Insights

Notes from the
agentic frontier.

Thesis, market analysis, and tactical advice from inside the fund. Written for founders building the next era of autonomous software — and for the LPs backing them.

Featured·Thesis

Why Agentic AI Is the Next Platform Shift

Every decade produces one platform shift that resets the rules. Mobile did it in 2007. Cloud did it in 2010. Agentic AI is doing it now — and most VCs are still pricing it like SaaS.

April 28, 2026· 9 min read

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Strategy

The SMB Opportunity in Agentic AI

Every AI fund pitch deck has the same slide: "selling to the Fortune 500." We think they're all wrong. Here's why the real money in agentic AI is in the SMB stack — and why nobody's building for it.

April 14, 2026 10 min read

Founders

What We Look for in a Pre-Seed AI Founder

We've taken hundreds of pitches in the last twelve months. The pattern that separates the founders we back from the ones we pass on has almost nothing to do with technical depth.

March 31, 2026 8 min read

Markets

The Picks-and-Shovels Trap in AI Investing

"Sell picks and shovels during a gold rush." It's the most repeated piece of investing advice in AI right now. It's also why so many funds are about to lose money.

March 17, 2026 9 min read

Thesis

Beyond Co-Pilots: Autonomous Agents

The first wave of generative AI gave us co-pilots — assistants that suggest, draft, and recommend. The next wave doesn't ask permission. It just gets the work done.

March 3, 2026 8 min read

Thesis

Vertical vs. Horizontal AI Agents

Horizontal AI promises to do everything for everyone. Vertical AI commits to doing one thing for one industry. Only one of these is a venture-scale business.

May 5, 2026 9 min read

Strategy

AI Agent Pricing: Outcome, Usage, and Hybrid

Per-seat pricing was built for SaaS, where one seat equals one human. Agentic AI breaks that math. Here's how the best agentic founders are pricing — and what we look for in their unit economics.

April 21, 2026 10 min read

Founders

How to Raise Pre-Seed AI Funding in 2026

Pre-seed AI rounds in 2026 look nothing like 2021. Here's a practical playbook from a fund that writes the first check — what to build, what to charge, what to send, and how to close in two weeks.

May 11, 2026 11 min read

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Notes from theagentic frontier.