOfWIZO.
The concept of an "agentic layer" refers to autonomous AI systems capable of performing complex tasks, potentially streamlining deal sourcing, due diligence, and portfolio management. This move aligns with AlleyCorp's strategic focus on incubating and investing in transformative companies, particularly within the AI and deep tech sectors. AlleyCorp has recently raised a new $250 million fund, indicating a strong commitment to early-stage investments in these areas.
The venture capital industry is increasingly exploring AI solutions to gain a competitive edge. Reports indicate that AI companies received 42% of U.S. venture capital investment in 2024, up from 36% in 2023. AI agents are being developed to analyze vast amounts of data, identify market trends, and even assist in making investment decisions, thereby enhancing efficiency and reducing human bias.
While AI offers significant potential for automation and improved decision-making in venture capital, challenges remain regarding data standardization, integration with existing workflows, and ensuring the reliability and ethical implications of autonomous systems. The role of a founding engineer in this context would involve pioneering the development of robust and effective AI-driven tools tailored for the nuances of venture capital. This strategic hire underscores AlleyCorp's commitment to innovation and its belief in the transformative power of AI in reshaping the future of investment.