Numerai Secures Up To $500M Commitment From JPMorgan Asset Management
San Francisco-based hedge fund Numerai (CRYPTO: NMR) has secured a commitment of up to $500 million from JPMorgan Asset Management (NYSE:JPM), potentially more than doubling the firm’s size.
What Happened: Numerai currently manages about $450 million and expects the new capital to be deployed over the next year.
Founded in 2019, Numerai operates an unconventional model that sources stock-trading strategies from freelance quantitative analysts, according to Bloomberg.
Participants submit ideas using the firm’s proprietary platform and stake its native token, Numeraire (NMR), to demonstrate confidence in their forecasts.
Successful contributors are rewarded with additional tokens, while underperforming models lose value.
Numerai then builds long-short equity portfolios based on these aggregated signals.
The commitment from JPMorgan follows a year of strong returns. Numerai posted a 25% gain in 2024 after …
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