The new venture — dubbed QuantumLight Capital — will be worth around $200 million, with funds supplied by Storonsky and other investors, Forbes reported on Tuesday.
“We are built as a technology company by a team of tech unicorn founders, quant traders, AI scientists and engineers,” the QuantumLight website states. The fund will identify investment opportunities using a machine called Aleph as its “proprietary quantitative decision engine.”
According to Forbes, QuantumLight will be focused mainly on Series B and Series C rounds, based on software which eliminates “human judgement.” Storonsky argues that the model is designed to eliminate the clubby world of venture capital, where decisions are made through a crowd mentality.
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