SALT LAKE CITY, Sept. 5, 2019 /PRNewswire/ -- Quansight has announced the launch of Quansight Initiate, an early-stage investment fund that will predominantly be making investments in Utah and Texas. Quansight Initiate will invest in startups across industries that leverage the power of open-source communities and significantly rely on data engineering, data science, machine learning, or artificial intelligence. Bradden Blair, former Professor of Operations and Information Systems, and former Director of the MS Information Systems and MS in Business Analytics programs at the University of Utah has also been announced as the fund's managing partner.
"In line with Quansight's vision of strengthening the open-source ecosystem, Quansight Initiate will invest in companies that use open-source technologies as the core of their products or services," said Travis Oliphant CEO and co-founder of Quansight. "We believe entrepreneurs who cooperate with open-source communities will have an advantage over those who either just use open source software or rely only on proprietary solutions."
"Utah's Silicon Slopes have emerged as one of the technology hotbeds in the US and that makes Utah a terrific market for us,'' Blair added. "There is both a healthy startup community and a strong pool of technology and analytics talent." The fund is now actively pursuing investments in Utah and plans a physical office in the next year to accompany the Austin, TX location.
The fund was launched with investments in Anaconda, AutoAuto, FairOSS, OpenTeams, SaveDay, Tenavox, and Vertalo. It is targeted to be $20 million and Blair expects to be fully funded over the next 9 months. Additional information can be found at https://qi.ventures
Quansight is led by Travis Oliphant, CEO, who is a founder and director of Anaconda and a founder of NumFOCUS. Oliphant has over 20 years' experience in open-source communities having created SciPy, NumPy, and Numba and contributed to many other projects like Juptyer, Conda, Bokeh, Dask, and XND. Oliphant also has strong ties to Utah. Born and raised in Taylorsville, he grew the SciPy community and wrote NumPy while on the faculty of Brigham Young University's College of Engineering.
Safe Harbor Statement
This press release contains forward-looking statements regarding, among other things, Quansight Initiate's investment activities and the potential benefits of and return on its investments within the meaning of the Private Securities Litigation Reform Act of 1995. The achievement or success of the matters covered in such forward-looking statements involves risks, uncertainties and assumptions, including risks that may be discussed in Quansight Initiate's filings with the Securities and Exchange Commission. Quansight Initiate undertakes no intention or obligation to update or revise any forward-looking statements.