-- Nik Storonsky spent the past decade shaking up banking with his financial services firm Revolut. Now the billionaire former Lehman Brothers trader is looking to pull off a similar feat in venture capital.Biden Plummets in Leaked Democratic Polling Memo, Puck Says
“We look quite different compared to a traditional venture firm,” Chief Executive Officer Ilya Kondrashov, 38, said in an interview at the London offices of Revolut. “It’s pretty logical that something like what we are doing will exist.” Pousaz and Ek have a combined fortune of about $10.4 billion, while Storonsky, Revolut’s co-founder and CEO, is worth roughly $4 billion, according to the Bloomberg Billionaires Index.Storonsky got his start in finance trading equity derivatives at Lehman Brothers in 2006 before moving to a similar role at Credit Suisse in early 2008, according to his LinkedIn profile. He worked at the Swiss firm for more than five years before leaving to start Revolut after growing frustrated with banking.
Quant investing has been a powerful force in public markets for decades, but systematic players typically haven’t touched private assets because a lack of publicly available data hindered analysts’ hunt for profitable patterns and dislocations. That’s rapidly changing as Wall Street firms seek to gain an edge amid a recent boom in private equity and credit, with firms such as Ares Management Corp. and BlackRock Inc. hiring quantitative analysts more usually found in data-heavy parts of finance.
“Ultimately, in VC, money is not a differentiator,” she said. “It’s the soft stuff, the door-opening and so on.” Kondrashov, a Cambridge University graduate and former Goldman Sachs Group Inc. analyst, previously started his own UK fintech called Kriya. He said Storonsky remains the main figure behind QuantumLight.The two first met before the pandemic at a dinner for entrepreneurs in central London and later reconnected as Storonsky was starting to build up QuantumLight in 2022. The fund, which made its first deal in July 2023, allocates about $5 million per investment.
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