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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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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Digital Assets: NPP, A Blockchain Solution for Governments Considering a CBDC
Apollo Fintech announced Wednesday the completion of its National Payment Platform (NPP), the first of its kind, blockchain-based, cashless national currency platform. It enables a central bank to issue a sovereign, digital currency for national adoption.
FinTech: Done With Beta, Revolut Preps For Australian Launch
Revolut, the UK-based neobank led by Nikolay Storonsky, on Tuesday called an end to its beta mode operations in Australia. Country CEO Matt Baxby said the fintech was now readying for a launch of a “super app” in the country.
Artificial Intelligence: Blue River’s Massive Robots For Precision Spraying Weeds
A growing world population is placing increasing demand for food on existing resources such as land, water, and nutrients. Add to this the challenges from climate change, plant disease, and attacks from pests and weeds. Agricultural output is under pressure at a time of rising demand, and the race is on to find agricultural methods, technology, and tools to enhance farming efficiency. At Blue River Technology, a subsidiary of John Deere (NYSE: DE), they are building smart agricultural robots that precisely spray weeds with herbicide in real-time.
CRE Fundraising Faces Challenges Amid Ongoing Global Pandemic
Coronavirus continues its impact on the commercial real estate market. COVID-19 has hit the commercial real estate market in North America particularly hard. Growth for this sector has stalled in the first half of 2020. According to a Preqin report, real estate funding for private equity is past its peak, which was $83 billion in…
Blackstone Invests in South Florida Real Estate
Real Estate Boon Amid Pandemic. Blackstone Group announced its completion of a real estate transaction with Elion Partners, which includes industrial properties in Broward County. The deal encompasses warehouses located in Weston, Coral Springs, and Pompano Beach. Elion Partners initially paid $35 million for these properties in 2018 and 2019. Medical devices company Venus Concept…
Artificial Intelligence: Using AI To Keep Parolees From New Crimes (Recidivism)
Researchers at Purdue University Polytechnic Institute are using artificial intelligence (AI) to pinpoint behavioral flags that can trigger early intervention before the parolee recommits crime – known as recidivism.
Venture Capital: Nokia-Branded Device Maker HMD Global Raises $230M
HMD Global, the maker of Nokia phones, announced Tuesday the closure of a $230 million fundraising. The company said investors included some of its top global strategic partners. These were unnamed in the company’s press release. However, according to a Reuters report, these strategic investors included Google (NASDAQ: GOOGL), Qualcomm (NASDAQ: QCOM) and Nokia (HEL: NOKIA).
FinTech: American Express Eyeing SMB Lender Kabbage in $850M Deal
American Express (NYSE: AXP) the largest provider of credit cards to small businesses, is in advanced talks to acquire Kabbage, the online lender to small businesses, according to Bloomberg.
Digital Assets: Nasdaq-listed Company Microstrategy Bets $250M on Bitcoin
MicroStrategy Inc (NASDAQ: MSTR), a business intelligence firm, announced Tuesday that it had made good on its two-pronged capital allocation strategy announced July 2020. Firstly, it launched a tender offer to buy up $250 million worth of its class A common stock. In the second leg, it bought bitcoin (BTC) worth $250 million as a part of its commitment to invest in one or more alternative investments or assets.
ESG Investments to Gain Popularity in Real Estate
ESG Investments to Gain Popularity in Real Estate As the environment becomes more of a priority among the public, environmental responsibility has become a priority for businesses and organizations as well. The looming effects of climate change are pressuring businesses and corporations to take action. Oil and gas companies in particular are facing increasing pressure…
Private Equity: Advent Invests in Hermes UK
Private Equity: Advent Invests in Hermes UK Courier services company Hermes will soon benefit from a hefty investment from private equity firm Advent International. Otto Group has previously announced that it will partner with Advent to grow Hermes Group in Germany and the UK. Advent International and Otto Group will partner their management teams to…
Liquid Alternatives: Prime Capital to Launch Liquid Alts Credit Fund
Liquid Alts Proliferate as Their Attributes Shine. Independent asset manager Prime Capital is one of the lastest firms to roll out a liquid credit fund. The fund offers a range of alternative credit strategies, including trade finance and real estate bridge financing. This fund will invest between 15 and 20 funds globally. They will be…
Hedge Funds: Lone Pine Hits the Jackpot
200% Gain on Afterpay Investment. United States-based hedge fund Lone Pine Capital has hit a $56 million jackpot in profits on Afterpay. This firm made returns of over 200 percent on a $27 million investment in Afterpay shares. Its total proceeds exceeded $80 million in just a few months. Its investments were scattered across four…
Private Equity: Blackstone to Acquire Prestige Group Assets
$1.7bn Deal is Largest for India Real Estate Sector. Private equity giant Blackstone group is planning to acquire Prestige Group’s rental income assets for over $1.7 billion, or Rs 12,745 crore. This buyout will be the largest for the real estate sector in India. This transaction will prove to be useful to Prestige Group as…
Venture Capital/Real Estate: MetaProp Launches Fourth Fund Targeting $200M
MetaProp, the NYC-based VC firm that backs startups in the field of real estate technology, is back in the market with a $200 million fund. Titled MetaProp Growth Select I, the fund will target more mature startups in the field. MetaProp co-founder Aaron Block will manage the fund.
FinTech: Revolut Reports Robust Revenue Growth Even As Losses Triple
Revolut, the London fintech and neo bank, published its annual report for 2019 today. It reported a rather sizable loss of £107.4 million for the year. This was more than three times its loss during 2018, which was £32.8 million.
AUM of ESG-Focussed Funds Exceeds $1T
A rush of inflows of $71.1 billion into ESG and sustainable funds globally between April and June this year pushed the AUM of such funds to a record $1 trillion, according to Morningstar. Investors have been drawn to such funds after the coronavirus outbreak.
Digital Assets: Russian Railways Advisor In Favour Of Blockchain Technology
Sergey Vinogradov, the general director of the Scientific Research Institute of Railway Transport, has come out in support of blockchain technology and the possibility of its use in the running of the Russian Railways.
Artificial Intelligence: Treating Acne With AI and Smartphone Technology
Sophie Seité, Ph.D., La Roche-Posay Dermatological Laboratories, Levallois-Perret, France, and her team have designed an artificial intelligence algorithm that accurately assesses acne and associated lesions through a smartphone.
Real Estate: Foreign Buying of U.S. Properties Has Glim 2020 Outlook
COVID-19 is sparking a critical decline of overseas buyer interest. Foreign buyers have historically been a large part of the United States real estate market. Lately, however, the size and scope of foreign buyers has been declining. Even worse, the Coronavirus pandemic could exacerbate this trend as international buyers step away from the market. In…
Alternative Investments/Real Estate: HOMZ ETF Issuer To Ring NYSE Closing Bell To Mark Fee Cut
The Hoya Capital Housing ETF (NYSE: HOMZ) announced Wednesday a cut in its expense ratio from 0.45% to 0.30%, effective from August 1, 2020. It claimed that it has the distinction of being the lowest-cost ETF in FactSet’s Equity (U.S. Homebuilding segment).
FinTech: Grab Financial Flags Off A Bouquet of New Services
Grab Financial Group Expands Suite of Products Under ‘Thrive with Grab’ Strategy
Venture Capital: ChargePoint Recharges With $127M To Expand Its Network
ChargePoint announced Wednesday an incremental equity financing of $ 127 million from investors including American Electric Power, Chevron Technology Ventures, Clear Vision, and Quantum Energy Partners. According to TechCrunch, the company has so far raised $ 660 million.
Digital Assets: JPMorgan on the Generational Divide in Alternative Assets Investing
According to a note from JPMorgan (NYSE: JPM) analysts this week, an interesting trend is playing out in alternative investments such as precious metals and cryptocurrencies. Older, more conservative investors are buying up safe-haven assets such as gold and silver. However, millennials will have none of such stuffy, traditional investments. They are more attracted to the technology, the volatility, and the modern allure of digital assets such as bitcoin.