Steve Cohen backs crypto hedge fund Autonomous Partners
through Cohen Private Ventures.
Cohen’s backing comes amid growing interest from
mainstream investors in crypto assets.
Hedge fund billionaire Steve Cohen has invested in the crypto
according to Fortune.
Fortune reported on Thursday that Cohen has invested in crypto
asset hedge fund Autonomous Partners through his vehicle Cohen
Private Ventures. Autonomous, which was founded last year, has
also raised money from Union Square Ventures and Coinbase CEO
It is not known how much Cohen has invested in the fund but the
backing coming amid growing signs of interest from institutional
and more mainstream investors in crypto assets.
There are over 250 crypto-only hedge funds, with the bulk
launched over the last 18 months. These give more traditional
investors access to the fast-growing, but high-risk, crypto
sector. Financial technology research house Autonomous Next
estimates that these funds have raised as much as $5 billion
Cohen made his estimated $11 billion fortune running SAC Capital,
one of Wall Street’s most feted hedge funds in the 2000s before
it was shut down by the SEC amid an insider trading probe. SAC
Capital pleaded guilty to insider trading in the US in 2013 and
paid a $1.3 billion fine. Cohen never admitted personal blame but
was banned from supervising funds for two years. That ban expired
earlier this year.
Cohen has been focusing on his personal hedge fund, Point72, in
the interim but is in the process of opening up the fund to
outside capital now that his ban has expired. Last week it
Britain’s financial regulator had blocked Cohen from taking
external investor money in the UK.