The hedge fund competition platform Numerai has raised $100 million in funding

ChainCatcher news, the hedge fund competition platform Numerai announced that it has raised $100 million in new funding for its artificial intelligence hedge fund. Its founder Richard Craib stated that Numerai has the support of former Renaissance Technologies executive Howard Morgan. After receiving a donation fund and new allocations from several managers in the U.S., the company currently manages nearly $300 million in funds. The company also recently raised $10 million from investors such as Union Square Ventures.

Numerai invests based on the wisdom of the crowd by collecting trading ideas from data experts, engineers, and scientists, who are then rewarded with its native cryptocurrency. Users can submit their investment ideas to the crowd-sourced fund simply by betting with tokens issued by Numerai.

According to crypto data platform RootData, in April 2021, Numerai raised $5 million through the sale of NMR tokens, led by Pantera. (source link)