Abundance is an AI-driven hedge fund founded by Instacart co-founder Apoorva Mehta and headquartered in Palo Alto, California. The firm operates thousands of AI agents that search the internet for trade ideas, conduct fundamental research, select long and short equity positions, size bets, and execute trades - effectively replacing the traditional fundamental portfolio manager role.
Mehta launched Abundance after OpenAI's o3 model release convinced him that frontier reasoning models were capable of making consequential capital-allocation decisions. The 10-person team is composed of engineers, quantitative researchers, and AI specialists who build and maintain the agent stack rather than discretionary stock pickers.
The firm raised $100M in seed equity financing and initially trades its own capital. It focuses on US equities long/short and intends to expand into other asset classes over time, eventually accepting outside investor capital. Mehta has stated that returns have outperformed multiple benchmark indexes, though he has not disclosed which specific benchmarks.
Abundance's public launch was first reported by Bloomberg on April 24, 2026, with broad pickup across Hedgeweek, Yahoo Finance, and other outlets. As a hedge fund, Abundance is not a consumer product and is not open to retail investors. Outside capital is expected later under standard accredited-investor and qualified-purchaser rules.