Quantopian Fundraise Lays Groundwork For Hedge Fund

Oct 21 2014 | 7:26am ET

Algorithmic trading platform Quantopian is set to expand into hedge funds.

The Boston company, which offers investors a place to build, test and execute their trading algorithms, said last week that it had raised $15 million in Series B financing. The money—from Bessemer Venture Partners, Khosla Ventures, Spark Capital and Wicklow Capital—will be used to add staff and to develop its Quantopia Managers Program.

QMP is a sort of fund of funds, allocating to the best-performing strategies on Quantopian’s platform. The firm will seed it with $10 million.

Quantopian plans to double its staff to 40 over the next year.

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