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December 18, 2023
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2024 Vision: 9 VC Firms Predict AI’s Impact on E-Commerce.

  • Major VC firms were asked for their criteria for e-commerce investment and their 2023 predictions.
  • Firms are particularly interested in the intersection of e-commerce and AI.
  • Despite a difficult year for startups, VCs remain optimistic about e-commerce.

Venture capitalists from nine of the most active e-commerce investment firms share predictions and investment criteria for 2024. Despite a difficult year for startups due to uncertainty around consumer confidence amid inflation and mass layoffs, these firms remain optimistic about the future of investing in companies that build tech to make selling online easier.

Representatives from Insight Partners, PayPal Ventures, Speedinvest, Plug and Play, and others expressed interest in the intersection of e-commerce and artificial intelligence (AI). The call for more AI innovation across tech, especially in e-commerce, was a common trend.

“Our investment strategy remains unchanged — to develop and support fintech and commerce ecosystems globally to help bring transformative solutions to market faster,” says James Loftus, managing partner at PayPal Ventures.

Antler, a Singapore-based investment firm was aware of the current challenges the e-commerce sector faced as it is still coping with the aftermath of covid-19. Yet, the firm remains positive about opportunities for direct-to-consumer (DTC) brands and companies using AI to improve e-commerce performance.

However, firms emphasized the importance of a strong founding team in their investment decision. Ben Zises from the New York-based SuperAngel.Fund stated that the strength of the founding team, whether the startup solves a significant need in the market, and the quality of the product are his main investment criteria.

The focus shifted towards the tech, data handling, and production process. TJ Mahony of Vinyl Capital stated they were eager to invest in generative AI and companies working on data sovereignty.

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