Boardroom Governance
Eddie Ramos: How AI Is Reshaping Investing and Boardrooms
Why It Matters
Understanding AI’s impact on finance and governance is crucial for investors, directors, and regulators as the technology drives unprecedented capital flows into private and venture markets. The episode offers timely insights into how boards can proactively manage AI risks and seize growth opportunities, ensuring responsible stewardship in an increasingly complex, AI‑centric economy.
Key Takeaways
- •AI transforms investment analysis, speeding due diligence.
- •Boards must oversee AI risk and close knowledge gaps.
- •Private markets surge, offering retail access via venture funds.
- •Multi‑model LLM strategy reduces hallucinations, improves accuracy.
- •ESG lens integrated with AI drives responsible capital allocation.
Pulse Analysis
Eddie Ramos, a 35‑year investment veteran, explains how the launch of ChatGPT in late 2022 sparked a rapid shift in capital allocation. He argues that artificial intelligence is no longer a novelty but a core tool reshaping how analysts evaluate companies, model risk, and incorporate ESG considerations. For boards, this acceleration means audit committees must now monitor algorithmic bias, data security, and model governance, closing a long‑standing knowledge gap between directors and technologists. The convergence of AI with sustainability amplifies the need for transparent, accountable decision‑making across public and private portfolios.
Ramos highlights the explosive growth of private markets, where capital has migrated from public equities to venture‑backed firms and private credit. He serves on the Calvert ESG mutual‑fund board and chairs the Global X Venture and Innovation Fund, which lets retail investors allocate money into pre‑IPO technology companies such as AI‑driven startups. By leveraging the 40‑act allowance for private holdings, these funds provide exposure to trillion‑dollar valuations while preserving liquidity. This democratization of private equity responds to the halving of public listings over two decades and fuels a projected $10 trillion AI‑related market opportunity.
Through his role as chief strategy officer at Leaveview Capital, Ramos built an AI‑first asset manager that uses a suite of seven large language models—ChatGPT, Microsoft Copilot, DeepSeek, Anthropic, XAI, among others—to ingest thousands of pages of deal documentation and generate concise investment memos. By cross‑checking outputs, the platform mitigates hallucinations and bias, delivering near‑human analysis at a fraction of the cost. This approach illustrates how boards can harness AI to enhance diligence while still requiring human oversight, aligning ESG objectives with faster, more accurate capital deployment in an increasingly data‑driven investment landscape.
Episode Description
(0:00) Intro
(1:24) About the podcast sponsor: The American College of Governance Counsel
(2:11) Start of interview *reference to the BRI from LCDA
(3:54) Eddie's origin story
(6:27) Eddie's investment focus
(7:44) The rise of AI and its impact on him
(9:06) Eddie’s roles in investment over the past 35 years (as GP and LP).
(8:32) His current endeavors: 1) Board member in mutual funds (Calvert Funds); 2) Independent director and Chair elect of Global X Venture Fund; 3) Chief Strategy Officer at Leadview Capital; and 4) Advisor at Bullpen.ai
(19:38) Dealing with AI hallucinations (e.g. Sullivan & Cromwell example)
(23:13) Convergence of AI, ESG, and Governance: "It's dramatic"
(25:00) "Stocks will be tokenized, markets will be much more liquid." "Wall street is trying to put liquid claims on illiquid investments" *WSJ Nasdaq's Plan for 24/7 Tokenized Stock Trading
(31:20) Geopolitical Challenges in Investing and for Boards. *Example of Meta-Manus breakup. "We live in a selectively connected world."
(34:00) Politicization and social issues in corporations. Board Adaptation to Rapid Changes
(38:19) AI and Audit Committee Responsibilities
(40:30) Bridging the AI Knowledge Gap "Boards are under prepared." *References to Stanford GSB cases: Netflix Approach to Governance and the Artificially Intelligent Boardroom
(46:10) Changing Dynamics in Board Practices. "It's a matter of time before companies like SAP or Microsoft move into corporate auditing, or Amazon starts offering mutual funds. The incumbents just don't see it coming."
(47:10) Power Laws and Growth in Private Markets.
(50:31) Books that have greatly influenced his life:
The Power Broker, by Robert Caro (1974)
The Tipping Point, by Malcolm Gladwell (2000)
U2 by U2, by Bono, The Edge, Adam Clayton, Larry Mullen Jr. with Neil McCormick (2006)
(52:56) His mentors.
(53:56) Quotes that he thinks of often or lives her life by: "Prioritize by impact" "Recognize the good in everyone"
(55:10) An unusual habit or an absurd thing that he loves: obsession with curating music playlists.
(55:06) The living person he most admires: Bono and Bad Bunny.
Eddie Ramos is the Chief Strategy Officer for Leadview Capital. He is also currently on the board of Morgan Stanley’s Calvert Mutual Funds and Global X Venture Fund, serving as the Chairman of the Audit Committee for both.
You can follow Evan on social media at:
X: @evanepstein
LinkedIn: https://www.linkedin.com/in/epsteinevan/
Substack: https://evanepstein.substack.com/
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Music/Soundtrack (found via Free Music Archive): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License
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