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
Artificial Intelligence: AI Solves 50-Year-Old Biology Mystery; Medical Breakthroughs Could Follow
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.
Digital Assets: Guggenheim, Another Feather In Bitcoin’s Cap
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.”
Venture Capital: Chinese Edtech EEO Scores $265M Series C Round
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.
FinTech: Saudi Arabia Hosts Fintech Tour 20
A virtual event, the third Fintech Tour 20 is being held from 29th November – 10 December 2020. Fintech Saudi and the Capital Markets Authority (CMA) have launched the event to support the growth of the fintech industry in Saudi Arabia. Fintech Saudi is an initiative by the Saudi Arabian Monetary Authority (SAMA).
Alternative Investments/ESG: Here’s FRDM, The ETF With A Conscience
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.
Alternative Investments: Accelerate Launches An ETF For Alternative Assets
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.
Digital Assets: Japanese Financial Group SBI Launches Crypto Lending
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.
FinTech: Hippo Insurance Gets $350M Funding From Mitsui Sumitomo Insurance
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.
Venture Capital: Astanor Ventures Launches $325M Fund For Impact Investing in Agtech
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.
Artificial Intelligence: The Norwegian AI Lab Helps Salmon Aquaculture
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.
Alternative Investments/Real Estate: U.S. Home Prices Record Biggest Gain Since 2014
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.
FinTech: HSBC, Western Union Announce Global, Real-Time Payments
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.
Venture Capital: Toast Valued At $8B In Secondary Share Offering By Employees
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.
Digital Assets: Gazprombank Switzerland Flags Off Bitcoin Transactions
Gazprombank Switzerland, which is the wholly-owned Swiss arm of Russia’s Gazprombank (JSC), has debuted its bitcoin trading according to an announcement on November 19 by Avaloq, a provider of digital banking solutions.
Artificial Intelligence: Pactum’s AI Negotiates Contracts For Walmart
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.
Alternative Investments/AI: European Investors Believe AI Is A “Compelling Opportunity”
Exchange traded fund (ETF) sponsor WisdomTree commissioned a survey by Coredata Research of professional investors across Europe on thematic investing. The survey found that a vast majority of these investors considered artificial intelligence as the most compelling long-term thematic investment opportunity.
FinTech: Western Union Acquires 15% Of Saudi Fintech stc pay For $200M
Western Union (NYSE: WU) has taken a 15% stake in stc pay for $200 million, valuing the Saudi fintech at $1.3 billion. Western Union is the world’s largest remittance company, while stc pay is a fully owned subsidiary of Saudi Arabia’s stc Group.
Venture Capital: Andreessen Horowitz Closes Two New Funds Worth $4.5B
Andreessen Horowitz (a16z) collected $4.5 billion in two new funds, bringing its assets under management to a whopping $16.5 billion.
Artificial Intelligence: Amidst The Pandemic, A New AI Platform Drives Business At Scotiabank
Toronto-headquartered Scotiabank (NYSE: BNS) announced that it had been using a new AI platform over the past 10 months to enhance its customer service through the delivery of faster insights and better advice.
Digital Assets: Two Patents By Ciphertrace Cover Forensic Tracing Of Monero
Criminals using the supposedly untraceable, secure, and private digital currency may not be able to avoid the long arm of the law.
Ciphertrace, a crypto-intelligence company, announced Friday that it had filed two patents for the forensic investigation and tracing of the Monero (XMR) privacy coin.
Digital Assets: Corporate Hoard Of Bitcoin Is Now In Excess Of $15B
According to Clark Moody Bitcoin Dashboard, corporate treasuries hold 842,229 bitcoin valued at $15.8 billion and representing 4.54% of the current supply. That quantity is also confirmed by Bitcoin Treasuries.
Liquid Alternatives: Changebridge Capital Launches Long/Short Equity ETF
The Changebridge Capital Long/Short Equity ETF seeks long-term capital appreciation while minimizing volatility. The fund also aims to generate positive alpha via both the long and short portfolios throughout an entire investment cycle. The ETF has the potential to enhance an investor’s return profile while reducing risk.
FinTech: Klarna’s Pedal-To-The-Metal In The U.S.
Klarna, the fourth-largest private fintech in the world, announced Thursday that it had amassed a record 11 million customers in the US, a surge of 106% year-on-year. It also said its newest one million customers were added in just three weeks.
Venture Capital: Thrasio “Me-Too” SellerX Raises €100M To Roll Up Amazon FBA Businesses
Yesterday we wrote about Heyday and its raise of $175 million within four months of founding. A new fad appears to be catching on, and that is to buy and scale-up Amazon FBA (Fulfilled By Amazon) businesses. On Thursday, Berlin-based SellerX, another startup with this business model, secured €100 million of seed round financing.