Revolut’s Nik Storonsky closes a $500m fund for his algorithm-run venture firm QuantumLight
Nik Storonsky, the man behind Revolut, has closed a $500m second fund for QuantumLight, the algorithmic venture-capital firm he co-founded to let software, rather than partners, decide where the money goes.
The fund is double the size of QuantumLight’s $250m debut vehicle from last year, a swift escalation for an outfit still trying to prove that data can out-pick the humans.
Nik Storonsky, whose personal fortune has climbed with Revolut and who is reportedly in line for a vast share award, is the firm’s most conspicuous backer.
QuantumLight’s pitch is a direct challenge to the clubby traditions of venture capital. Instead of a bench of star partners trading on instinct and network, the firm runs a systematic, data-driven model that screens companies at scale and generates investment decisions quantitatively, something closer to a quant hedge fund than a Sand Hill Road partnership.
The approach is of a piece with...
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