NextWave Makes Strategic Investment in Proprietary AI Platform with Apical

NextWave Ventures, a venture-capital firm specializing in the commercialization of early-stage technologies, announced the formation of Apical Technology, a portfolio of artificial intelligence (AI) technologies.

Advanced by Ron St. Onge and Jim St. Onge, Apical is the result of nearly 20 years of research in optimizing AI-based solutions to non-linear systems. With significant real-world predictive results in market behavior, NextWave Ventures identified an initial opportunity to use the Apical AI-based software platform for equities trading. Apical’s strategies utilize AI and machine learning to generate superior risk-adjusted returns that are non-correlated to both major asset classes and other hedge fund strategies.

“Apical is the result of an incredible body of academic research that Ron and Jim refocused to create AI systems that are currently being applied to machine-guided investment strategies in global equity markets,” said Alan Simoni, Chief Investment officer at Apical Technology. “Collectively, Ron and Jim bring nearly 50 years of experience in the development of sophisticated trading technologies for various institutional investors to the partnership with NextWave. We are very excited about taking this technology to the next level with operational and financial support from NextWave Ventures.”

Apical Technology is a machine learning system based on a combination of information theory with modified off-the-shelf AI techniques. The system is specifically designed to work with high-volume, noisy financial market data while efficiently mining very large data sets.

“Taking a process that has traditionally been highly manual, emotional, or even linear and leveraging an AI core to build in that layer of intelligent systematic management is something that few technologies can accomplish,” said Jeff Slosar, Managing partner of NextWave Ventures. “Our strategic investment in Apical’s technologies demonstrates our long-term commitment and belief in what they have designed. We are delighted to be working with Alan, Ron, and Jim to bring their impressive technologies to life, giving future investors another way to maximize their investments.”

Apical will establish various funds that trade under different strategies using Apical AI as the core trading mechanism. As the lead investor, NextWave’s limited partners will also be given an opportunity to directly invest in the various funds launched. NextWave will manage day-to-day operations as Apical continues to position itself for growth.