The Morning Brief: Steve Cohen’s VC Firm Makes New Investment
Point72’s venture arm is on a roll, participating in a financing of a global communications firm.
Point72 Ventures, the venture capital unit launched last year by Steve Cohen’s family office, has made its first investment of the year. It participated in a financing of Street Contxt, a global communications company, according to Crunchbase.com. The amount of the investment and the size of the financing were not disclosed since the round is still open, according to betakit.com, which reports on Canadian startup news and technology. Altogether, the company has raised $15 million since its launch. In January 2016, the company raised $8 million in a Series A financing.
This is at least the fifth investment made by Point72 Ventures. It describes itself on its website as an early-stage venture capital strategy funded exclusively by Cohen and eligible employees of Point72 Asset Management. It seeks to invest in emerging technologies in the financial services industry. “This is not just about writing checks,” Matthew Granade, the chief market intelligence officer of Point72, told Bloomberg last year. “We want to do this in spaces where their products can help us invest with greater insight.”
The Bienville Argentina Opportunities Fund continues to roll, gaining 5.4 percent in March. It is now up 22.9 percent for the year, making it one of the best performers this year. Since its July 2014 inception the fund is up 70 percent.
Dyal Capital Partners II has made a minority investment in Sound Point Capital, a credit-oriented alternative investment firm with more than $11.5 billion of assets under management. Sound Point was founded in 2008 by Stephen Ketchum, along with principals of Stone Point Capital, a private equity firm. Ketchum has more than 25 years of credit structuring, advisory and investment management experience. Dyal is affiliated with Neuberger Berman Group. Altogether, Dyal Capital Partners, created in 2011 to invest in institutional alternative asset management businesses, manages three permanent capital funds and has 21 existing minority partnerships.