Billionaire Steven Cohen pulls out of investment in quantitative trading startup Radcl - India Blogger

US hedge fund manager Steven Cohen has withdrawn his investment from crypto trading firm Redcall, Bloomberg News reported Aug.

Cohen, the owner of Major League Baseball’s New York Mets, invested an undisclosed amount in Radcal in September 2021.

According to Bloomberg, at least four managing directors also departed Redcall in 2022, including Jim Greco, Alan Erskine, Jason Bell and Beatrice O’Carroll.

Bloomberg also reported that Radcal’s website listed five employees, one of whom confirmed to a news outlet that she had left. However, CryptoSlate found that Redkle’s team page had been taken down at the time of writing.

A Redkle spokesperson told Bloomberg via email:

“Radcal is very well capitalized with its existing investors and is growing rapidly.”

Quantitative trading startup Radkl was founded in 2021 by New York Stock Exchange market maker GTS. According to the press release announcing Cohen’s investment, Cohen had invested in the firm in a personal capacity and was not involved in day-to-day operations.

Cohen has made other investments in the crypto sector. Metaverse investment platform Digital, which was co-founded by Cohen, led a $50 million funding round in non-fungible token platform Ricoor in September last year.

In August 2021, Cohen’s hedge fund, Point 72 Ventures, led a $21 million funding round in crypto intelligence firm Messari.

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