Revolut founder Nick Storonsky announced the creation of Quantum Light Capital, an artificial intelligence-based venture capital fund with about $200 million in assets. informs Forbes.
Quantum Light Capital will use machine learning to identify promising startups and fund them in Series B and C rounds.
According to Storonsky, this model is designed to eliminate “the limitations of the venture capital world, where decisions are made based on the mentality of the crowd.”
At this stage, the project team includes six engineers who analyze LinkedIn, corporate documents and other databases to identify high-growth startups.
Going forward, Nick Storonsky will hire a CEO to lead the fund.
The decision to launch Quantum Light Capital comes as part of Revolut’s ongoing global expansion. In recent months, the fintech company has acquired banking licenses in at least 10 European countries.
Recall that in April, Revolut announced the development of a crypto wallet and related functionality.
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Revolut founder Nick Storonsky announced the creation of Quantum Light Capital, an artificial intelligence-based venture capital fund with about $200 million in assets. informs Forbes.
Quantum Light Capital will use machine learning to identify promising startups and fund them in Series B and C rounds.
According to Storonsky, this model is designed to eliminate “the limitations of the venture capital world, where decisions are made based on the mentality of the crowd.”
At this stage, the project team includes six engineers who analyze LinkedIn, corporate documents and other databases to identify high-growth startups.
Going forward, Nick Storonsky will hire a CEO to lead the fund.
The decision to launch Quantum Light Capital comes as part of Revolut’s ongoing global expansion. In recent months, the fintech company has acquired banking licenses in at least 10 European countries.
Recall that in April, Revolut announced the development of a crypto wallet and related functionality.
Subscribe to Cryplogger news in Telegram: Cryplogger Feed – the entire news feed, Cryplogger — the most important news, infographics and opinions.
Found a mistake in the text? Select it and press CTRL+ENTER
