A former Goldman Sachs investment banker, a quant researcher and two MIT Ph.D.s got together in May to apply the most advanced AI technology to the cutthroat and fantastically lucrative world of hedge funds.
Their startup, called Linq, helps hedge funds speed up their research into thousands of listed companies worldwide. Firms with a combined assets under management of more than $100 billion are already using Linq’s AI software, according to the startup, with over 400 investors on the waitlist.
Linq is led by CEO Chanyeol Choi, who holds a Ph.D. in electrical engineering and computer science from MIT and made the Forbes 30 Under 30 list in 2021. The other MIT Ph.D. is Subeen Pang. Hojun Choi, who made the Forbes 30 Under 30 Asia list last year, is the former Goldman banker and Jin Kim is the quant researcher.
“We have top-tier talent from both finance and AI, working on a narrowly defined problem,” says Chanyeol in a video interview together with Hojun (no relation). “Our in-house analysts from Goldman Sachs work seamlessly with AI engineers from MIT and Harvard to identify and automate workflows and processes around specific tasks.”
Linq, based in South Korea and the U.S., graduated from the Techstars accelerator in 2023. In June, it raised a $6.6 million seed funding round led by Atinum, whose portfolio includes online travel company Klook and crypto exchange operator Dunamu, and InterVest, a backer of “Baby Shark” creator Pinkfong and women’s fashion unicorn Ably. The round was joined by Yellowdog, a venture capital firm launched by Daum Communications founder Lee Jae-woong, and the VC arms of billionaire Kim Beom-su’s internet conglomerate Kakao and billionaire Kwon Hyuk-bin’s game giant Smilegate.
Linq’s AI software automates time-consuming equity research tasks, such as scanning for company announcements and news, building financial models and summarizing earnings reports and call transcripts. The startup works closely with each hedge fund to provide a “hyper specialized solution,” says Hojun.
Other companies that offer AI tools for equity research include SoftBank Vision Fund 2-backed AlphaSense, Bloomberg and S&P Global. Chanyeol says Linq differentiates itself by providing a wider coverage of data. “Existing market intelligence platforms are U.S.-centric, meaning any region outside of the U.S. is sparsely covered in terms of public filings, transcripts and local news,” he notes. “We leverage the power of AI to gather local intelligence at a global scale, which is especially important given how interconnected the global value chain is today.”
Another is its focus on personalization, adds Hojun. “Our competitors are traditional data providers that serve a wide array of customers,” he says. “On the contrary, from day one, Linq focused on building bespoke AI for hedge funds. There are myriad ways of making money in the stock market, which means each and every hedge fund requires a customized AI solution befitting the specific investment strategy of the portfolio manager.”
