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From the Opalesque team:

Paris-based Algodeal, a quant platform founded by IT professionals Benjamin Filippi (formerly at Lehman) and Jean-Christophe Allemand (formerly at Newedge), will launch its first fund towards the end of 2Q10, with financial backing from London-based, family office Corniche Group The fund will begin focusing on futures and equities and the team has told Opalesque that the goal is to manage 50-100 strategies on the platform over the next two years - encompassing trading styles such as stat arb and high frequency.

The pair launched Algodeal the week of February 25, 2010. The idea behind the platform is based on crowd sourcing, the same internet-based phenomenon that powers sites like Wikipedia and Youtube (for more information on crowd sourcing see: Source)

"We aim at finding and funding the best Quants out there by removing all major barriers out of their way. Quants can thus concentrate on designing the best strategies on our platform for free. Once they are ready, they can enter a fixed term agreement with Algodeal to fund their strategy and execute it for real. Both of us get their share of profits, the rest going back to investors." Explains the firm's website.

As of March 15th, less than a month af......................

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