News
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.
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Evidation Health’s Achievement platform collects everyday health data for use in innovative research and health platforms. Giving due emphasis to user privacy and controlled, permissioned health data, the platform gathers health information on scale and with speed. The company just raised $45 million in a Series D round.
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Artificial Intelligence: A UVC Robot Disinfects 4,000 Sq Ft Food Bank in 30 Minutes
MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL), Ava Robotics, and the Greater Boston Food Bank (GBFB) collaborated on a robotic solution to the problem of disinfecting a large area such as a food bank. They designed a robot that used UVC light to exterminate viruses and bacteria on surfaces and aerosols.
Alternative Investments: TrueMark Investments Launches A Structured Outcome ETF That Tracks the S&P 500 Index
TrueMark Investments has launched the TrueShares Structured Outcome (July) ETF (NYSEAMERICAN: JULZ) that offers investors exposure to the S&P 500 price index. The ETF is a “structured outcome” product, the first of its kind from TrueMark’s structured outcome product suite. The ETF has an inbuilt downside buffer, with uncapped upside participation.
Digital Assets: Crypto Gathers Pace in India After Top Court Decision
The Supreme Court of India recently struck down a circular issued by the Reserve Bank of India that barred banks from serving crypto businesses such as traders, exchanges, or others. The decision by the Indian top court has been a shot in the arm for the prospects of crypto businesses in India. Crypto-related apps, startups, and exchanges are blossoming in the country.
FinTech: Branchless Bank Chime Offers A Credit Card That Doesn’t Allow You To Get Into Debt
A study by the U.S. Fed found that around half of all non-cash transactions in the U.S. in 2018 were conducted using a debit card. Neo-bank Chime found from its own survey that younger customers tend to prefer to use debit cards. Nearly 67% of the survey respondents from the demographic class known as millennials said debit cards are better for their security and inbuilt cap on overspending. These customers did not want to be saddled with debts that they would struggle to repay. Chime has now introduced the Chime Credit Builder Visa Credit Card, a kind of hybrid between a credit and debit card.
Hedge Funds Back on Top of Asset Class Demand
UNPRECEDENTED MARKETS SPARK HEDGE FUND APPEAL. Hedge funds are spiraling higher in demand amid the extent of today’s turbulence across U.S. and global markets. According to Credit Suisse, net demand for Hedge Funds is at 32 percent — the highest it has been in five years. Joseph Gasparro at Credit Suisse states that “given manager…
Private Equity: Apollo’s Tech Data Invests $750M to Fast-Track Digital Transformation
Private Equity: Apollo’s Tech Data Invests $750M to Fast-Track Digital Transformation PE giant Apollo Global Management has committed to funding a $750 million investment by Tech Data. Tech Data is a global technology company operating in over 100 countries with more than 125,000 customers. Apollo’s goal is to diversify its investments in the technology and…
Alternative Investments: Pacer’s New BioThreat ETF Launches With Ticker VIRS
Pacer ETFs announced the launch of a new ETF, that, in a sign of the times, invests in companies dealing with the fallout from natural or man-made biological threats. The Pacer BioThreat Strategy ETF (VIRS) will offer exposure to companies that will offer protection and relief in the event of a biothreat such as a pandemic.
Venture Capital: Summit Partners Wraps Up Two Mega Funds Totalling $2.2B
Investment firm Summit Partners announced Tuesday the first and final closings of two mega-funds, targeting startups in North America and Europe, and receiving commitments of $1 billion and €1.1 billion respectively. The firm also announced its appointment of Melanie Whelan, the former CEO of SoulCycle, as a managing director.
Artificial Intelligence: Machine Learning To Help in High-Throughput Germination Analysis
Seed germination and seedling establishment is a crucial process that influences the quality and yield of a crop. Seeds that germinate effectively and uniformly, and according to an expected germination rate, are likely to yield better crops. Therefore, tests monitor the germination progress to enable an assessment of the seed quality. Currently, crop breeders and agricultural laboratories conduct and record these tests manually – a time consuming and error-prone procedure. SeedGerm is a new, AI-enabled process that tests seed samples in a more efficient and low-cost manner.
Digital Assets: Australian Digital Exchange Ties Up with Australia Post For Bitcoin
According to a report, Australian digital exchange bitcoin.com.au has made it easy for Australians to purchase bitcoin. They can now place an order on the exchange but then walk across to an Australia Post office and pay for the ordered bitcoins. Bitcoin.com.au CEO Holger Arians believes that the arrangement will enhance the legitimacy and adoption of bitcoin in Australia.
Digital Assets: New $190M Bitcoin Fund Subscribed by 24 Unnamed Investors
The NYDIG Institutional Bitcoin Fund LP filed documents with the SEC to disclose its closure of a $190 million bitcoin fund. It said it has 24 investors but did not disclose their identities.
FinTech: WhatsApp Overcomes Antitrust Hurdle to its Brazilian Payment Service
CADE, Brazil’s antitrust regulator, has lifted its embargo on the payments service launched recently by WhatsApp, the messaging service owned by Facebook (NASDAQ: FB) in partnership with Brazilian card processor Cielo SA. It said that clarifications provided by the two companies appeared to confirm that their deal does not limit the entry of rivals nor does it reduce consumers’ choice.
Real Estate: Blackstone Eyes a New Approach to Real Estate Investment
Real estate investors at Blackstone Group are getting into show business. As one of the world’s leading investment management firms, Blackstone is looking to expand its portfolio in the real estate sector. Specifically, the company is keeping a close eye on production sites and warehouses used by companies like Netflix and Disney for production. One of…
Venture Capital: Banking-as-a-Service Provider solarisBank Scores $67.5M
solarisBank raised €60 million ($67.5 million) in a series C round led by HV Holtzbrinck Ventures, and supported by founding investor yabeo. New investors coming on board are Vulcan Capital, Samsung Catalyst Fund and Storm Ventures. Existing investors who participated included BBVA, SBI Group, ABN AMRO Ventures, Global Brain, Hegus and Lakestar.
Digital Assets: University of California San Francisco Pays $1.14M Ransom to Crypto Hackers
The University of California San Francisco said in a notice last Friday that it paid $1.14 million, a “portion” of a demanded ransom, to hackers who installed malware and encrypted its servers. The hacker attack, which the University describes as a “security incident,” took place in the UCSF School of Medicine’s IT environment on June 1.
FinTech: Facebook’s WhatsApp Talking to Brazilian Regulators for Rollback of Payments Suspension
Reuters reported Thursday that WhatsApp, the messaging service owned by Facebook Inc (NASDAQ: FB) is hoping that Brazil’s central bank may allow it to resume its newly-launched payments service in the country.
WhatsApp said that the central bank was working with Visa (NYSE: V) and Mastercard (NYSE: MA) to find a way to restore the service. Further, both Facebook and payments processor Cielo SA have made a representation to Cade, the Brazilian anti-trust regulator, to reverse its suspension
Liquid Alternatives: Waratah Launches Liquid Alternative Mutual Fund With ESG
Waratah Capital Advisors Ltd, a Canadian alternative investment manager, announced Monday its launch of the Waratah Alternative ESG Fund. The mutual fund is Waratah’s second liquid alternative offering, and is powered by the firm’s alternative ESG strategy.
Artificial Intelligence: During a Pandemic, Pitting An Index Fund Against AI
Jacob Bergdahl, a full-stack developer and AI expert, examines how a fund that used AI to pick stocks compared with an index fund during the acid test of a pandemic.
Hedge Funds: Dalton Cautions on Korea’s $100 Billion Bio Stocks
For those investors lucky enough to have invested in South Korea’s health care sector, now may be the time to assess the risks, says Dalton Investments, a $3 billion California-based hedge fund. Retail investors who have invested in South Korea’s health care sector risk over-valuing the market. The Covid-19 pandemic is one of the primary…
Artificial Intelligence: Sightbit’s AI System Watches Over Beaches For Drowning Risks
Beaches across the world are hard put to cope with the task of protecting swimmers from drowning and risky, rip currents. Unattended children and elderly people in medical emergencies are other risks that lifeguards need to watch over. This is a difficult task on crowded beaches, even with alert guards scanning the beach with binoculars. Israeli startup Sightbit has innovated AI to help keep beaches safe from accidents and drownings.
FinTech: Zerodha, India’s Largest Discount Broker, Turns Bootstrapped Unicorn
Nithin founded Zerodha in 2010 along with brother Nikhil Kamath to overcome the hurdles he faced during his decade long stint as a trader. Zerodha bootstrapped its way to becoming India’s biggest broker in terms of active retail clients and has just turned ten years old. It’s a suitable occasion to break out the champagne – because it also achieved unicorn status.
Venture Capital: Health Insurer Oscar Raises $225M Amidst COVID-19
Direct-to-consumer health insurance provider Oscar announced Friday its raise of $225 million, bringing its total funding to $1.5 billion. Mario Schlosser and Joshua Kushner co-founded the company in 2012. New York-based Oscar focusses on simplifying health care and insurance through the use of technology.
Digital Assets: MineHub Processes The First Iron Ore Transaction on the Blockchain Between BHP and China Baowu
Privately held MineHub Technologies said BHP (ASX: BHP) and China Baowu had completed their first iron ore trade on MineHub’s blockchain-based platform. The transaction is said to be a precursor to many more commodity transactions in a supply chain that will be fully digital from end-to-end.
Private Equity: PE Giants Genstar and TA Behind Orion-Brinker Merger
Private equity player Genstar Capital played a catalytic role in bringing about a merger of platform provider Orion Advisor Solutions with investment manager Brinker Capital to form an entity with an estimated $40 billion in managed assets.