Billionaire hedge fund manager Steven Cohen has reportedly made the decision to move into the highly volatile cryptocurrency markets via a new partnership between his venture capital firm and Autonomous Partners, which is led by crypto venture capitalist Arianna Simpson.
Steven Cohen's Venture Capital Firm Gets Into Crypto With New Partner https://t.co/cR1iQntzHE
— Arianna Simpson (@AriannaSimpson) July 12, 2018
According to a recent report published by Fortune, Cohen’s venture firm has worked with Simpson in the past when it invested in her Crystal Towers Capital Fund in 2015.
While little is known about the partnership at this time, Simpson shared her current crypto investment thesis in an interview with Fortune, which includes small cap plays in the areas of privacy, scalability and decentralized exchanges.
It’s still up in the air if people want to do a number of thing on the blockchain. We’re still figuring out what needs one and what doesn’t. But It’s clear they want to trade, and they want to play games.
Interestingly, Simpson explicitly notes that Ripple’s XRP is not currently included in the firm’s list of investible cryptocurrencies, citing concerns of centralization and regulation as a potential security.
The founder of Point72 Asset Management and S.A.C. Capital Advisors, Cohen has a personal worth of more than $14 billion. He was originally well known for his rapid trading activity but has since moved into longer-term equity holding.
Cohen Private Ventures has not yet commented on the partnership news.