Instacart co‑founder Apoorva Mehta announced the launch of Abundance, an AI‑driven hedge fund based in Palo Alto.
The fund employs thousands of AI bots for research, stock selection, bet sizing and trade execution, replacing traditional managers.
Abundance raised $100 million in seed equity, trades its own capital now and plans to accept external investors later.
The 10‑person team currently runs long and short equity bets and intends to expand into additional asset classes.