CARLSBAD, Calif.--(BUSINESS WIRE)--NextWave Ventures, a venture-capital firm specializing in the commercialization of early-stage technologies, today announced the formation of Apical Technology, a portfolio of artificial intelligence (AI) technologies.
Advanced by Ron St. Onge and Jim St. Onge, Apical is the result of nearly 20 years of research in optimizing AI-based solutions to non-linear systems. With significant real-world predictive results in market behavior, NextWave Ventures identified an initial opportunity to use the Apical AI-based software platform for equities trading. Apical’s strategies utilize AI and machine learning to generate superior risk-adjusted returns that are non-correlated to both major asset classes and other hedge fund strategies.
“Apical is the result of an incredible body of academic research that Ron and Jim refocused to create AI systems that are currently being applied to machine-guided investment strategies in global equity markets,” said Alan Simoni, Chief Investment Officer at Apical Technology. “Collectively, Ron and Jim bring nearly 50 years of experience in the development of sophisticated trading technologies for various institutional investors to the partnership with NextWave. We are very excited about taking this technology to the next level with operational and financial support from NextWave Ventures.”
Apical Technology is a machine learning system based on a combination of information theory with modified off-the-shelf AI techniques. The system is specifically designed to work with high-volume, noisy financial market data while efficiently mining very large data sets.
“Taking a process that has traditionally been highly manual, emotional, or even linear and leveraging an AI core to build in that layer of intelligent systematic management is something that few technologies can accomplish,” said Jeff Slosar, Managing Partner of NextWave Ventures. “Our strategic investment in Apical’s technologies demonstrates our long-term commitment and belief in what they have designed. We are delighted to be working with Alan, Ron, and Jim to bring their impressive technologies to life, giving future investors another way to maximize their investments.”
Apical will establish various funds that trade under different strategies using Apical AI as the core trading mechanism. As the lead investor, NextWave’s limited partners will also be given an opportunity to directly invest in the various funds launched. NextWave will manage day-to-day operations as Apical continues to position itself for growth.
Alan Simoni, a quantamental hedge fund manager, has also joined NextWave Ventures and will be the Chief Investment Officer of Apical Technology. Prior to Apical, Mr. Simoni was the Managing Partner and Founder of Halcyon Capital Partners, a long/short equity fund that pursued a quantamental global macro strategy. In addition to Halcyon, Alan has held a variety of positions at quantitative hedge funds and late-stage venture capital firms. Alan holds a degree in Economics from Pepperdine University.
“Alan has a successful track record in the hedge fund industry including the founding of Halcyon Capital Partners. We are thrilled to have him join our team as we build out Apical with world-class AI and data scientist talent,” continued Slosar.
Founded in early 2011, NextWave Ventures is a seed to early stage investment firm specializing in the commercialization of advanced technologies. NextWave lends the expertise of its team to help manage the technology commercialization process from a very early stage, closing a gap in the funding marketplace, providing an invaluable resource to bringing technologies to the real world. NextWave is currently raising a $150 million fund to acquire up to 36 technologies.
About NextWave Ventures
Founded in 2011, NextWave Ventures
is a seed to early stage venture capital firm focused on commercializing
university research and advanced technologies. As the investors,
founders and first operators, NextWave forms new companies around
university-based intellectual property, developed through non-dilutive
government funding. Investments span sectors from ambient computing to
advanced materials, artificial intelligence to digital media, and IoT to
3D bioprinting. NextWave is focused on purpose-driven investing,
actively building companies that have direct impact on social and
environmental issues. For more information, visit www.NextWave.vc.