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Hunterbrook Global has been valued at $100mn after a recent fundraising, as the novel US newsroom-cum-hedge fund revealed to investors that it planned to move into litigation.
The new capital, raised by the parent company that oversees the hedge fund Hunterbrook Capital and the news outlet Hunterbrook Media, has come from investors, including the Ford Foundation and venture capital firm Floating Point, according to a person familiar with the fundraise.
Hunterbrook was launched in 2023 by investor Nathaniel Brooks Horwitz and writer Sam Koppelman, creating a newsroom that would gather exclusive information and a hedge fund that would trade off it.
The recent fundraise doubled Hunterbrook’s valuation from its 2023 seed round and is separate from the $100mn raised last year for the investment fund run by Hunterbrook Capital.
The new funds will be invested in building its newsroom further, according to a person close to the situation. Hunterbrook declined to comment.
Hunterbrook also revealed to investors in a letter that it planned to further exploit its news gathering by launching a litigation business that would partner with law firms on cases enabled by the newsroom’s reporting. The business is being led by led by media lawyer and litigator Joe Slaughter.
The fund, which started trading in April 2024, gets exclusive early access to the newsroom’s potentially market-moving stories, enabling it to trade on the scoops. Meanwhile, profits made from the fund are ploughed back into the newsroom to continue to build its expertise.
Hunterbrook initially envisaged that it would short stocks in instances where its newsroom exposed scandals, but this approach has been sidelined in an “irascible bull market”, according to the investor letter.
The letter also details how Hunterbrook is generating a sizeable portion of its returns by taking long positions in businesses its journalists have investigated and found to be sound.
Hunterbrook’s fund generated a 31 per cent return in the second quarter of 2025 and a 16 per cent return year to date.
“This won’t be the norm, though we’ll always aspire to it. But it also wasn’t a normal quarter to achieve these results, either,” the letter says. “The fund navigated the crash in April, the violent recovery into May, its unlikely continuation to new all-time highs in June, and kaleidoscopic skirmishes with misinformation along the way.”
The fund is closed to new investors but existing partners, including Horwitz and Koppelman, recently added to their holdings, according to the letter.
Hunterbrook’s investments in the period have included Core Scientific, a data centre infrastructure provider that is being acquired by CoreWeave for $9bn, as well as Evolv Technologies, Carpenter Technology and Rocket Companies.
The letter also pointed to one “untradable scoop”: on Saturday June 21, when markets were closed, Hunterbrook Media broke the news that B-2 stealth bombers had launched from an Air Force base in Missouri, indicating the US would imminently join Israel’s bombardment of Iran.
https://www.ft.com/content/8531db94-907d-4361-a1d8-a70ec1eef1bb
