PANews reported on April 25th that, according to Business Insider, Yiming Zhang, a former senior quantitative analyst at Jump Trading, has received seed funding from hedge fund giant Millennium Management after leaving the company and will work as an external manager. Zhang worked at Jump for 17 years and was a key member of its core strategy department. His new role, subject to a non-compete clause, is expected to officially begin after the non-compete period ends. Industry insiders point out that Millennium Management has been expanding its reach by providing funding to external teams in recent years, becoming one of the important "incubators" in the hedge fund industry.