JPMorgan Backs Paul Tudor Jones-backed Crowdsourcing Hedge Fund With Up To $500M

Benzinga

Paul Tudor Jones-backed Numerai LLC has secured a commitment of up to $500 million from JPMorgan Asset Management, potentially more than doubling its size from the $450 million it currently manages. The San Francisco-based crowdsourcing hedge fund sources trading ideas from freelance quants who are compensated in its Numeraire cryptocurrency and use the token to stake confidence in their models. Numerai delivered a 25% return last year after a 17% loss in 2023, marking 15 consecutive months of gains and drawing fresh investor interest. The Numerai One fund has delivered positive results in all but one year since inception, including a 20% gain in 2022. It is estimated to be up about 6% net of fees so far this year.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Paul Tudor Jones backed Numeri LLC and secured a commitment of up to $500 million from J.P.

00:07Morgan Asset Management, potentially more than doubling its size from the $450 million it

00:12currently manages. San Francisco-based crowdsourcing hedge fund sources trading ideas from freelance

00:17quants who are compensated in its Numeri cryptocurrency and use the token to stake

00:21confidence in their models. Numeri delivered a 25% return last year after making a 17% loss

00:27in 2023, marking 15 consecutive months of gains and drawing fresh investor interest.

00:33Numeri One Fund has delivered positive results in all but one year since inception,

00:37putting a 20% gain in 2022. It's estimated to be off about 6% net of fees so far this year.

00:43For all things money, visit Benzinga.com.

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