Point72 Ventures has fired five of their investors, three from fintech and two from their digital assets team, according to two sources with knowledge of the situation.
Two sources close to the story told Forbes this move is part of a pivot towards investing in AI and defence technology startups. Earlier this year, the company were part of a seed funding round for AI risk management platform ValidMind.
Sources told Forbes that the company, started by billionaire Steven Cohen, could lose partners Tripp Shriner and Sugam Sarin, although they may stay on.
In a statement to Forbes a Point72 spokesperson said: “We are always evaluating our portfolio’s performance and market opportunity, and optimising our strategy and resources around what we think is the biggest opportunity set.”
Earlier this month, Point72 ventures backed Brightwave, an AI-powered financial research assistant. This is compared to company moves in previous years, such as investments in Trade Ledger and Swiss B2B fintech Gen Two.
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