Revolut founder Nik Storonsky hires CEO for his AI-powered VC firm

Quick Take

  • Revolut founder Nik Storonsky appears to have hired Ilya Kondrashov to head up his AI-powered venture capital firm Quantum Light. 
  • Kondrashov will head up a $200 million fund that will employ AI to find the best startup to invest in globally, with a particular focus on the U.S. 

Revolut founder Nik Storonsky appears to have named the CEO of his AI-powered venture capital firm Quantum Light Capital.

Ilya Kondrashov, most recently the founder and advisor to Dubai-based family office Five8 Foundation, joined Quantum Light Capital as its chief executive this month, according to his LinkedIn profile.

Before Five8, Kondrashov held executive positions and founded small business credit startup MarketFinance, which was backed by banking giant Barclays and venture capital firm Northzone. On his Twitter page, he describes himself as an "entrepreneur and investor", with interests in fintech, SaaS and Web3. 

Kondrashov did not immediately respond to a LinkedIn message seeking comment and a Revolut spokesperson declined to comment. The Block also reached out to Quantum Light but did not hear back. 

Quantum Light hopes to be an alternative to the de-facto relationship-driven venture model by employing an artificial intelligence named Aleph to reduce dependency on human judgment. In a Forbes report, Storonsky said he spent the last year building a team of data scientists and engineers to browse LinkedIn, corporate filings, and other public databases to identify fast-growing startups before announcing the fund in the interview. 

The neobank founder also said that he himself will invest around $200 million into its first fund with other limited partners — the backers of venture funds.

Along with the hiring of Kondrashov, it also lured former Revolut operating principal Ezio Mantegazza for a principal role and former Revolut product owner Pavel Shvetsov to be its head of quantitative investment strategy and research earlier this year. 


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