Theory Ventures

50% of Meta's code is written by agents. But how do you actually scale from a handful of agents to hundreds? @jevering, CEO of @GuildAI and former VP Eng at Meta DevInfra, joined SF Office Hours to share what he learned building Dev Mate, the platform driving most of Meta's code. Watch for his take on governance, tool adoption, and specialization: youtube.com/watch?v=yq8MGc…

How much of logistics work is still held together by email, phone calls, and spreadsheets? We’re proud to lead the Series A for @Backopsai and support @seanmcccarthy and Henry Ou in building an agent platform to repair the fragmented workflows of supply chains. Read about the opportunity: theoryvc.com/blog-posts/an-…

Do you code in a Waymo? During his ride with @changhiskhan (CEO of @lancedb), our Head of AI @BEBischof questioned how multimodal workflows need to adopt for the AI era, plus why most agentic problems come down to search. Watch the full interview here: youtube.com/watch?v=1SOmR2…

Seed valuations hit $24M in Q4. Series A is up 37% YoY to $78.7M. What's behind these all-time highs? Partner Andy Triedman unpacks why increasing round sizes and a shot at trillion-dollar outcomes mean valuations have no choice but to rise. The top 10% of startups are now raising ~50% of all capital. Read: carta.com/data/record-se…

Would you show up to an event in the snowiest weather since 1950? Over 100 students did. Huge thanks to the @waterloovg for the collaboration on our panels on breaking into startups, and even greater thanks to the students who brought the energy. Full recap: theoryvc.com/blog-posts/rec…

Are you ready for real users? Next Tuesday, at PyAI, we'll dig into what it takes to ship AI for real. 📍 San Francisco (Shack15, Ferry Building) 🗓️ March 10, 2026 Don't miss it: pyai.events

How much of software engineering is still engineering? Partner Andy Triedman breaks down the growing chasm between median and best-in-class engineering teams, as top-tier software engineers shift to building 'factories' of agents. Read what this looks like in practice: theoryvc.com/blog-posts/the…

uv, ruff, ty: tools focused on improving the experience of writing and running Python. Tools created by @astral_sh. Zanie Blue will be at the PyAI Conference in SF on March 10 talking about how to build tools for the age of AI. Does building developer tooling still matter? Join us to find out. Grab your ticket: pyai.events Hosted together with @Prefect. Sponsored by @Theoryvc.

We're excited to announce that @pedroslopez, software engineer @AirbyteHQ, will be speaking at Py AI Conference on March 10!

Are 2021 vintage venture funds in trouble? Per @cartainc data, only 25% of 2021 funds (and 15% of 2022) had generated any DPI through Q3’25. Partner Andy Triedman explains that these were years of irrational exuberance, but today's AI wave shows a more fundamental technology story. DPI can move fast once meaningful exits start landing in the next couple years. Read:carta.com/data/2021-vent…

Python developers, this is for you. Join us at PyAI to understand how to ship trustworthy AI to production. We're proud to support as a community partner. 📍 San Francisco (Shack15, Ferry Building) 🗓️ March 10, 2026 👥 300 builders Register: pyai.events

Can staying lean be a liability? Median Series A team size dropped from 57 → 44 employees between 2020 and 2024 as headcount metrics became replaced by revenue-per-employee. But at what point does being lean cost growth? In WSJ, Tomasz Tunguz explores this tradeoff. Read: wsj.com/articles/how-s…

AI-native apps need a monetization layer, and we're proud to lead @koahlabs Series A to make it happen.

Agents need more than evals; they need isolated worlds to practice in. A Vercel preview might be good for a human reviewer, but isn’t enough for agents who need to autonomously tinker with products using live data, deployed infrastructure, or customer-facing systems. Partner Andy Triedman breaks down what production-grade simulation environments require — and why this is one of the biggest infrastructure opportunities in the agentic era. Read: theoryvc.com/blog-posts/age…

Your coding agent called: it wants to know if you're using Python. We're hosting PyAI with @Pydantic and @PrefectIO to gather Python developers shipping AI to real, durable production. We'll cover everything that comes after the demo — from reliability, evals, and observability to iteration without regressions. 📍 SF (Shack15, Ferry Building) | 🗓️ March 10, 2026 | 👥 300 builders Join us: pyai.events

At Theory, we've studied what durable AI infrastructure looks like as agentic systems integrate into every workflow. AI breakthroughs don't see impact just from model improvements. They succeed because of strong developer ecosystems, composable tooling, & production-grade systems. On March 10, we're bringing 300 builders & friends to Shack15 for PyAI Conf – exploring what's working in production, where agent systems break, eval frameworks that survive real usage, & tooling stacks that scale beyond prototypes. Come join us : pyai.events

How much of building AI is building search? @BEBischof talks with @changhiskhan(CEO, @lancedb) to unpack why “almost every problem becomes a search problem”. Legacy stacks weren’t built for multimodal or agentic workloads, and that's becoming the lion-share of modern AI systems. We decide RAG isn't dead, how feature engineering still matters, and what “superhuman” means for a search agent. Watch the full convo: youtube.com/watch?v=1SOmR2…

We're excited to announce that Chang She will be speaking at Py AI Conference on March 10!

Why are data agents still so… mid? Our Head of AI @BEBischof jumped on Vanishing Gradients to unpack going from MCP skeptic to convert, why benchmarks may miss important marks, and how to translate vague desires to failure funnels & checkpoint evals. Listen: youtube.com/watch?v=seh9oV…

Py AI Conference is March 10 in San Francisco. Co-hosted by @pydantic. Presenting sponsor: @Theoryvc 🎟️ Join us: pyai.events