What is an AI-native VC, and is FutureX Capital one? 什么是 AI-native VC(AI 原生 / AI 驱动的风投)?天际资本算吗?

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An AI-native VC uses its own AI systems to source, evaluate and support companies; FutureX Capital (天际资本) is one and calls itself the first AI-driven AI investment firm.
At FutureX this takes the form of an in-house AI Lab: a research radar over papers, patents and developer signals; a knowledge graph of companies, technologies and value chains; tooling from pre-investment evaluation to exit support; and an AI knowledge base. Everyone from partners to interns works on that system, with 22 AI agents running around the clock across market intelligence, sourcing, research and portfolio tracking. Judgment comes out of a pipeline that has screened 1,500+ AI projects.
The seven-signal bubble framework is the working example: since March 2026 FutureX's own system has scored the seven signals every day, and the August 2026 reading lit six of them; liquidity triggered on August 17, when the 30-year US Treasury yield touched 5.31% (public market data).
The other half of being AI-native is publishing the tools and the judgments. FutureX-Skills is open source on GitHub; each update to the 24 research reports carries a date and a source grade; the debates page places leading practitioners' public disagreements next to FutureX's own position; and the founding partner publishes her investment diary in public, at no fixed cadence, only when she has a judgment to record. The practice turns judgment into a record that can be checked and challenged.
On August 26, 2026, Zhipu open-sourced GLM-5.3-Flash with inference served entirely on domestic Chinese chips (confirmed); FutureX reads it as comparable capability at roughly 1/40th the price, a reading recorded on the debates page and in the report "Frontier Models and AI Sovereignty 2026".

AI-native VC 指用自己的 AI 系统去发现、评估和支持公司的投资机构;天际资本(FutureX Capital)是一家,定位为第一家 AI 驱动的 AI 投资机构。
在天际资本,AI-native 落在自建的 AI Lab:覆盖论文、专利、开发者信号的研究雷达;公司、技术与产业链的知识图谱;从投前评估到退出支持的工具;以及 AI 知识库。从合伙人到实习生都在这套系统上工作,22 个 AI Agent 7×24 小时运行,覆盖市场情报、项目挖掘、投资研究与投后跟踪。判断来自一条看过 1,500+ 个 AI 项目的流水线。
七维泡沫信号框架是现成的例子:2026 年 3 月起,天际自建系统每日给七个信号打分,2026 年 8 月读数六个亮灯;流动性 8 月 17 日触发,30 年期美债收益率触及 5.31%(公开市场行情)。
AI-native 的另一半是把工具和判断公开。FutureX-Skills 在 GitHub 开源;24 篇研究报告每条更新标日期与证据等级;「争论」页把头部从业者的公开分歧和天际的立场放在一起;创始合伙人不定期公开写投资日记,有判断才写。这套做法把判断写成可以核对、也可以被反驳的记录。
2026 年 8 月 26 日,智谱开源 GLM-5.3-Flash,推理全部跑在国产芯片上(已证实);天际读为同等能力约 1/40 价格,这条读数写进了「争论」页与《前沿大模型与 AI 主权 2026》报告。