Venture Capital: "Quantopian raises $15 million for a new ‘quant’ led trading fund"

From Beta Boston:

Quantopian, the Boston company that has created an open online network for developers of quantitative trading algorithms, announced today that it has raised $15 million in funding.

Additionally, the company made an announcement that creates some competition among its users by launching the Quantopian Managers Program. The company is calling the program a “hedge fund that allocates capital to the top-performing quants in the community.”

Quantopian was created as a place, as founder and chief executive John Fawcett told me earlier this year, where “nerds and hackers write code that is then used to trade stocks and invest.” Started as a community for “quants,” people who design trading algorithms for the stock market, the idea behind Quantopian was to create an alternative to the secret, and often protected (by Wall Street firms) world of quantitative economic analysis.

In January, Quantopian started allowing community members to use their algorithms for live stock market trading, and in June, the company opened up more of its network to the public....

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