The recent flow of AI seed funding announcements, almost all at high valuations, sparked my curiosity: can investing in these deals deliver high fund returns for seed investors or are they tailored to a different strategy altogether? Many hyped companies look attractive on the surface. They tend to have a…

Historically, each drawdown in the NASDAQ has corresponded to a significant increase in venture return dispersion the following year.

Level recently invested in Enveda Biosciences’ Series B. We are excited about the company’s potential, and the use of advanced computational methods to find therapeutic solutions to human disease. Enveda searches for potential medicines by analyzing complex chemical samples derived from nature (plant samples). Without going into too much detail…

Does sector specialization impact the performance of emerging managers? At Level, we categorize investment firms based on their investment strategies (e.g., pacing, stage, follow-on rate, lead strategy, etc.) and analyze their estimated return multiples. Results show that early-stage specialist firms younger than ten years old outperform generalists.* Portfolios at the…

Level is a next-generation investment manager focused on the intersection of science and technology. We leverage artificial intelligence to build products for our family of venture capital managers and to build strategies that deliver low-fee, risk-diversified, top-quartile returns to our limited partners As we explore markets at the boundaries of…

Despite being an idealization of reality, the Gartner Hype Cycle is intuitive and digestible, practical and ubiquitous. At times, it is possible to unpack our intuition and shed light on a latent processes which describe some phenomena. “Whenever we look at life, we look at networks.”― Fritjof Capra As venture…

At Attached (coming soon) we have been working on developing a platform for autonomous photo and video sharing. …