According to a report cited by Forbes from informed sources, Point72 Ventures, the venture capital firm of well-known hedge fund manager and owner of the MLB’s New York Mets, Steve Cohen, is shifting its focus to other areas after laying off five investors who were focused on the fintech and cryptocurrency sectors. Two sources revealed that the company will be directing more of its attention towards investing in artificial intelligence and defense technology startups.
The departing employees include three investors focused on fintech and two investors from the digital assets team. Sources say that partners Tripp Shriner and Sugam Sarin may also be leaving, but another source suggests that they may continue to remain with the team to provide support for the existing investment portfolio.
A spokesperson for Point72 stated in a statement to Forbes that:
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