Why we invested in LinqAlpha

Why we invested in LinqAlpha, the infrastructure layer for AI in investment research

At AVP, we believe alpha generation in public markets sits at the intersection of proprietary investment judgment and information. Over the last few years, led by significant advancements in LLMs, the first wave of AI tooling has been largely focused on automating analyst workflows. While it is indisputable that LLMs can make firms and individuals far more productive, the adoption of modern AI in core investment processes still lags. This is where LinqAlpha comes into play. LinqAlpha has built the agent infrastructure that enables AI to operate reliably, securely, and efficiently at enterprise scale within financial institutions, therefore enabling investors to leverage AI more deeply.

Why we are investing

1. LinqAlpha is building infrastructure, not another AI application

On the tech side, agent infrastructure is what takes powerful and ever-improving LLMs and bridges the gap in industries like finance, where there is no margin for error and restrictive regulatory guidelines. LinqAlpha has thoughtfully built a robust infrastructure layer tailored to the requirements of financial services, while providing the flexibility to integrate seamlessly with each investor’s specific investment processes. The agent infrastructure informs tool orchestration, structures inputs and outputs, and manages retries and failures. It provides additional memory and introduces determinism into AI workflows, ensuring consistent execution of business rules, approval processes, and guardrails despite the probabilistic nature of LLMs. It supports safety and compliance through data controls, audit logs, and policy enforcement. Finally, it improves cost efficiency and reduces latency through intelligent model routing and performance optimization.

2. Global financial markets are expansive and complex

Investors today must synthesize an immense and continuously expanding universe of fragmented information, including public filings, earnings transcripts, licensed market data, broker research, proprietary internal knowledge, alternative datasets, news, social media, and broader macroeconomic developments. At the same time, public markets have become increasingly global, interconnected, and fast-moving, with events in one geography or asset class often impacting others within seconds. This complexity has outpaced traditional, manual research, driving demand for AI-native infrastructure that can unify data sources, generate context-rich insights, and automate investment research at scale.

Latest estimates put global spending on financial market data at over $40 billion¹, largely directed to vendors such as Bloomberg, LSEG, S&P Global, and FactSet. Given this considerable level of investment, firms are increasingly focused on maximizing the value of their data. As a result, competitive advantage no longer comes from owning data alone, but from an institution’s ability to connect, structure, and apply it within its investment process. LinqAlpha’s infrastructure is purpose-built to process diverse, global data types and enable organizations to operationalize that data within their firm-specific investment strategies, workflows, and systems.

3. Early enterprise adoption validates both the product and the vision

LinqAlpha serves more than 70 financial institutions across the U.S., Europe, and Asia, including sell-side sales, trading, and research teams at leading global investment banks, as well as a growing lineup of buy-side asset managers and hedge funds. Our investment thesis was further reinforced through direct conversations with customers. Multiple users selected LinqAlpha after evaluating incumbent platforms, finance-specific AI copilots, and general-purpose AI models, consistently citing the platform’s superior finance-domain reasoning, seamless integration of trusted data sources, and ability to automate complex research workflows. Customers also emphasized LinqAlpha’s enterprise-grade security, auditability, and governance capabilities, providing confidence that the platform can be deployed across highly regulated institutional environments.

4. The team

From day one, we have been extremely impressed with the team at LinqAlpha, most notably Co-Founders Jacob Choi and Hojun Choi. Jacob’s deep expertise in AI research, combined with Hojun’s financial markets experience, creates a leadership team committed to bringing truly differentiated AI-driven capabilities to financial institutions’ most impactful investment processes.

What now?

AVP is excited to announce our co-lead investment in LinqAlpha’s $22 million Series A alongside Atinum Investment and GFT Ventures with support from a syndicate of global strategic investors and venture funds.

The new capital will support the expansion of LinqAlpha’s global team (headquartered in New York), deepen integrations across market and alternative data sources, and accelerate deployment of its technology across equities, macro, credit, and multi-asset investment strategies.