Thomas Rice, an Australian hedge fund manager, has teamed up with Grok Ventures portfolio manager Armina “Arms” Rosenberg, to launch Minotaur Capital Management – a new Sydney-based long-short global equity investment manager, according to a report by the Australian Financial Review.

The report cites sources as saying that their first fund will be far from ordinary, built using artificial intelligence at its core to help uncover winning ideas and manage risk. The firm intends to use AI at the idea funnel stage – filtering the universe, passing ideas through an initial screener (a task generally undertaken by a junior analyst) and using large language models like ChatGPT to track news articles and generate ideas, according to the report.

The report also notes that the fund intends to be sector-agnostic.