Quantitative trading firm Two Sigma is expanding its operations to San Francisco, according to a report by Bloomberg News.
The $60 billion firm told Bloomberg that the San Francisco outpost is part of a build-out of its venture capital unit Two Sigma Ventures, which recently brought on Villi Iltchev, formerly of August Capital.
The firm has made investments in more than 70 early-stage companies, according to Bloomberg. Among those investments are two crypto-related companies, including Risk Labs — the firm affiliated with the UMA protocol — and Trustology.
UMA in March announced the launch of a token that would represent ownership of the largest 500 companies in U.S. financial markets. Two Sigma also was the lead investor in Trustology's $8 million seed fund, which was announced on December 2018. Trustology offers services to secure digital assets.