Louis Bacon's $9bn (€9.63bn) hedge fund Moore Capital Management has joined a small group of investors backing new economy incubator company Antfactory to the tune of $150m.

Bacon's decision marks him out from the crowd. It reinforces the popular image of him as 'king of macro' and follows a decision by rival George Soros of Quantum to refocus on less risky investments and, in particular, to treat e-commerce businesses with caution. Moreover, Bacon has put money into the new technology investment company just as Jellyworks, the internet investment fund, announced that it may go private because of lack of stockmarket support.