A venture fund backed by Steven A. Cohen’s Point72 Asset Management is investing in an app maker that encourages small-dollar contributions into a basket of exchange-traded investment
A hedge fund titan of active investing, Steven A. Cohen, is making a bet on tiny investments in passive index funds. Point72 Ventures, an early-stage venture fund backed by Mr. Cohen’s Point72 Asset Management LP, has invested $2 million in Acorns Grow Inc., a millennial-focused app maker that encourages users to make regular small-dollar contributions into a basket of exchange-traded index funds as a way to start saving. RELATED The Passivists: Wall Street’s ‘Do-Nothing’ Investing Revolution The Irvine, Calif.-based startup raised $35 million this year in a round led by PayPal Holdings Inc., which Point72 more
http://www.wsj.com/articles/steven-a-cohen-makes-a-move-into-gasp-index-funds-1479818337
