Key Takeaways
- • Point72 Ventures leads Messari's $21 million Series A funding round, marking the hedge fund's first crypto venture investment and a significant escalation of its cryptocurrency strategy.
- • Messari, founded by DCG and CoinDesk alumnus Ryan Selkis, achieves a post-money valuation near $100 million as a crypto data and research platform serving institutional investors.
- • Point72 CEO Steven Cohen has publicly stated he is "fully converted" on crypto as a market opportunity, though he clarified he does not specifically endorse Bitcoin, signaling a calculated rather than speculative approach.
- • Adam Carson, Point72 Ventures operating partner, joins Messari's board alongside Jeff Clavier (former Thomson Reuters executive), demonstrating deep operational engagement beyond passive capital deployment.
- • Messari plans to deploy capital toward aggressive expansion, targeting recruitment of more than 1,000 analysts to scale its research and analysis offerings for sophisticated market participants.
Summary
Point72 Ventures, the venture capital arm of Steven Cohen's $22.1 billion hedge fund, has made its inaugural crypto venture investment by leading Messari's $21 million Series A funding round. The funding round values the cryptocurrency data and research firm at approximately $100 million post-money valuation. This move represents a strategic inflection point for Point72's cryptocurrency positioning, following months of internal exploration of crypto market opportunities across both its venture and hedge fund operations.
Messari, founded by Ryan Selkis (a former executive at both DCG and CoinDesk), operates in the competitive landscape of crypto market intelligence and research. The company provides data analytics and research tools designed for institutional and advanced investors navigating digital asset markets. Additional investors in the Series A include Alameda Capital, Nascent, and CMS Holdings, broadening the institutional backing behind the venture.
Point72's involvement signals leadership confidence in the long-term value of crypto market infrastructure. In recent public comments, CEO Steven Cohen outlined his conviction on cryptocurrency adoption, stating he has been "fully converted" on crypto as a market development opportunity. However, he clarified that this conviction does not extend to Bitcoin specifically, suggesting a nuanced investment thesis focused on emerging crypto applications and market structure rather than cryptocurrency assets themselves. Cohen further noted that crypto market developments represent "a real interesting adjacency" to Point72's existing investment activities.
The hedge fund's operational commitment extends beyond capital allocation. Adam Carson, an operating partner at Point72 Ventures, is joining Messari's board of directors, alongside Jeff Clavier, a former Thomson Reuters executive who participated in Messari's seed round in 2019. This board-level involvement indicates Point72's intent to provide strategic guidance and governance oversight during Messari's expansion phase. Selkis has articulated an ambitious growth agenda, planning to deploy the new capital toward hiring more than 1,000 analysts—a substantial workforce expansion aimed at scaling the firm's research and data capabilities across the crypto ecosystem.
Point72's entrance into crypto venture investing reflects broader institutional appetite for digital asset infrastructure plays over direct cryptocurrency exposure, positioning the hedge fund to benefit from growth in market transparency, data quality, and institutional adoption mechanics.
Messari, founded by Ryan Selkis (a former executive at both DCG and CoinDesk), operates in the competitive landscape of crypto market intelligence and research. The company provides data analytics and research tools designed for institutional and advanced investors navigating digital asset markets. Additional investors in the Series A include Alameda Capital, Nascent, and CMS Holdings, broadening the institutional backing behind the venture.
Point72's involvement signals leadership confidence in the long-term value of crypto market infrastructure. In recent public comments, CEO Steven Cohen outlined his conviction on cryptocurrency adoption, stating he has been "fully converted" on crypto as a market development opportunity. However, he clarified that this conviction does not extend to Bitcoin specifically, suggesting a nuanced investment thesis focused on emerging crypto applications and market structure rather than cryptocurrency assets themselves. Cohen further noted that crypto market developments represent "a real interesting adjacency" to Point72's existing investment activities.
The hedge fund's operational commitment extends beyond capital allocation. Adam Carson, an operating partner at Point72 Ventures, is joining Messari's board of directors, alongside Jeff Clavier, a former Thomson Reuters executive who participated in Messari's seed round in 2019. This board-level involvement indicates Point72's intent to provide strategic guidance and governance oversight during Messari's expansion phase. Selkis has articulated an ambitious growth agenda, planning to deploy the new capital toward hiring more than 1,000 analysts—a substantial workforce expansion aimed at scaling the firm's research and data capabilities across the crypto ecosystem.
Point72's entrance into crypto venture investing reflects broader institutional appetite for digital asset infrastructure plays over direct cryptocurrency exposure, positioning the hedge fund to benefit from growth in market transparency, data quality, and institutional adoption mechanics.
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