Quantopian Algo Community Grows to 160K Members

Oct 18 2017 | 11:22pm ET

Crowd-sourced quantitative investment algorithm platform Quantopian has announced its membership has grown to more 160,000 members from more than 190 nations. 

Backed by the likes of Steven Cohen and famed VC fund Andreessen Horowitz, Quantopian’s unique platform allows authors to research and test their quantitative investing algorithm ideas with a fast-growing catalog of high-quality datasets. 

Authors have the opportunity to receive a capital allocation from Quantopian, which received $250 million in capital from Cohen’s Point72 Asset Management last year. The company’s membership consists of professors, finance professionals, research scientists, developers, and students who have combined to put more than 500,000 algorithms up on the Quantopian platform to date. 

Submitted algorithms are reviewed and allocations made based on return, risk, style, capacity and interaction effects, with authors of selected algorithms receiving a 10% share of the net profits generated from their investment strategies. 

Algorithm authors have been allocated as much as $15 million each and Quantopian has allocated more than $150 million to the authors to date, the company said in a statement. 

The number of Quantopian members is up by more than a third since the end of 2016 and has increased by more than 100,000 people since the end of 2015, and more than eight million simulations have been run using the company’s backtester.

“The core of Quantopian is the community we’ve created,” said John Fawcett, CEO and founder of Quantopian, in the statement. “We are excited to see more people joining the community and using our tools, in-depth data sets, research environment, and backtester, all for free. The result is that talented people everywhere, who never would have had access to these kinds of tools, can now develop institutional-quality investment strategies.”

Based in Boston, Quantopian’s community has doubled in each of the last four years. The company has received nearly $50 million in equity investments, including a $25 million Series C round led by Andreessen Horowitz, and counts Bessemer Venture Partners, Khosla Ventures, and Spark Capital among its other backers. 

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