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NextWave invests in AI-focused Apical Technology

NextWave Ventures, a venture-capital firm specialising in the commercialisation of early-stage technologies, today formed Apical Technology, a portfolio of artificial intelligence (AI) technologies.

Advanced by Ron St Onge and Jim St Onge, Apical is the result of nearly 20 years of research in optimising AI-based solutions to non-linear systems. With significant real-world predictive results in market behaviour, NextWave Ventures identified an initial opportunity to use the Apical AI-based software platform for equities trading. Apical’s strategies utilise AI and machine learning to generate superior risk-adjusted returns that are non-correlated to both major asset classes and other hedge fund strategies.
“Apical is the result of an incredible body of academic research that Ron and Jim refocused to create AI systems that are currently being applied to machine-guided investment strategies in global equity markets,” says Alan Simoni, Chief Investment Officer at Apical Technology.
“Collectively, Ron and Jim bring nearly 50 years of experience in the development of sophisticated trading technologies for various institutional investors to the partnership with NextWave. We are very excited about taking this technology to the next level with operational and financial support from NextWave Ventures.”
Apical Technology is a machine learning system based on a combination of information theory with modified off-the-shelf AI techniques. The system is specifically designed to work with high-volume, noisy financial market data while efficiently mining very large data sets.
“Taking a process that has traditionally been highly manual, emotional, or even linear and leveraging an AI core to build in that layer of intelligent systematic management is something that few technologies can accomplish,” says Jeff Slosar (pictured), Managing Partner of NextWave Ventures. “Our strategic investment in Apical’s technologies demonstrates our long-term commitment and belief in what they have designed. We are delighted to be working with Alan, Ron, and Jim to bring their impressive technologies to life, giving future investors another way to maximise their investments.”
Apical will establish various funds that trade under different strategies using Apical AI as the core trading mechanism. As the lead investor, NextWave’s limited partners will also be given an opportunity to directly invest in the various funds launched. NextWave will manage day-to-day operations as Apical continues to position itself for growth.
Alan Simoni, a quantamental hedge fund manager, has also joined NextWave Ventures and will be the Chief Investment Officer of Apical Technology. Prior to Apical, Mr. Simoni was the Managing Partner and Founder of Halcyon Capital Partners, a long/short equity fund that pursued a quantamental global macro strategy. In addition to Halcyon, Alan has held a variety of positions at quantitative hedge funds and late-stage venture capital firms. Alan holds a degree in Economics from Pepperdine University.
“Alan has a successful track record in the hedge fund industry including the founding of Halcyon Capital Partners. We are thrilled to have him join our team as we build out Apical with world-class AI and data scientist talent,” says Slosar. 

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