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.
Top Story
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.
Get Daily Updates
Subscribe to DailyAlts Today to get Alternative Investment news, insight, and commentary delivered straight to your inbox every day.
More Stories on News
Digital Assets: Carl Icahn Mulling $1B Investment In Crypto
Carl Icahn, the billionaire and famed activist investor, said on a Bloomberg interview Wednesday that he was contemplating investing in cryptocurrencies “in a big way.” Ultimately, he may buy an alternative currency as an investment worth $1 billion or more, he said.
FinTech: Paytm, India’s Leading Digital Payments Provider, Planning $3B IPO
Paytm, the Indian payments giant backed by investors such as Berkshire Hathaway Inc., SoftBank Group Corp., and Ant Group Co., is weighing an IPO worth $3 billion says a Bloomberg report. The firm is targeting a massive valuation of $25 billion to $30 billion.
Artificial Intelligence: Eye Tracking Company Smart Eye Acquires Emotion Detection Software Firm Affectiva
Affectiva says 9 people are killed every day and 1,000 are injured due to distracted driving. 6,000 people are killed annually due to drowsy driving. Its Affectiva Automotive AI is an In-Cabin Sensing software that measures in real-time the state of the cabin, and that of the driver and occupants in it. Swedish company Smart Eye will acquire Affectiva to gain global leadership in automotive-grade Interior Sensing AI.
Venture Capital: Black Founders Focused Collab Capital Raises $50M
Justin Dawkins, Jewel Burks Solomon, and Barry Givens founded Collab Capital in 2018 to solve the problem of capital access for Black entrepreneurs. Collab began raising its first fund in 2019 and after 18 months, the firm announced Wednesday that it had closed its Collab Capital Fund I with $50 million in the bag to invest in Black-founded startups.
Alternative Investments/FinTech: LGIM Launches UCITS ETF Focused On Digital Payments
The L&G Digital Payments UCITS ETF from Legal & General Investment Management (LGIM) gives investors the opportunity to profit from the significant growth potential of digital payment technologies. As a thematic play on this market, the new ETF invests in payment acquirer and card issuers, payment gateways and processors, payment technology providers, and card-less payment service providers.
Digital Assets: The UK’s ASA Bans Bitcoin Ads By Luno Money On Buses And Underground
Luno Money, a cryptocurrency exchange service, prominently displayed ads on the London Underground and London Buses in February that said “If you’re seeing Bitcoin on the Underground (or bus), it’s time to buy”. The ASA received four complaints against the ads and after investigation, banned Luno from displaying them.
FinTech: SoftBank Invests $250M In Zeta, A Banking Technology Startup
Dubai-headquartered, Indian fintech startup Zeta has raised $250 million from SoftBank’s Vision Fund 2 at a valuation of $1.25 billion. The startup, founded by Bhavin Turakhia and Ramki Gaddipati, creates technology for banks to quickly launch user-friendly digital offerings.
Alternative Investments/ESG: Putnam Launches New Active ETFs Based On Its Leading Equity Strategies
Putnam Investments has leveraged four of its leading equity strategies to launch its first ETF products. The actively managed ETFs are Putnam Sustainable Leaders ETF (PLDR), Putnam Sustainable Future ETF (PFUT), Putnam Focused Large-Cap Growth ETF (PGRO), and Putnam Focused Large-Cap Value ETF (PVAL). They all trade on the NYSE effective today.
Venture Capital: Bowery, The Largest Vertical Farming Company In The U.S., Raises $300M
Bowery Farming, the largest vertical farming company in the U.S., announced its Series C raise of $300 million at a valuation of $2.3 billion. Led by Fidelity Management & Research Company LLC, the round saw follow-on investment from existing investors GV (formerly Google Ventures), General Catalyst, GGV Capital, Temasek, and Groupe Artémis (Pinault-owned). New investors included Amplo and Gaingels, a fund representing the LGBTQ community and allies.
Artificial Intelligence: China Testing AI-Powered Emotion Detection on Uighurs (BBC)
In a shocking revelation, a software engineer revealed to the BBC that an elaborate, AI-based system using facial recognition was being used on Uighurs in the Xinjiang province of China for detecting states of emotion on their faces.
Digital Assets: Goldman, JPM Bullish On Cryptos; Issue Solid Projections For Coinbase
Both JPMorgan (NYSE: JPM) and Goldman Sachs (NYSE: GS) have initiated coverage on Coinbase (NASDAQ: COIN) and assigned bullish ratings and price targets. At the time of writing, COIN is trading at $241, and the investment bankers’ price targets represent upside of 54% (JPM) and 27% (GS) respectively.
Alternative Investments/ESG: Vanguard Launches ESG Corporate Bonds ETF
Vanguard’s Fixed Income Group, which manages more than $1.7 trillion in assets under management (AUM) across the globe, now has an ESG corporate bond ETF under its wings. The Vanguard ESG Global Corporate Bond UCITS ETF (V3GD) is launched on the London Stock Exchange and Deutsche Boerse with an ongoing charges figure (OCF) of 0.15%.
Venture Capital: Digital Health Platform Noom Raises $540M Round Led By Silver Lake
In a January interview, Saeju Jeong, co-founder and CEO of Noom, said that there is a new, COVID-triggered trend of people seeking to lead a healthier lifestyle that includes the mind and body both. That figures, because during Covid-19, in 2020, Noom doubled its 2019 revenues of $200 million. And today, it announced a monster, $540 million Series F round led by Silver Lake.
FinTech: Zip Acquires BNPL Providers In Europe And UAE
Australian fintech Zip (ASX: Z1P) has bought up the entire remaining capital in a Buy-Now-Pay-Later (BNPL) entity each in Europe and the UAE. Zip will pay $140 million for the balance shares in Twisto, which operates in Central Europe, and $21 million for the shares it does not own in Spotii, a BNPL leader in UAE.
Artificial Intelligence: Duke University Scientists Develop AI-Powered Toilet For Stool Analysis
Scientists at Duke University’s Center for Water, Sanitation, Hygiene and Infectious Disease (WaSH-AID) have developed Smart Toilet, an AI tool that can be retrofitted into standard toilets to collect information from patients’ feces. Gastroenterologists can use this data for the treatment of various gut diseases including irritable bowel syndrome (IBS).
Digital Assets: Behold, The Dawn Of A New Asset Class – Goldman Sachs On Bitcoin
In new research, Mathew McDermott, Goldman Sachs’ global head of digital assets. revealed that Goldman Sachs (NYSE: GS) clients are notably treating bitcoin as a new asset class. “Bitcoin is now considered an investable asset. It has its own idiosyncratic risk, partly because it’s still relatively new and going through an adoption phase,” he wrote.
Liquid Alternatives: Before The Bubble Bursts, Take Shelter In Value And Liquid Alts (GMO’s Inker)
A retail investor called up Inker in the middle of the night to berate him for his view that retail investors would be hit hardest when the market collapses. Writing on the incident in his Q1 2021 letter, Inker said investors, particularly newbies, should shift away from speculative growth stocks to value or liquid alternatives.
FinTech: U.K.’s Hydr Launches Innovative Invoice Financing Platform
Co-founded by Mancunian Nicola Weedall and Hector Macandrew, Manchester-based fintech start-up Hydr (pronounced Hi-der) launched today its proprietary invoice finance platform. It pays out small businesses the value of their invoice within 24 hours, less a fee.
Venture Capital: Aurora Solar Scores $250M Series D
Aurora Solar announced today its $250 million Series C funding round led by Coatue, with follow-on participation from existing investors ICONIQ Capital, Energize Ventures, and Fifth Wall. Aurora adds the software edge to solar projects, attempting to shave off thousands of dollars from the cost of the average solar project by providing remote assistance to solar outfits.
Artificial Intelligence: Chinese Autonomous Vehicle Startup Pony To Test In California
Pony.ai, the Chinese autonomous mobility startup founded in Fremont, California in late 2016, has been permitted by California’s Department of Motor Vehicles (DMV) to test its driverless cars without human safety drivers behind the wheel on specified streets in the state’s three cities.
Digital Assets: China May Crack Down On Bitcoin Mining; Fresh Slide In The Crypto
China’s phobia of social unrest following financial market upheavals has led its regulators to go hammer and tongs at cryptos. Their dire reminders earlier this week of the regulatory position on cryptocurrencies played a not insignificant role in the great bitcoin crash on Thursday. But there were more grim pronouncements regarding bitcoin from China today.
Venture Capital: German Stock Trading App Trade Republic Scores $900M Raise
Germany’s cutprice, mobile-based stock trading app Trade Republic, which is said to have copied Robinhood’s business model, made European history by raising $900 million in a Series C round. American venture capital firm Sequoia led the round, with additional backing from new investors TCV and Thrive Capital. Existing shareholders including Accel, Founders Fund and Creandum also participated.
Alternative Investments/ESG: The Solar Energy UCITS ETF Focuses On The Global Solar Industry
The Solar Energy UCITS ETF (LON: TANN) will be launched on the HANetf platform and list on the LSE in June. Solar is now the cheapest source of energy in many large economies and is, therefore, the fastest-growing source of new energy capacity. Investments in capacity could aggregate $4.2 trillion by 2050. This ETF will provide “pure-play” exposure to this huge opportunity.
Artificial Intelligence: AI Will Police Offensive Messages On Dating App Tinder
Tinder, the global dating app, will deploy Artificial Intelligence (AI) to curb online harassment and offensive messaging on its platform. The new AI-backed feature, dubbed “Are You Sure?” or AYS, will sense if a message is inappropriate or offensive, and display that question as a prompt before the user can hit Send.