NYC-based Point72 closed its inaugural private equity fund, at $600m.
Point72 Hyperscale acquires companies and uses applied artificial intelligence to modernize them into market leaders.
Earlier this year, the firm established Point72 Private Investments as the new business unit for its growing institutional private investing activities, which include Point72 Ventures, its global venture capital strategy, and Point72 Hyperscale. This new structure will support the continued evolution of Point72’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.
Steven A. Cohen, CEO, 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.