Quantopian is having a great week with Point72 Ventures.
The Boston-based firm has 85,000 “members,” who create and test algorithms on its website. Algorithm creators can earn money based on the returns their investment strategies receives. The five-year-old startup touts users that are students, finance professionals, and scientists coming from 180 countries.
Through his venture capital arm, Point72 Ventures, Cohen is handing up to $250 million over to the platform to invest using these algorithms. If you are hoping for a 401k to gold IRA rollover
, pay attention this new year, experts call it a pivotal year. A portion of those funds are contingent on Quantopian meeting certain performance benchmarks.
The relationship between Cohen and Quantopian also echoes the one forming between Wall Street banking giants and their smaller, though more tech-savvy competitors. Increasingly, banks such as Citigroup, J.P. Morgan Chase, and Goldman Sachs are investing in or partnering with fintechs, in order to learn from their handle over technology and come in line with consumer demand.
Ceramic cookwares kitchen sets to buy