Steven A. Cohen's Point72 commits $250M to VC-backed Quantopian
July 28, 2016
Point72 Ventures, the "family office" launched by Steven A. Cohen (previously of S.A.C. Capital Advisors fame), has committed $250 million to a new fund managed by Quantopian, a startup that licenses crowd-sourced investment algorithms and pays the creators of successful algorithms based on performance. Quantopian's community has doubled YoY for the past three years, now boasting north of 80,000 members, including finance professionals, scientists, developers and students. The entire $250 million from Cohen will not be immediately available, but instead disbursed based upon certain benchmarks.
Packed within the quarter-of-a-billion-dollar commitment is a $2 million equity investment in Quantopian from Point72 Ventures, according to CNBC—the firm's second-ever venture deal following its launch in March. The investment brings Quantopian's total funding to about $25 million. Existing backers include Bessemer Venture Partners, Khosla Ventures and Spark Capital.
Below is a breakdown of Quantopian’s funding history, including valuations for previous rounds: