Cohen’s Point72 Starts Venture Unit to Fund Financial Technology

Billionaire Steven Cohen’s investment firm is starting a venture capital unit to fund and help develop financial technology for asset managers. Cohen’s firm, Point72 Asset Management, set up the new investment vehicle in March under the name Point72 Ventures, according to documents filed with the Delaware Division of Corporations. It will provide early stage capital, along with advice and feedback, to startups in fields such as data mining, artificial intelligence, and machine learning. The move reflects the growing importance of technology to money managers such as Cohen, who started a data crunching unit last year and hired an executive from International Business Machines Corp. to run the operations of Point72, a family office that oversees about $11 billion for Cohen and members of his firm. Point72 hopes to both turn a profit…

Link to Full Article: Cohen’s Point72 Starts Venture Unit to Fund Financial Technology

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