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Steven Cohen invests in Canadian fintech startup

Steve Cohen has made an undisclosed investment in Toronto-based financial technology company Street Contxt.

Street Contxt, which assists brokerages, independent research providers and asset managers in distributing, managing and unbundling value research, said April 5 that its latest round of fundraising generated $15 million to date. The round includes contributions from Cohen's Point72 Ventures, Joe Lonsdale's 8VC and Palm Drive Capital, a New York-based venture capital company.

Cohen's investment comes at a challenging time for investment research providers. In 2016, the number of analysts at the top 12 investment banks in the world dropped below 6,000, the Financial Times reported, citing data from Coalition. By comparison, there were more than 6,600 analysts in 2012 when Coalition began tracking the figures.

Street Contxt CEO Blair Livingston is encouraged by the investments from Cohen and the other participants of the consortium as a deadline for the implementation of MiFID II regulations looms, according to a company news release.

Point72 Ventures is the early-stage venture capital arm of Point72 Asset Management LP.