San Francisco-based hedge fund and data science platform Numerai has announced a $30 million Series C financing round led by top university endowments, valuing the company at $500 million—five times its 2023 valuation. This round, which included participation from existing investors such as Union Square Ventures, Shine Capital, and macro investor Paul Tudor Jones, follows J.P. Morgan Asset Management's August 2025 commitment of up to $500 million in hedge fund capacity.
According to Numerai Founder and CEO Richard Craib, "This round brings together exactly the type of investors we want behind Numerai—long-term, deeply informed, and willing to back a very different model of asset management built for the 21st century." The new capital will be used to expand AI engineering and research teams, increase hiring, grow participation in its global data science tournament, and scale institutional hedge fund products, aiming for nearly $1 billion in assets under management (AUM).
Over the past three years, Numerai has grown its AUM from approximately $60 million to $550 million, with its flagship global equity hedge fund delivering a net return of 25.45% in 2024, the firm's strongest performance to date. The investment process relies on a global tournament where thousands of data scientists submit machine learning models, aggregated into a Meta Model for trading. Central to this ecosystem is Numeraire (NMR), an Ethereum-based cryptocurrency used for staking on signals, with participants earning or burning tokens based on performance, aligning incentives and connecting to the broader blockchain ecosystem.
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