New AI tools are being released to help venture capitalists with everything from fundraising to investing. Some of these specialized tools are becoming quite good and will save managers many hours per week. This is just the beginning.
As with all things AI, managers need to be careful. First, the results from AI, which are impressive, may have errors or hallucinations, and results should always be double-checked. Second, the terms of use and confidentiality policies of some AI solutions may allow for the data to be used for training, so it is recommended that managers use their best judgment about what to share and what to obscure with the tools.
With that said, there are some really exciting things happening. Let’s get started below, where we have categorized the technologies for you.
General Tools
Decile Base: Managers commonly need answers to legal, tax, regulatory, or strategic matters, and top advisors are expensive and unavailable. Decile Base is a venture LLM that can answer most questions with limited hallucinations and provide strategic advice.
AI Research: Managers often need to do quick diligence or research to get a sense of a market opportunity or a deal. Perplexity combines the range of a search engine with the depth of an LLM. It gives strong answers and provides references to any supporting material.
AI Spreadsheets: Spreadsheets are the backbone of venture capital, and some of the more advanced queries and features can be hard to access. The following GPT Agent helps you create the perfect formula or design the ideal chart. While we wait for Chat GPT to get a good integration with Excel, try this.
Note Takers: Taking notes in meetings distracts you from the main conversation points, so you need to have good notes while also being attentive. AI has solved this problem with a variety of different solutions. Here is a summary of the most popular solutions.
Zoom AI Companion: Integrated within Zoom, this AI assistant enhances meeting experiences by providing real-time transcriptions, summarizations, and actionable item tracking directly within the familiar Zoom interface.
Fireflies.ai: Specializes in automating meeting note-taking by recording, transcribing, and searching across voice conversations, helping users focus more on the discussion and less on taking notes.
Otter.ai: Offers real-time transcription services, primarily focusing on generating searchable, shareable transcripts from meetings, interviews, and lectures, with collaborative features for team annotation.
Fellow.app: Distinct from pure AI transcription services, Fellow.app is more of a meeting management tool, aiding in creating structured agendas, action items, and follow-ups, fostering effective meeting habits and teamwork collaboration.
Thesis Development
Thesis Assistant: If you are launching a fund, refining a world-class Thesis often takes weeks or months. The following GPT Agent was designed to help brainstorm a Thesis and score the resulting Thesis work on a 1 to 5 with no 3’s. How does your fund Thesis stack up?
LP Archetypes: When launching a fund, you need to brainstorm about what types of limited partners you want to go after. Share your Thesis, and this GPT Agent will provide three hypothetical limited partner Archetypes and search queries to find people you know on LinkedIn.
Connector Assistant: Finding Connectors, people to introduce you to potential limited partners, is a major part of the fundraising process. Share your Thesis, and this GPT Agent will provide recommendations for possible types of Connectors and search queries to find people you know on LinkedIn.
Draft Emails: General partners must write hundreds of emails each month to limited partners, founders, vendors, and partners. This GPT Agent writes short and professional emails that you can use as a template for your CRM system or custom messages.
PACT Advisor: Getting limited partners to commit to a fund can be challenging and time-consuming. This GPT Agent acts like a fundraising coach, suggesting what to do next and how to handle complex situations.
Decile Hub: Back office software for venture capital firms often includes spreadsheets, accounting systems, vendor systems, and email. Decile Hub unifies all of the tools into one platform and gives the manager access to powerful AI to help manage the firm and the funds. It’s currently only available by Waiting List.
Virtual Matchmaking: Everyone has a dream where passionate investors are matched with equally passionate founders. SuperWarm is trying to turn that vision into reality using AI. It’s early days, but it’s also interesting to try out.
Startup Summary: There are a lot of things that you can learn about a startup and the founders through some time-consuming web searching. You give this GPT Agent the URL of a startup, and it quickly provides a nice summary and can answer questions about the business.
Pitch Deck Analyzer: When looking at a deck, have you ever wanted the data, not the whole presentation? Well, this GPT Agent and tool takes any pitch deck and provides a complete summary of the key concepts, providing some constructive criticism. You can even chat with the presentation.
There were a dozen more tools submitted for consideration. However, some were not fully functional, some provided poor results when testing, and some were more focused on entrepreneurs. We did find the “Mean VC” amusing… not.
If we missed a tool that you are using, please add it here:
The Decile Group develops industry-leading offerings to transform venture capital into an ethical force for good in the world, including VC Lab, Decile Hub, Decile Partners and Decile Capital.
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