AI will be involved in 75% of venture capital investment decisions by 2025, up from less than 5% today, according to a recent Gartner Inc. forecast.

For now, the use of AI in venture capital is still at the early stages. In one effort, Correlation Ventures, a San Francisco-based co-investment firm with about $365 million under management, uses a machine-learning tool to decide whether the firm should invest in a company

The algorithm identifies how factors such as team experience or board composition correlate with future investor returns.

The platform is based on a proprietary database that contains information such as startup financials, web traffic and team member employment history. It scores investment prospects on a scale of 1 to 340

“I think the gut is never going to go away, but I think it’ll be much more driven by data and analysis than before,” Mr. Das said. “And you’ll have data to show that people who say I’m voting with my gut, either they’re right or not.”