San Francisco-based Numerai, a hedge fund combining data science, decentralized finance, and cryptocurrency incentives, has raised $30 million in a Series C round led by top university endowments. This funding brings the company’s valuation to $500 million, five times its 2023 valuation. J.P. Morgan Asset Management has committed up to $500 million in Numerai’s hedge fund capacity for the initiative. This investment will enable Numerai to scale its AI-driven strategies and manage nearly a billion dollars in assets under management (AUM). Existing investors, including Union Square Ventures, Shine Capital, and macro investor Paul Tudor Jones, have also participated.