Revolut co-founder Storonsky will invest in Quantum Light Capital
Nik Storonsky steps up as one of Europe’s most efficient startup founders, co-founding Revolut and now starting his own data led VC
The billionaire cofounder of one of Europe’s most valuable firms aims to compete with ‘legacy’ venture capital investors by building his own venture fund powered by artificial intelligence.
Nik Storonsky will put roughly $200 million into the Quantum Light Capital fund with the help of other investors.
Storonsky will utilise machine learning to find prospective Series B and C firms. He draws on his experience having raised $1.8 billion to develop fintech Revolut valued at $33 billion in July 2021.
Stroronsky was born in Russia, but is now a British citizen. He says that the relationship-driven and clubby world of venture capital is obsolete and ready to be shaken.
Over the last year, Storonsky employed six data scientists and engineers to scour Linkedin, corporate filings and other databases for fast-growing firms.
Storonsky previously invested in Tink, a Swedish fintech business that was acquired by Visa for $2.1 billion in June 2021, and Alan, a French digital health company that raised $193 million in May at a $2.8 billion valuation.
The Quanum Light fund’s launch will likely put its creators against venture capital firms such as SoftBank, Tiger Global and Balderton Capital, which previously invested in Revolut.
