Nik Storonsky, the founder of Revolut, is now venturing into the world of quantitative investment and venture capital with his firm QuantumLight. The firm, established in 2022, uses algorithms and artificial intelligence to source deals for early-stage companies. QuantumLight has invested around $200 million in nearly a dozen startups in the past year. Despite the downturn in the venture sector, the firm recently acquired a stake in health care-focused startup Rad AI. Storonsky joins other European tech billionaires, including Guillaume Pousaz and Daniel Ek, who are expanding their wealth through venture investments.

Storonsky believes that systematic strategies will play a significant role in the market for startup deals and aims to challenge the traditional venture landscape. While many venture funds use AI models, QuantumLight positions itself as the "first truly systematic" venture firm. The firm provides its portfolio companies with a playbook based on Storonsky's experience in building Revolut into a successful company. QuantumLight, led by CEO Ilya Kondrashov, expects to continue making investments at a consistent pace for the next three years without immediate plans for another fundraise.