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Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while the ROCm 6 open software stack introduces new features supporting Large Language Models (LLMs). Additionally, the Ryzen 8040 Series processors come equipped with Ryzen AI capabilities.
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Venture Capital: Singapore VC Fund Scoops Up $250 Million
Founded in March 2018, EV Growth is a joint venture between East Ventures, SMDV, and Yahoo Japan Capital. The fund announced Monday the raising of an additional US$ 50 million in its first fund.
The fresh raising brings the VC fund’s subscription to its hard cap size of US$ 250 million.
Alternative Investments: Stellar Returns from Healthcare and Biotech IPOs in 2019
Stellar Returns came from Healthcare and Biopharma IPOs in 2019. Hedge funds that invested in these companies made solid gains.
The DailyAlts Playbook – January 2, 2020
Each morning, we take a quick dive into the major stories shaping the universe of alternative investments. Please signup for the daily letter and send it along to others seeking insight and education in the alternatives industry.
Hedge Fund Greenlight Finishes 2019 Up 13.8%
Hedge fund Greenlight Capital finished 2019 up 13.8% after a small dip in December. The iconic value-oriented fund saw a 0.3% decline last month to finish off the year, according to Bloomberg. As we reported last month, the fund also saw a 1.8% decline in November.
Bernhard Capital Partners to Invest in Ascension Wastewater Treatment
Bernhard Capital Partners will invest in Ascension Wastewater Treatment, the largest private sewer utility operator in Louisiana. The private equity firm specializes in services and infrastructure.
Alternative Investments: Breaking Down the BlackRock 2020 Forecast
Alternative investment manager Blackrock (BLK) has issued the Blackrock 2020 forecast. The firm believes that growth will pick up next year with little risk of inflation. They also warn that the years of friendly central bank policies could be behind us and that inflation risks are underpriced.
Hedge Funds: Korea’s Lime Asset Management in Fresh Trouble With Regulators
Korea’s largest hedge fund is under probe for involvement in an alleged US Ponzi scheme Lime Asset Management, the large Korean hedge fund, is accused of continuing to market a trade finance fund when it knew the investments could land in trouble. Lime had raised client funds amounting to 243.6 billion won and a loan…
FinTech: Grab and Singtel in 60:40 JV to Launch a Digital Bank in Singapore
A ride-hailing service and leading telecom group will team up to launch a digital bank.
Grab and Singtel have jointly bid for a digital full bank license to be issued by the Monetary Authority of Singapore (MAS). The consortium (Grab 60%, Singtel 40%) will bring banking services to Singapore communities that are under- or unbanked. The proposed bank will be able to serve retail customers, lend money, and take deposits, along with other online banking functions.
FinTech: TransferWise Now Transfers $5.25 Billion Per Month
TransferWise Now Transfers $5.25 Billion Per Month. The upstart fintech claims it does so saving people and businesses $4.5 million per day.
What’s more, the TransferWise customer community is now 6 million strong. The fund transfer specialist aims to facilitate money transfers to foreign destinations at rates cheaper than banks.
The next agenda for TransferWise is to effect remittances instantly.
Digital Assets: Gear Up for New Threats From “Financially Motivated” Bad Actors, Says Kaspersky
According to leading cybersecurity firm Kaspersky Lab, hackers and cybersecurity criminals will up their game in 2020. Drawing on their experience through 2019, Kaspersky researchers have identified the key areas that these cyber attackers will target in 2020 and beyond. As 2020 looms, prepare to face cybersecurity threat actors with dollar signs in their eyes.
Alternative Investments: Hindsight in 2020 – Killer Trades That Might Have Been
The trades we would have taken in the decade gone by – if only we’d known
Secure in our present-day knowledge and risk-free comfort, let’s indulge in some armchair trading through the 2010s.
Private Equity, Venture Capital Investor Alan Patricof Bundles for Joe Biden
Alan Patricof, the founder of Apax Partners, sits among a very powerful list of bundlers for potential Democratic nominee Joe Biden. Over the weekend, Biden released the list of bundlers, who will raise at least $25,000 on his campaign. Patricof is also the founder and managing director of Greycroft, which has $1 billion under management.
Alternative Investments: IRS Releases Regulations for Opportunity Zones
IRS Releases Regulations for Opportunity Zones. The U.S. Department of Treasury released the final Opportunity Zone Treasury Regulations last week. According to Russell J. Stein at Partridge Snow & Hahn LLP, the much-anticipated regulations are extensive and provide clarity into the working of the Opportunity Zone tax rules.
Digital Assets: Millennials Trust Bitcoin Over Berkshire Hathaway
Millennial investors trust Bitcoin more than Berkshire Hathaway, according to a new report from Charles Schwab. The investment bank examined self-directed portfolios of millennial investors. It found that the majority of younger investors had more exposure to the world’s largest cryptocurrency than it did to Warren Buffett’s conglomerate.
Former Hedge Fund Manager, Coal Investor Seeks Democratic Nomination
Tom Steyer used to run a hedge fund. Now, he wants to be the President of the United States. His campaign strategy, however, is quite unprecedented. Both Steyer and Michael Bloomberg are buying up television advertising space at a breakneck pace.
EY: Private Equity Firms Really Loved Germany in 2019
Private equity investment in Germany topped out at about 32 billion euros, according to EY. That figure represents a year-over-year increase of about 80%, the firm said this week. Private equity investment in Europe’s largest economy hit 17.9 billion euros in 2018.
Digital Assets: James Altucher’s 2020 Bitcoin Prediction Will Miss by More Than $992,000
James Altucher is best known for his hedge fund, his Choose Yourself messaging, his iconic hair, and an ultra-bullish stance on Bitcoin. The former hedge fund manager’s crypto-newsletter advertisements also followed readers around the internet.
Digital Assets: Crypto Hedge Funds Shuttered in 2019 At a Stunning Pace
Crypto hedge funds shuttered at a rather alarming click in 2019. According to Crypto Fund Research, 70 such funds had closed by early December. That means there was still time for another few of these funds to close as the month comes to a close.
Alternative Investments: Decline in IPOs Worldwide as Investors Prefer Private Markets
There is a striking decline in the number and value of Initial Public Offerings (IPOs) to raise capital across the globe. Macro-economic and political factors such as trade wars, Brexit, and growth fears played a role in this trend, says the FT.
But there is also concern that increasingly, both issuers and investors may be gravitating to private markets.
Liquid Alternatives: Franklin Templeton Launches FLSP, its First Alternative ETF
Franklin Templeton added a new active fund to its ETF range. The Franklin Liberty Systematic Style Premia ETF (FLSP) is an alternative ETF that is actively risk-managed, seeking a target annualized volatility of 8 percent, and targets four style factors: quality, value, momentum and carry.
The FLSP fund seeks to deliver absolute return (positive returns in rising or falling markets) by employing a multi-asset, long/short strategy.
Hedge Funds: Investors Looking to Bail? The SS&C GlobeOp Forward Redemption Indicator is at a 12-Month High
The SS&C GlobeOp Forward Redemption Indicator for December is up marginally from last month.
Simply put, the SS&C GlobeOp Forward Redemption Indicator shows how much investors are looking to bail from their hedge fund investments. For December 2019, the indicator read 4.95%, up from 4.81% in November.
The indicator represents the sum of forward redemption notices received from investors in hedge funds administered by SS&C GlobeOp on the SS&C GlobeOp platform, divided by the Assets under Administration (AuA) at the beginning of the month for SS&C GlobeOp fund administration clients on the SS&C GlobeOp platform.
Digital Assets: Singapore’s MXC Exchange to Launch Leveraged Crypto ETFs
Singapore’s MXC Exchange to Launch Leveraged Crypto ETFs. It announced December 28 the launch of its range of leveraged ETFs based on cryptocurrencies BTC, ETH and EOS. These ETFs are available for both long and short plays. The ETF products will “help users magnify their returns.”
Venture Capital: Octopus Sells Stake in Zynstra for £100 Million
Octopus Ventures, a VC firm based in London, has sold its stake in virtualization tech firm Zynstra. Reports state that the deal was worth £100 million and the buyer is NCR.
Venture Capital: WeWork Golden Parachutes Are Very, Very Golden for Executives
The WeWork golden parachutes emerged from company documents over the weekend. Earlier this fall, the real estate firm received a bailout from SoftBank. The Financial Times recently gained access to company documents on negotiated exit packages before the cash infusion.