New York | A US hedge fund has raised $US100 million ($153.5 million) to make trades based on articles by its affiliated newsroom, launching a novel experiment in funding investigative reporting as the media industry suffers a fresh round of lay-offs.

The business is an effort to pair the sort of investigative journalism typically done by newsrooms with a long-short hedge fund. The fund, Hunterbrook Capital, places trades based on scoops uncovered by reporters at the newsroom, Hunterbrook Media, which is separated by a layer of compliance.

Financial Times