The challenge
Equity Venture Partners (EVP), a notable venture capital (VC) fund, was grappling with an inefficient and time-consuming investment assessment process. EVP employees were manually evaluating thousands of potential investments, a task that demanded significant time and resources.
The solution
Avec undertook the task of developing an AI tool to streamline the identification of prospective investment opportunities. Avec created an AI solution that harnessed data from over 18,000 company websites. This innovative system was designed to address critical questions about potential investments, such as “are they a B2B SaaS company?” and “how much have they raised?”
The result
The implementation of this AI tool resulted in a transformation of EVP’s fund’s investment strategy. By significantly narrowing their field of interest from thousands of companies to a more targeted list of 500 potential investments, the senior investors were able to focus their expertise on the most promising prospects, leading to an improved investment strategy.