Encomenda Says AI Shifts Venture Capital Focus to Hard-to-Replicate Advantages

• Encomenda’s venture capital analysis highlights AI’s erosion of startup competitive advantages as previously differentiated features rapidly become standard.
• Sustainable advantages increasingly depend on proprietary data, distribution or integration into critical workflows rather than AI adoption alone.
• Some investors are reconsidering consumer businesses and hardware, where customer relationships or physical barriers can be harder to replicate.
• The firm seeks exposure to AI-native companies alongside businesses with competitive advantages extending beyond technology.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Encomenda Smart Capital SGEIC SA published the original content used to generate this news brief on October 21, 2026, and is solely responsible for the information contained therein.