AI hedge fund Numerai has raised $30 million in a Series C funding round led by top university endowments, bringing the AI-driven, cryptocurrency-incentivized hedge fund's valuation to $500 million—five times its valuation in 2023.
Following the announcement, the token Numeraire (NMR), which supports the platform's crowdsourced prediction network, surged over 40% according to CoinGecko data.
This funding round attracted participation from existing supporters such as Shine Capital, Union Square Ventures, and Paul Tudor Jones.
The company stated that its assets under management (AUM) have expanded from approximately $60 million to $550 million over the past three years, with about $100 million added just last month. Its Meta Model achieved a net return of 25.45% in 2024, with only one month showing a decline.
Founded in 2015, Numerai is a San Francisco-based quantitative hedge fund that crowdsources machine learning models from thousands of anonymous data scientists worldwide.
Its native token NMR underpins the system, allowing participants to stake on their predictions, earning NMR when their models perform well on real market data and losing NMR when they do not.
This funding round follows the company's $500 million commitment from JPMorgan Asset Management in August, which plans to deploy the funds over the next year.
Numerai's fundraising comes at a time when artificial intelligence is increasingly embedded in cryptocurrency infrastructure. AI agents are part of this shift, acting as autonomous programs capable of monitoring markets, processing data, and executing blockchain operations independently.
In October, Paxos Labs co-founder Bhau Kotecha stated that AI agents could become the "X factor" for stablecoins, directing liquidity to the most efficient issuers. He believes that it is not humans driving adoption, but autonomous systems that can quickly transfer funds across chains, turning market fragmentation into an advantage.
One of the companies supporting this vision is Cloudflare, which announced in September that it is developing a stablecoin called NET dollar to support instant trading by AI agents.
Coinbase is also experimenting with AI agents. Its x402 protocol, launched in May, allows AI agents to trade using stablecoins without human input. The protocol saw trading volume increase by over 10,000% from October 14 to October 20.
Related: Cloudflare outage indicates the need for end-to-end decentralization in cryptocurrency
Original article: “AI Hedge Fund Numerai Secures Support from Top University Endowments, Token Soars”
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