The investment firm has one of the world’s largest computerized trading fortunes and it is now boosting its bets in machine learning.
James Simon’s family office, Euclidean Capital has invested in around six companies that focus on artificial intelligence since 2020, inclusive of aviation, healthcare, and customer services.
The firm participated in fundraising rounds last month for Drone Base, an aerial imaging startup and Duality Technologies, a data privacy firm, which applies AI to its analytics. It also raised its bets for Peltarion, a deep-learning platform, and ASAPP, an AI-based customer experience platform.
Simons, founder of the quantitative hedge fund Renaissance Technologies is 81 years old, with a net worth of $25.3 billion.
Euclidean is currently investing in an area that made Simons one of the most successful investors in the world. He is well-known as an early adopter on Wall Street, where he used AI to make trading decisions at Renaissance, which already had around $60bn in assets at the beginning of 2021.
Simons was also a former chairman of the math department at Stony Brook University in New York, where he published academic papers that supported machine learning initiatives through his family’s charitable foundation.
Euclidean is led by a former chief investment officer at Merill Lynch Wealth Management, Ashvin Chabbra, who works with over a dozen staff based in the U.S and recent hires from GoldenTree Asset Management and Cambridge Associates.
Euclidean’s head of investment strategy is Monique Miller who joined the family office in 2018, after being previously employed as the managing director at Wilshire.
Since 2020, the family office has also invested in biotech startup Codagenix, which is developing a Covid-19 vaccination and Dascena, a machine-learning diagnostics firm. By September 30, Euclidean owned about $170 million in stakes in more than a dozen publicly traded companies, inclusive of health-care firms, such as RAPT Therapeutics Inc., Alector Inc., and PMV Pharmaceuticals.
‘Family Office For Billionaire Renaissance Founder Boosts AI Investments‘- Benjamin Stupples, Bloomberg
