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Steve Cohen's Point72 Said to Explore Raising a Venture Fund

Steve Cohen
Steve CohenPhotographer: Scott Eells/Bloomberg
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Steve Cohen’s Point72 Asset Management has discussed with clients the possibility of raising a venture fund at the same time he’s predicting lackluster returns for hedge funds.

Cohen, who made his $10 billion fortune running a hedge fund, spent years building a team led by Matthew Granade to make venture investments with his personal wealth through a unit called Point72 Ventures. They’ve recently talked with prospective clients about adding a fund that would manage outside money, according to people with knowledge of the matter, who asked not to be identified because the discussions are private. The fund could exceed $750 million, one of the people said.