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Point72 announces close of Point72 Hyperscale Fund, establishes new structure for growing institutional private investment businesses

By Edlyn Cardoza

November 16, 2021

  • Point72
  • Point72 Hyperscale
  • Point72 Private Investments
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Point72, Point72 Hyperscale, USA, Point72 Private Investments Point72 recently announced that it has closed on a $600 million funding round for Point72 Hyperscale, its inaugural private equity fund that acquires companies and uses applied artificial intelligence to modernize them into market leaders.

“The close of our first private equity fund with external investors marks an important milestone as our institutional private investing business enters a new phase of growth and maturity,” said Steven A. Cohen, founder, and CEO of Point72. “Point72 has a unique opportunity to apply our investment model and deep expertise to capitalize on the vast opportunities presented by investing in promising private companies.”

Earlier this year, the Firm established Point72 Private Investments as the new business unit for its growing institutional private investment activities, which include Point72 Ventures, its global venture capital strategy, and Point72 Hyperscale. This new structure will support the continued evolution of the firm’s private investing businesses.

In conjunction with establishing Point72 Private Investments, Dan Gwak and Sri Chandrasekar, who previously co-led Point72 Ventures’ investment activities in deep tech, were appointed to senior leadership roles within the Point72 Private Investments business. Dan Gwak serves as Managing Partner of Point72 Private Investments and Sri Chandrasekar is Managing Partner of Point72 Ventures. Mr. Gwak and Mr. Chandrasekar are also Managing Partners of Point72 Hyperscale.

“Dan and Sri have a deep expertise for identifying smart founders with innovative ideas that have the potential to revolutionize industries,” Mr. Cohen added. “I look forward to continuing to work with them as we evolve the business and explore new opportunities in the private markets.”

Mr. Cohen founded Point72 Ventures, the Firm’s global venture capital strategy, in 2016, leveraging his more than 30 years of experience investing in both private and public markets. Today, Point72 Ventures has 30 employees across 8 offices in the U.S. and in Europe, including recently opened office locations in Seattle and Miami. Utilizing their deep domain expertise, the team has invested over $800 million in more than 85 early-stage companies in the areas of FinTech, deep tech, and enterprise technology.

The Point72 Hyperscale strategy launched in 2019 and is focused on applying artificial intelligence to transform established businesses and industries by using data and AI to drive meaningful increases in productivity and margins. Point72 Hyperscale’s “Foundry” team of data scientists, engineers, and product managers engage with portfolio companies to integrate new technology into their business operations and make key hires to help set the company up for self-sustaining success. As AI automates rote tasks, workers can apply human creativity and ingenuity to tackle more complex problems and deliver better service.

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