06.19.2018

Hedge Fund Winton Spins Out Data Science Unit

Hivemind, a data science and technology company offering a cloud-based platform for solving complex unstructured data problems, has named several Winton employees to its team in full-time roles.

Their number include: Daniel Mitchell, who ran a team of data scientists at Winton and becomes Hivemind’s Chief Executive; former Winton business development SVP Henrik Grunditz, who becomes Chief Revenue Officer; and Mark Roulston, formerly a Managing Director in Winton’s research team and now Senior Data Scientist at Hivemind.

Hivemind’s employees will together own 25% of Hivemind’s equity, with the remainder held by Winton. Winton will also continue to be a client of Hivemind, which began offering services to third parties a year ago. In due course, Hivemind intends to expand its list of external clients and to raise external capital to fuel its continuing growth.

Hivemind’s board of directors will include Winton Founder and CEO David Harding, Geoff Cross, a Winton Managing Director, and Daniel Mitchell.

David Harding, Winton’s Founder and CEO, said: “We’re delighted that Hivemind has taken the next step in its development. By separating the company from Winton’s core investment business, we intend to make Hivemind’s data science expertise available to a wider market, and to unlock the value we believe exists in the business.”

Daniel Mitchell, Hivemind’s CEO, said: “Companies today are grappling with the growth in unstructured data, such as text, video or images. Hivemind’s cloud-based platform efficiently structures this data so that companies can process and analyse it.

“Having been involved in Hivemind’s development since it was first conceived, I’m thrilled that Winton has given us the opportunity and support we need to accelerate the company’s growth.”

Source: Winton

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