Excited by the challenge of providing financial counselors with access to alternative investment strategies, Marco Bitran started his own company, AI Exchange, in Boston in 2011. Bitran raised $1.5 million in venture capital from top-tier venture firms including General Catalyst, Founder Collective, LaunchCapital and Common Angels, in order to start a separately managed hedge fund system. He designed the necessary technology and recruited a sales staff, including a senior executive from Charles Schwab & Co., Inc.
Innovation has played a large role in Marco Bitran’s career. In his first job out of college, he developed voice processing coding at Qualcomm for the emerging cellular phone industry. As founder and Chief Operating Officer of Digital Media Entertainment, Inc., Bitran led a team of students from Stanford University in implementing premium radio and music streaming for medium-sized websites.
In 1999, he joined Morgan Stanley, where he analyzed and advised technology companies regarding financial transactions. Marco Bitran was on one of the first analyst teams to predict that the telecommunications industry was to experience a decline. In a fluctuating market, Bitran served on teams that advised on over $50 million in initial public offerings. He was also part of a team that consulted and advised CEOs of some of the larger technology companies in the Bay Area.
After earning his Master’s in Business Administration from Harvard Business School, Bitran signed on with Wellington Management Company, which specializes in the capital goods and infrastructure global sectors. He assumed responsibility for a $1 billion sleeve of a large global portfolio, and helped recommend stocks for a small cap technology fund.
Marco Bitran then set up Clearstream Investments, LLC, also known as GMB Capital Management, LLC. He launched an exchange-traded fund that was eventually worth $550 million and was based on a model developed by Massachusetts Institute of Technology (MIT) Professor Gabriel R. Bitran and Shioulin Sam, an MIT graduate. Five years later, Bitran founded AI Exchange.
Marco Bitran gives regularly to various causes, including the Combined Jewish Philanthropies of Boston, the Crepaldi Bitran Charitable Foundation, animal shelters, and organizations that assist under-privileged children growing up in the Boston area. He is a member of three honor societies at MIT, fluent in Portuguese, and conversant in Spanish. He is also a licensed private pilot and enjoys photography, travel, and hiking. Bitran is married with two children.
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