Deviation Capital spins out from Two Sigma Ventures and seeks $300 million fund
Updated
Updated · The Wall Street Journal · May 4
Deviation Capital spins out from Two Sigma Ventures and seeks $300 million fund
5 articles · Updated · The Wall Street Journal · May 4
The New York firm manages more than $2 billion in assets, has 79 portfolio companies and is led by Colin Beirne, Dusan Perovic, Sidney Costabile and Jonathan Golden.
Its target is below the $326 million raised in 2022, while Golden is building a San Francisco presence as Deviation expands beyond Two Sigma Ventures' all-New York base.
Two Sigma says it still backs the team, remains an LP in older funds and will keep collaborating through technical experts, even as some former partners stop making new investments.
Is Deviation Capital's spinout a strategic escape from its parent's turmoil or a genuine evolution for its investors?
Can an independent VC firm truly innovate while still tethered to its former hedge fund parent for data and talent?