Fintech
Point72 Ventures abandons fintech team – Forbes
Point72 Ventures has laid off five of its investors, three from its fintech and two from its digital assets team, according to two people familiar with the matter.
Two sources close to the story he told Forbes This move is part of a path to invest in startups active in the field of artificial intelligence and defense technology. Earlier this yearThe company was part of a seed funding round for AI risk management platform ValidMind.
Sources have told Forbes that the company, founded by billionaire Steven Cohen, could lose partners Tripp Shriner and Sugam Sarin, although they could stay.
In a statement to Forbes, a Point72 spokesperson said: “We constantly evaluate our portfolio performance and market opportunities, and optimize our strategy and resources around what we believe to be the greatest opportunity set.”
Earlier this month, Point72 ventured supported Brightwavean AI-powered financial research assistant. This is compared to company moves from previous years, such as investments in Transaction register and Swiss B2B fintech Second generation.