Genesis Ventures, a coaching and angel investment platform for early-stage startups with a connection to Greece, is pleased to announce a recent pre-seed investment in Prometheus Technologies, an early stage fintech based in Silicon Valley, Athens and Malta intent on disrupting the asset management industry through personalization.
Prometheus’ mission is to enable everyone to have access to the kind of high performing, AI-driven investing which has previously only been available to hedge funds and high net worth individuals. The Prometheus platform also allows users to invest according to their personal values - ensuring that their investments are used to make positive changes in the world - and quantifies the impact of their investment choices on society and the world in general.
Prometheus delivers its solution via partners - typically banks, digital brokers, insurance and pension providers - enabling them to plug & play institutional grade investment solutions for their clients on their existing apps and platforms. Partners enjoy quicker time to market, a new revenue stream, cross-selling opportunities and reduced execution risk & cost of customer acquisition.
Prometheus’s leadership, its investors and advisors are highly experienced asset management professionals. Many of them are ex-Aberdeen Asset Management and the team are pioneers in machine learning investing. Grigorios Papamanousakis, Founder and CEO of Prometheus Technologies, says: “The world of asset management has long been the preserve of big financial institutions. Through our solution, we envisage redefining personalisation in asset management and, through our partners, delivering institutional grade investing to retail customers for the first time.”
“AI-driven alpha generation combined with the option for the user to invest according to their values and measure their investment impact is a game changer in the retail investing market.”, said Stergios Anastasiadis, General Partner at Genesis Ventures. “We recognised that the Prometheus founders are unique in combining deep asset management industry expertise with the technical accomplishment of having successfully developed and deployed machine learning based systematic investing platforms for several years. We thought that this was too good an opportunity to pass on”.
Angel Investor Nick Baltas, Managing Director at Goldman Sachs and visiting researcher at Imperial College Business School adds: “Machine learning based solutions such as Prometheus can help investors adapt their portfolios to respond to turbulent markets. I am truly excited by the potential which Prometheus offers the retail investor to help reach their financial goals in life in ways which were not possible previously.”
SAN FRANCISCO/LONDON MAY 30th, 2022 – Prometheus Technologies is today announcing that it is in the process of establishing a base in Malta and will benefit from the very high calibre of post-graduate talent in machine learning and investment research which is fostered by the University of Malta.
This investment will be supported through financial backing from Malta Enterprise, the development agency of the Maltese Government of up to €1M.
Prometheus’ CEO, Grigorios Papamanousakis, said: “We are delighted to be expanding our presence in Europe via this support from Malta Enterprise and we look forward to extending our lead in delivering values-driven, AI investing into the retail market.
This support will be used to greatly increase our R&D efforts in the areas of AI technology and values-driven impact investing. Our mission is to truly personalize asset management and, through our partners, deliver institutional grade investing to retail customers for the first time. Our Maltese R&D team will help build the technology to deliver a solution through which investors can have control over how their money is invested and quantify the impact of their investments in the society and the world in general”.
Malta Enterprise Chief Executive Officer Kurt Farrugia said: “We welcome Prometheus Technologies to the growing list of fintech startups from which we are seeing a growing interest in Malta. Choosing the Maltese ecosystem for its supportive environment and Malta as their operational base as they develop their innovative intellectual property in partnership with our world class University and talent pool demonstrates the fruitful results of Malta Enterprise’s assistance for startups’’.
James Hughes, Chief Executive Officer of Vedra Partners and board advisor at Prometheus, previously Global Head of Dynamic Solutions at Natixis Investment Managers, and Global Head of Solutions at Aberdeen Asset Management said: “Prometheus is unique in delivering truly personalized asset management. The support of Malta Enterprise will help drive the company’s expansion into the banking, insurance and pension markets, ensuring that AI-driven systematic investing is available through partners to retail investors across these industries. The opportunity to allow individuals to invest based on their own values creates a significant edge"
The Company’s leadership, its investors and advisors have a strong background in asset management. Many of the team are former Aberdeen Asset Management professionals and are pioneers in machine learning investing. Prometheus has been working on the solution in stealth mode for the last two years.
Prometheus enables partners, including fintech’s, banks, brokers, insurers and pension providers, to offer scalable, accessible institutional grade investing to their retail customers. The company has developed a turnkey solution – based on AI investing – which offers alpha generation, as well as enabling each investor to have a personalized portfolio, and is designed to scale.
SAN FRANCISCO/LONDON – MARCH 8th , 2022 – Prometheus Technologies today announces the launch of its asset management solution that is set to redefine personalisation in the investing world, seizing on the industry’s irreversible shift towards values-driven and impact investing.
The Company has developed an app-based intuitive, easy to use B2B2C solution which, for the first time, enables investors to truly shape their portfolios according to their personal values, reacting to news and events in real-time and facilitating investments behind “good actors” while excluding “bad actors”. The company’s objective is to guide users towards stronger personal impact goals as well as enabling better returns at substantially lower costs.
Prometheus enables partners, including fintechs, banks, brokers, insurers and pension providers, to offer scaleable, accessible institutional-grade investing to their retail customers. The Company has developed a turnkey solution – based on AI investing – which offers alpha generation combined with a personalized portfolio. Built to service a wide range of partners, Prometheus will deliver a complete investing solution including regulatory, compliance and analytics functions. Partners benefit by being able to offer a new range of values-driven investment services to existing and potential customers.
The Company’s leadership, investor base and advisors are steeped in asset management. Many of the team are ex-Aberdeen Asset Management and are pioneers in machine learning investing on a global scale. Prometheus has developed the solution in ‘stealth’ mode for the past two years.
“Prometheus empowers every individual to develop their own personal strategy, creating an investment portfolio driven by their core values. This has never been done before,” said Grigorios Papamanousakis, Founder and CEO of Prometheus Technologies. “The world of asset management has long been the preserve of traditional players who have failed to meet the needs of retail investors. Through our proposition we are truly personalizing asset management and, through our partners, we are delivering institutional grade investing to retail customers for the first time.”
“For partners who already offer investing to their clients, we can profoundly enrich a values-driven experience. For partners who don’t, we can provide the complete solution,” added Mr. Papamanousakis, the former Head of Macro Machine Learning Portfolio Management and deputy head of Systematic Solutions at Aberdeen Asset Management. Alongside the freedom to create portfolios, all investment decisions will still reside with Prometheus which acts as a discretionary portfolio manager.