Key Takeaways
- • Numerai raised $30 million in a Series C round led by top university endowments, valuing the AI-driven, crypto-incentivized hedge fund at $500 million, five times its 2023 valuation (according to Cointelegraph).
- • The company's NMR token jumped more than 40% following the announcement, according to CoinGecko data.
- • Numerai reports assets under management of $550 million, up from about $60 million over the past three years, including roughly $100 million added in the last month.
- • The Meta Model posted a 25.45% net return in 2024, with one down month.
- • The round follows a $500 million commitment from JPMorgan Asset Management in August, which Numerai aims to deploy over the next year.
Summary
Numerai, the San Francisco-based quantitative hedge fund founded in 2015, has closed a $30 million Series C round led by several top university endowments, according to Cointelegraph. The round values the firm at $500 million, five times its valuation in 2023. Existing backers Shine Capital, Union Square Ventures and Paul Tudor Jones also participated.
The company said its assets under management have grown to $550 million from about $60 million over the past three years, including about $100 million in the last month. Its Meta Model posted a 25.45% net return in 2024 with one down month. Numerai's model crowdsources machine-learning models from thousands of anonymous data scientists worldwide.
The firm's native token, NMR, underpins the system. Participants stake NMR on their predictions, earning tokens when models perform well on real market data and losing them when they do not. Following the funding announcement, NMR jumped more than 40%, according to CoinGecko data.
The raise comes after Numerai secured a $500 million commitment from JPMorgan Asset Management in August, which it plans to deploy over the next year. The article also places Numerai within a broader trend of AI agents becoming embedded in crypto infrastructure, citing Coinbase's x402 protocol, which allows AI agents to transact in stablecoins without human input, and Cloudflare's planned NET dollar stablecoin for AI agent transactions.
The company said its assets under management have grown to $550 million from about $60 million over the past three years, including about $100 million in the last month. Its Meta Model posted a 25.45% net return in 2024 with one down month. Numerai's model crowdsources machine-learning models from thousands of anonymous data scientists worldwide.
The firm's native token, NMR, underpins the system. Participants stake NMR on their predictions, earning tokens when models perform well on real market data and losing them when they do not. Following the funding announcement, NMR jumped more than 40%, according to CoinGecko data.
The raise comes after Numerai secured a $500 million commitment from JPMorgan Asset Management in August, which it plans to deploy over the next year. The article also places Numerai within a broader trend of AI agents becoming embedded in crypto infrastructure, citing Coinbase's x402 protocol, which allows AI agents to transact in stablecoins without human input, and Cloudflare's planned NET dollar stablecoin for AI agent transactions.
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