According to a report cited by Forbes, Point72 Ventures, the venture capital firm of renowned 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 specializing in financial technology and cryptocurrency. Two sources revealed that the company will redirect more of its energy towards investing in artificial intelligence and defense technology startups.
The departing employees include three investors focused on financial technology and two investors from the digital assets team. Sources mentioned that partners Tripp Shriner and Sugam Sarin may also leave, but another source suggested they might stay on to support the existing portfolio companies.
A spokesperson for Point72 stated in a statement to Forbes: