(FINalternatives) Online investment algorithm platform Quantopian has begun allocating the $250 million in capital received last fall from Steven Cohen’s Point72 Asset Management.Investments range from $100,000 to $3 million, the firm said in a statement, and went to the 15 top crowd-sourced strategies that survived a rigorous evaluation process of more than 100,000 submissions. Both the size and the number of allocations will be ramped up on a monthly basis, the company added.
The news comes close on the heels of Quantopian’s March decisions to team with fund administrator SS&C to support its investment operations and bring aboard former Boston Company executive Leslie Baccini as director of investor relations.