Point72 Ventures, the venture capital firm of well-known hedge fund manager and MLB Mets owner Steve Cohen, is laying off five investors focused on financial technology and cryptocurrency, Forbes reported, citing people familiar with the matter. Focus on other areas. Two people familiar with the matter said that the company will shift more energy to investing in artificial intelligence and defense technology startups.
The departures include three fintech-focused investors and two from its digital assets team. Partners Tripp Shriner and Sugam Sarin are also likely to leave, people familiar with the matter said, but another person said they are likely to remain on the team to support existing portfolio companies.
A Point72 spokesperson said in a statement to Forbes:
"We are constantly evaluating the performance of our portfolio and market opportunities and optimizing our strategies and resources around what we believe are the greatest opportunities."
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