Each day, DailyAlts tracks major developments across the alternative investment world. Our content is procured from primary contacts in the industry and secondary sources across the web. Our goal is to give readers the most up-to-date news and engaging experience to open new doors and areas of knowledge. Our stories cover nine separate verticals of the alternative investment industry.
TD Asset Management announced Tuesday the launch of three new ESG Equity ETFs to cater to investors looking for exposure to equity market indexes and companies with an ESG edge. The ETFs have a regional focus and track Canadian, U.S. and International equity indices respectively.
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Speaking Tuesday on CNBC’s Squawk Box, Mike Novogratz, CEO of Galaxy Digital, said large investors appeared to be switching their gold holdings to bitcoin, judging from the outflows seen recently in the yellow metal. Meanwhile, the leading cryptocurrency touched an all time high on Tuesday.
Voi Technology’s haul of $160 million is a mix of debt and equity in a Series C round led by The Raine Group, with participation by existing investors such as VNV Global, Balderton, and Creandum. Top entrepreneurs and executives from Amazon, Delivery Hero, iZettle, Klarna, Kry/Livi, Nordic Ninja, and Zillow also participated in this latest funding round.
In an article in a newly released book from the central government explaining the country’s economic priorities and development plan for 2035, Guo warned of a disturbance in global financial markets if the United States stepped up its strategic containment and rivalry with China. Given this circumstance, China is taking steps to address financial vulnerabilities that could stem from fintech giants such as the Ant Group.
Scale AI, a startup that labels data for customers building machine learning algorithms, tipped the scales with a $3.5 billion post-money valuation when it raised $155 million in a Series D round led by Tiger Global. Olive AI Inc, which provides an AI workforce platform to the healthcare industry, closed a $225.5 million funding round, also led by Tiger Global, bringing its valuation to $1.5 billion.
Alternative Investments/Digital Assets: Bitcoin Scales New All Time High; Draws New 5- and 6-Figure Targets
Bitcoin momentously broke its 2017 high on Monday, recording a new one at $19,864.15. This had all the crypto evangelists out in full force, insisting the bull market in the leading crypto was now well and truly in place.
As expected, more lofty targets were trotted out – one at $50,000, the other at $500,000.
Curio Wellness, a cGMP certified medical cannabis and wellness company, announced today the formation of a $30 million investment fund to provide start-up capital for upto 50 minority entrepreneurs.
Raytheon Intelligence & Space, a unit of Raytheon Technologies (NYSE: RTX), will collaborate with C3.ai, a provider of enterprise AI software, to develop AI solutions for aerospace and defense missions by the US Air Force and intelligence agencies.
The United Arab Emirates and Israel signed the Abraham Accords Peace Agreement: Treaty of Peace, Diplomatic Relations, and Full Normalisation in September. The momentous agreement signaled a new era of peace and cooperation between the UAE and Israel. On Monday, there was news of another landmark agreement, this time between DIFC FinTech Hive, the largest financial technology hub in the Middle East, Africa, and South Asia (MEASA) region, part of Dubai International Financial Centre (DIFC) and Israel’s FinTech-Aviv.
Bitcoin mining companies Riot Blockchain (NASDAQ: RIOT), Marathon Patent Group (NASDAQ: MARA) and Canaan Inc ADR (NASDAQ: CAN) all posted massive gains during the month of November following bitcoin’s rise to a new all-time high (ATH) on Monday.
Google-owned (NASDAQ: GOOGL) DeepMind, a London-based AI lab, announced that its AlphaFold program had solved the 50-year-old protein folding issue and is capable of predicting the shape of many proteins.
Last week, a filing by Guggenheim Funds said its “Guggenheim Macro Opportunities Fund may seek investment exposure to bitcoin indirectly through investing up to 10% of its net asset value in Grayscale Bitcoin Trust, a privately offered investment vehicle that invests in bitcoin.”
At last count in August, Empower Education Online (EEO)’s ClassIn had 60,000 schools and institutional clients from 35 countries and regions across the globe. It services about 20 million individuals from 150 countries each month. The edtech giant raised $265 million in a Series C round of financing led by Hillhouse Capital’s venture capital unit GL Ventures.
The Life + Liberty Freedom 100 Emerging Markets index and ETF (BATS: FRDM) is an ETF with a conscience. It’s investing proposition is based upon humanitarian factors such as freedom of speech, the battle against human trafficking, and international trade access. The ETF allows investors exposure to the emerging markets with the exclusion of China and Russia.
Accelerate Financial Technologies launched its OneChoice Alternative Model Portfolio in September. Aimed at hard-pressed advisors and portfolio managers, the strategy offered a quick and easy way to put together a diversified alternative sleeve within a client’s portfolio. At the time the firm indicated it may follow through with the OneChoice Alternative Model Portfolio in an ETF wrapper. That ETF is making its debut now.
SBI Group (TYO: 8473) is launching a crypto lending service through SBI VC Trade, its crypto-focused exchange subsidiary. SBI said it will initially allow customers to tender only bitcoin (BTC), but intended to follow up with XRP and ETH lending too.
Hippo, the home insurance unicorn, announced Tuesday an investment of $350 million from Mitsui Sumitomo Insurance Company, Limited, a subsidiary of MS&AD Insurance Group Holdings, Inc. In July, Hippo raised $150 million in a Series E round worth $150 million that valued it at $1.5 billion, post-money.
Based in Luxembourg, Astanor Ventures combines capital, technology, and sector expertise to invest in businesses that build regenerative, scalable, and nourishing food solutions. Using this philosophy, Astanor has invested in more than 20 startups. It is now raising $325 million to invest in food and agriculture technology companies across Europe and North America.
Fish is a major export for Norway, earning a revenue of $11.3 billion in 2019, as per the Norwegian Seafood Council. Norwegian farmers are increasingly using artificial intelligence (AI) in aquaculture, the farming of fish and other marine organisms. The Norwegian AI Lab has developed AI models that can optimize various operations of this business.
According to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, home prices surged 7% annually in September, up from a 5.8% annual gain in August. For perspective, this gain is the largest seen since September 2014. Moreover, home prices are now ruling 23% higher than their previous peak in 2006.
Both HSBC USA, a part of the HSBC Group (NYSE: HSBC), and Western Union (NYSE: WU) reported rapid growth in the usage of services such as mobile banking, digital transactions, and app downloads during the pandemic afflicted quarters. Encouraged, the finserve giants launched global, borderless real-time payments.
Toast, which makes software for restaurants, has rebounded from the pandemic like a phoenix. Consider this: In February, shortly before the pandemic, the start-up raised $ 400 million at a valuation of $ 4.9 billion. After the virus, in April, Toast faced up to the economic devastation and cut its workforce by 50% through layoffs and furloughs. It also was forced to cut executive pay, freeze hiring, and halt bonuses. However, the startup’s software for takeout orders enabled in-house dining restaurants to pivot to the alternative mode of service. Result: business is good again.
Pactum helps its customers unlock value by automatically negotiating contracts on a massive scale. Think Walmart (NYSE: WMT). It’s the largest retailer in the world and has many thousands of agreements that should be optimally negotiated for multiple parameters.