Fintech and open banking billionaire Nik Storonsky, Co-founder of Revolut, announced his plan to launch his own venture fund powered by artificial intelligence. Storonsky will put $200 million into the Quantum Light Capital fund with the help of other investors. Storonsky will utilize machine intelligence to find prospective Series B and Series C target firms, drawing on his fundraising experience with Revolut. For years, venture capital firms have utilized similar tactics to spot and track new potential investments, some include Social Capital which is based in the United States, and EQT Ventures and Blossom in Europe and the United Kingdom. Over the last year, Storonsky has employed a staff of six data scientists and engineers to scour LinkedIn, corporate filings, and other databases for fast-growing firms.
Revolut’s Billionaire Founder Nik Storonsky To Launch AI-Led Venture Capital Fund