North America · Emerging coverage
San Francisco.
San Francisco is where the models are built: the frontier labs, the venture capital that funds them, and the founder population that leaves them to start companies. Every thesis in the firm's AI coverage prices what this city ships next.
The firm covers San Francisco outbound — connecting Bay Area founders to listing venues, global distribution, and the India corridor's enterprise demand — and inbound, for allocators seeking exposure the local venture rounds no longer leave room for.