Nik Storonsky’s AI Venture Firm Raises $250 Million for Startups

Billionaire Nik Storonsky’s artificial intelligence-focused venture capital firm has completed a funding round of $250 million as it steps up its hunt for fresh startups for investment.

QuantumLight’s raise for its Fund I is from an undisclosed group of limited partners including a mix of fellow billionaire tech founders, family offices, as well as more traditional finance institutions, according to a statement Tuesday. The largest contribution of capital — around a quarter — came from the firm’s two general partners Storonsky and QuantumLight Chief Executive Officer Ilya Kondrashov.

Nikolay Storonsky

Photographer: Benjamin Cremel/AFP/Getty Images

Storonsky — who founded Revolut Ltd., a ...