Fintech
Point72 Ventures Leaves Fintech Team – Forbes
According to two sources familiar with the situation, Point72 Ventures has fired five of its investors, three from the fintech sector and two from the digital assets team.
Two sources close to the story he told Forbes this move is part of a pivot towards investing in artificial intelligence and defense technology startups. Earlier this yearthe company took part in a seed funding round for AI-based risk management platform ValidMind.
Sources 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 always evaluate our portfolio performance and market opportunities and optimize our strategy and resources around what we believe is the greatest opportunity.”
Earlier this month, Point72 ventures out supported Brightwave, an AI-powered financial research assistant. This is compared to company moves from previous years, such as investments in Commercial register and Swiss B2B fintech Second generation.