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Point72 closes Point72 Hyperscale Fund

Point72 has closed on a USD600 million funding round for Point72 Hyperscale, its inaugural private equity fund that acquires companies and uses applied artificial intelligence to modernise them into market leaders.

“The close of our first private equity fund with external investors marks an important milestone as our institutional private investing business enters a new phase of growth and maturity,” says Steven A Cohen, founder and CEO of Point72. “Point72 has a unique opportunity to apply our investment model and deep expertise to capitalise on the vast opportunities presented by investing in promising private companies.”

Earlier this year, the Firm established Point72 Private Investments as the new business unit for its growing institutional private investing activities, which include Point72 Ventures, its global venture capital strategy, and Point72 Hyperscale. This new structure will support the continued evolution of Point72’s private investing businesses.

In conjunction with establishing Point72 Private Investments, Dan Gwak and Sri Chandrasekar, who previously co-led Point72 Ventures’ investment activities in deep tech, were appointed to senior leadership roles within the Point72 Private Investments business. Dan Gwak serves as Managing Partner of Point72 Private Investments and Sri Chandrasekar is Managing Partner of Point72 Ventures. Gwak and Chandrasekar are also Managing Partners of Point72 Hyperscale.

“Dan and Sri have a deep expertise for identifying smart founders with innovative ideas that have the potential to revolutionise industries,” Cohen adds. “I look forward to continuing to work with them as we evolve the business and explore new opportunities in the private markets.”

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