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The Venture Codex

Two Sigma

100 Avenue of the Americas, New York, NY, 10013, United States

Overview

Two Sigma was co-founded in 2001 by John Overdeck and David Siegel in NYC. The technology-driven investment team streamlines the use of machine learning, distributed computing and research to guide its endeavors. It develops systematic tools using engineering and data science to make investment decisions. Some of its clients include: government agencies, educational institutes, non-profits and pension funds.

Total investments
19
Lead investments
1
Investments · 12mo
1
Active investors
10

Sector focus

  • Big Data
  • Machine Learning
  • Software
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Investment portfolio

  • Etched.ai

    Participated · Series B · Dec 2025

    Etched.ai develops rack-scale inference systems and broader frontier inference infrastructure. Since founding, the company has grown to more than 400 employees, hiring over 200 people after its Series B late last year. It has secured more than $1 billion in customer orders and established deep manufacturing and supply-chain partnerships, including opening a factory in Taiwan. Etched is currently validating its first rack-scale inference product with customers. The company’s near-term plans emphasize production, manufacturing scale-up, and deployment of its inference systems, supported by cumulative funding of $800 million.

  • VIZZU

    Participated · Equity · Jun 2024

    Vizzu builds an animated data storytelling tool that turns users' data into cinematic, animated narratives to broaden access to advanced data visualization. The company has beta-launched a SaaS platform that embeds its animated charting engine, previously available only to developers and data scientists. Vizzu has expanded its team to 15 technical and product talents following the funding. The startup plans to refine the product based on user feedback and to embed AI-enabled functions to further democratise data storytelling. The company raised $1.5 million to support the product rollout and continued development.

  • Crossover Markets Group

    Participated · Series A · Jun 2024

    Crossover Markets builds and operates CROSSx, one of the industry’s first execution-only electronic communication networks (ECNs) for spot cryptocurrency trading. The platform offers single-digit-microsecond matching, anonymous and disclosed bilateral liquidity pools, advanced order types and FIX connectivity designed for high-frequency and algorithmic strategies. Since launch, CROSSx has processed more than $50 billion in notional volume across 12 million trades and now supports nearly 100 live institutional participants. Headquartered in Wilmington, Delaware, the company positions itself as a neutral execution layer that eliminates conflicts of interest common on centralized exchanges. With its new capital, Crossover plans to enhance the CROSSx technology stack, expand global operations and deepen integrations with institutional partners such as Tradeweb. Management believes the collaboration with Tradeweb will extend the firm’s global distribution and embed traditional electronic-trading standards into digital assets. The firm’s growth strategy centers on servicing the rapidly converging traditional-finance and crypto markets while maintaining best-in-class speed, transparency and execution quality.

  • SDF

    Participated · Seed · Jun 2024

    SDF is building a next-generation developer platform for data transformation, positioned as an alternative to tools like dbt. The product is free to use, built on an open-source core, and was announced in Public Beta. SDF provides a CLI and an accompanying Slack community to onboard users. Technically, the company extracts SQL compilers from cloud providers and claims deep understanding of proprietary SQL dialects such as Snowflake, with the ability to ultimately execute them. The project traces its origins to work at Meta and was started by four founders focused on SQL. SDF raised $9M from RTP Global, Two Sigma, and Founders Co-op.

  • Distributional

    Participated · Seed · Dec 2023

    Distributional provides an AI testing platform that automatically creates statistical tests for models and applications, organizes results in a collaborative dashboard, and enables test repositories, triage, and recalibration. The product can be deployed on-premises or used via a managed plan and integrates with common alerting and database tools. Founder Scott Clark, formerly Intel’s GM of AI software and co‑founder of SigOpt, built the company to address non‑determinism and observability challenges he encountered in enterprise AI. Distributional emphasizes a “white glove” onboarding experience, offering installation, integration, and paid troubleshooting to enterprise clients. The company is on the cusp of commercializing its product suite and plans to expand its technical team, prioritizing UI and AI research engineering hires. Distributional is San Francisco–based and has secured recent funding to support its first wave of enterprise deployments and growth. Distributional is developing a platform for AI testing and evaluation that aims to detect and diagnose AI "harm" from large language models and other model types in a pre-production sandbox. The product includes an extensible testing framework to continuously test stability and robustness, a configurable dashboard to visualize results, and an intelligent test suite to design and prioritize tests. Founder Scott Clark — who co-founded SigOpt and later oversaw AI teams at Intel — launched the company to scale and standardize AI testing across enterprise use cases. Distributional is co-designing the product with enterprise partners and emphasizes meeting data privacy, scalability, and complexity requirements for large and regulated organizations. The startup faces established competitors (Kolena, Prolific, Giskard, Patronus) and built-in evaluation tools from cloud providers like Google Cloud, AWS, and Azure. It is pre-revenue and pre-launch, planning to start generating revenue next year once the platform reaches general availability and design partners convert to paid customers.

Team

  • John Overdeck

    Founder

  • Mark Pickard

    Co-Founder

  • Jean-Christophe Petkovich

    Engineering Manager, Systematic Macro Engineering Team

    LinkedIn
  • Kaustuv Dasgupta

    Head of Trading, EDGE

    LinkedIn