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Why this prominent New York investor is funding a startup that could eat into his own business

andy weissman USV

When Andy Weissman began to look at investing in a startup called CircleUp, he realized the underlying concept was something that could put him, or some of his competitors, out of business.

Weissman is a partner at iconic New York VC firm Union Square Ventures, and CircleUp’s vision is to bring machine learning to bear on the process of evaluating investments. Right now, CircleUp is focused on consumer goods startups, not tech, but Weissman says the premise of algorithms guiding investment decisions made him seriously think about the value venture capitalists bring to the table.

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Source:: BusinessInsider.Com