New York Post

Dark-pool diving’s Imperative: Cohen

- By CARLETON ENGLISH cenglish@nypost.com

Billionair­e Steve Cohen is on a fintech buying spree.

Point72 Ventures, the venture-capital arm of Cohen’s hedge fund Point72 Asset Management, has invested in Imperative Execution, a New York startup with plans to launch a so-called “dark pool” trading platform that will thwart high-frequency traders, the company confirmed.

The company did not disclose the size of the investment.

The investment comes on the heels of Point72 Venture’s seed investment in SAY, a nascent New York technology platform that seeks to help small shareholde­rs have a greater voice in how the companies they’re invested in are run.

SAY “might make the world of activism more interestin­g because more investors will have a say,” Cohen told The Post on the sidelines of a charity event Monday.

SAY, which is founded by Jeff Cruttenden, the cofounder micro-investing app Acorns, plans to offer a tech-based solution to facilitate the cumbersome and paper-heavy proxy-voting process.

“Some people didn’t think they were worthy of investing and voting,” Crutten- den said in an interview with The Post earlier this month. “The system was about the distributi­on of the proxy materials, not voting.”

Point72 Ventures led the $8 million funding round for SAY.

Imperative Execution was founded by Roman Ginis, who worked for Cohen as a quantitati­ve trader.

Ginis’ latest venture aims to eradicate the multibilli­on-dollar problem of “slippage” that plagues traders, according to a Wall Street Journal report, which first reported on the Imperative investment.

Newspapers in English

Newspapers from United States