Numerai, an investment firm that builds its portfolio using machine learning models and crowdsourced data science, has secured fresh capital of $30m.
The investment was led by several major university endowments, with participation from existing backers Union Square Ventures, Shine Capital and Paul Tudor Jones. The deal places Numerai at a $500m valuation, marking a five-fold increase since its previous valuation in 2023.
Numerai operates an AI-powered hedge fund that aggregates insights from thousands of data scientists around the world. Its platform blends these models into what it calls a “Meta Model”, which informs trading strategies across global equities. The firm has been known for its unconventional approach to investment management, combining crowdsourced intelligence, cryptographic incentives and machine learning.
The new capital will support Numerai as it scales its operations and accelerates the expansion of its investment capacity. According to the company, the equity raise follows a series of major milestones, including securing up to $500m in capacity from J.P. Morgan and purchasing $1m worth of NMR, its native token, on the open market to enhance alignment with its community. The fresh funding will also support the company’s ambition to grow its assets under management (AUM) towards the $1bn mark and beyond.
Additional information outlined by Numerai highlights a period of rapid expansion. Over the past three years, AUM has climbed from roughly $60m to $550m, with an additional $100m added in the past month alone. In 2024, its Meta Model delivered a net return of 25.45% with only a single down month. The company is also increasing its physical footprint by moving into larger headquarters in San Francisco and preparing to open a new office in New York.
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