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NextWave Ventures Backs New AI Startup, Apical Technology

Carlsbad-based NextWave Ventures, a venture capital investor which focuses on commercializing early stage technology, said it has launched a new artificial intelligence start, Apical Technology. Size of the investment in Apical Technology was not announced. According to NextWave, Apical Technology is developing a software platform which uses AI for equities trading. The startup was founded by Ron St. Onge and Jim St. Onge. As part of the investment, NextWave Ventures said that hedge fund manager Alan Simoni has joined NextWave Ventures, and will also become Chief Investment Officer of Apical Technology. Simoni was previously Managing Partner of Halcyon Capital Partners.