How Newfund tooled its investment process with 6 specialised AI agents on Dust
An early-stage Venture Capital fund between Paris and Silicon Valley. We designed 6 specialised Dust agents covering every dimension of deal analysis, from tech to exit, to support investors and IC memo drafting. Then a second custom internal-tooling mission.
Analysing every deal from every angle, from first screening to the IC memo
An early-stage fund runs a continuous flow of deals, across two time zones. For each deal, investors must dig into several dimensions: technology, product, team, market, exit opportunities. That analysis feeds the IC memo, the document on which the investment decision is made. The work was done rigorously, but relied on each person's availability and memory.
Dimensions to dig into per deal
Tech, product, team, market, exit opportunities: as many angles to cover for each deal.
The central decision deliverable
Every investment committee relies on an IC memo built deal by deal.
Time zones
A team split between Paris and Palo Alto, with a continuous deal flow to analyse.
Newfund, Paris & Palo AltoNewfund
Newfund is an early-stage Venture Capital fund based between Paris and Silicon Valley. The fund invests early, backs its holdings over time, and operates several specialised vehicles.
Tandem supports the fund on its AI tooling, and works in parallel with several of its holdings on their own deployments, in an ecosystem logic.
Agents specialised by analysis dimension, not a generalist assistant
Rather than a single generalist copilot, we designed a series of specialised agents on Dust, each dedicated to a dimension of investment work, articulated in an agentic logic. Each agent digs into its angle and returns a structured analysis, usable directly in the IC memo.
Framing the investment process
Mapping the dimensions to cover for each deal (tech, product, team, market, exit) and how they feed the IC memo. Defining the scope of each agent.
Designing the 6 Dust agents
Six specialised agents, one per analysis dimension, connected to the right sources. Each agent produces a targeted, sourced analysis, built to support the investor's thinking.
End-to-end agentic logic
Orchestrating the agents to cover the investment process from initial analysis to IC memo prep, with the investor keeping control of the decision.
Second mission: custom internal tooling
As a follow-on, we built custom internal tooling for investment intelligence and portfolio monitoring.
Six agents in production, an investment process tooled end to end
Six specialised agents deployed on Dust, covering every dimension of deal analysis, from tech to exit opportunities, articulated in an agentic logic through to IC memo prep. As a follow-on, a second custom internal-tooling mission for investment intelligence and portfolio monitoring.
« AI should support the analysis work, not replace it. The decision stays ours: the tools are there to structure the thinking. »
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