Point72 Preps First Venture Fund for Clients, Focuses on Defense

Point72 Preps First Venture Fund for Clients, Focuses on Defense

Billionaire Steve Cohen’s Point72 Asset Management is raising its first venture capital fund for clients, seeking to bet on the “urgent” need for defense technology startups.

Point72 launches first venture fund for external clients

Point72 Asset Management, the multi-strategy hedge fund led by billionaire investor Steve Cohen, is set to launch its first venture capital fund open to external clients, with a sharp focus on the rapidly evolving defence technology sector, according to a report by Bloomberg The report cites investor materials reviewed by Bloomberg as revealing that new vehicle, dubbed the Deterrence Fund, is targeting a $400m raise and will primarily make early…