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: Japanese Bank MUFG to Float Stablecoin Later This Year
Despite innumerable delays, a yen-backed stablecoin from the stable of Japanese banking giant Mitsubishi UFJ Financial Group (NYSE: MUFG) will likely see the light of day by late 2020. CEO Hironori Kamezawa broke the news at an interview with the Mainichi Shimbun newspaper. The token, dubbed “MUFG coin,” for now, could be used by anyone in the country.
FinTech: View From The Top – Matthew Blake, World Economic Forum
Matthew Blake is Head of Financial and Monetary Systems at the World Economic Forum (WEF). He is also at the forefront of the WEF for matters relating to fintech. He recently spoke to Crowdfund Insider on the industry, COVID-19 and its future outlook.
Artificial Intelligence: Air France to Deploy AI to Cut Emissions and Fuel Use
Airlines the world over are on the ropes following the collapse of the travel and aviation market due to the coronavirus outbreak. Tentative economy restarts, such as in the U.S. are under threat from a renewed rise in COVID cases. Airlines are under enormous pressure to cut costs as revenues have evaporated. Flag carriers, such as Air France (EPA: AF), have to come up with environmental quid-pro-quos to qualify for governmental bailouts. AI is a ray of hope in these circumstances.
Hedge Fund Axonic Capital to Raise $1 billion for Credit Deals
Credit Funds on the Rise Following a credit sell-off in March, Axonic Capital is looking to make a comeback through raising nearly $1 billion. Investors are looking to capitalize on undervalued assets with this fund. The firm was a key player in the 2008 financial crisis through its role with mortgaged-backed securities. With its nascent…
Real Estate: Microsoft and Samsung in Transforming Digital Move
REAL ESTATE MANAGEMENT GOES DIGITAL. Samsung and Microsoft are teaming up to transform the property management industry through smart appliances and digital cloud technologies. The goal of this partnership is to improve operations for buildings and maintenance and residents. Samsung’s SmartThings platform will assist in building operations, asset management, and energy efficiency. Samsung’s smart home…
Venture Capital: TrueBridge Capital Partners Closes Fund-of-Funds VI at $600M
TrueBridge Capital Partners, the venture capitalist firm based in Chapel Hill, N.C., announced the closure of its sixth venture capital fund-of-funds, TrueBridge Capital Partners Fund VI, L.P. after receiving commitments of $600 million.
Alternative Investments: A Pivotal Change in Trend of New Home Sales? Homebuilder ETFs To Consider
The pandemic sparked whole new trends including a massive jump in online ordering and digital payments, the wholesale conversion to “work-from-home,” and the decimation of business prospects for movie theaters and restaurants. But homebuilders may be in clover.
Digital Assets: Bank of England Mulling CBDC
Speaking to students on a webinar, Bank of England governor Andrew Bailey said the bank was considering whether a UK central bank digital currency (CBDC) was feasible.
FinTech: Robinhood, the Fee-Free Trading App, Raises $320M At $8.6B Valuation
Nothing, it seems, can stand in the way of Robinhood’s cash chase. COVID-19 notwithstanding, the share trading and investment platform announced and raised in May an ‘F’ funding of $280 million. That round got rounded up nicely to $600 million Monday after Robinhood announced its expansion and raise of an additional $320 million. Investors in Monday’s tranche included TSG Consumer Partners and IVP.
Artificial Intelligence: How Israeli AI is Hunting Down Operators of Hostile Drones
Dr. Gera Weiss and Eliyahu Mashhadi, researchers at Ben Gurion University in Beer Sheva in southern Israel, have developed an AI-enabled system that pinpoints the location of a person operating an enemy drone using its flight path.
Julius Baer Moves Into Private Equity
Formidable PE Contender. Julius Baer is set to launch a new division specializing in private equity, with UBS veteran Guiseppe Filippo poised to take the reins. The firm will name this division Direct Private Investments upon its roll out in October. Julius Baer Private Equity Plans The Swiss bank will have a team of investment…
Hedge Funds: Chatham Asset Management Wins Bid for McClatchy Newspapers
One of the nation’s leading news publishers, the McClatchy Company, will be purchased by Chatham Asset Management. This is following many years of revenue decline for the publishing company. The McClatchy Company has had 163 successful years of family ownership. It will now be sold in a bankruptcy auction to the New Jersey-based hedge fund….
Venture Capital: Electric Vehicle Startup Rivian Raises $2.5B
Funds and accounts advised by T. Rowe Price Associates, Inc. led an investment round worth $2.5 billion in electric vehicle maker Rivian. Participants in this investment round include Soros Fund Management LLC, Coatue, Fidelity Management and Research Company, and Baron Capital Group. Existing shareholders Amazon (NASDAQ: AMZN) and funds managed by BlackRock (NYSE: BLK) also participated.
Private Equity: Callan Reveals PE Partnership Metrics
PE Partnership Terms – Best Practices Callan, an institutional investment consulting firm, released its Private Equity Fees and Terms Study to serve as a reference for institutional investors. This study analyzes the terms and fees for 90 private equity partnerships. Institutional investors can use this information when negotiating and evaluating partnership terms. According to head…
Digital Assets: Clear Provides Blockchain Solution For Telcos’ Roaming Discount Agreements
Clear, a blockchain startup founded in 2018, specializes in removing complex frictions in B2B trade. One such pain point is the contractual settlement and reconciliation for roaming agreements between telecom operators. Clear came up with a blockchain solution for the settlement of roaming discount agreements for Spain’s Telefónica, Deutsche Telekom, and British provider Vodafone.
Alternative Investment: Vanguard Launches Its First ESG-focused Fixed Income Product For U.S. Investors
Vanguard filed a preliminary prospectus for a corporate bond ETF that will offer U.S. investors investment-grade corporate bonds with additional exposure to environmental, social, and governance (ESG) criteria. Vanguard has moved to take advantage of the growing investor awareness and interest in the sustainable investing market. Additionally, there were few fixed-income ETFs in the ESG arena, and therefore the new ETF will fill a void.
FinTech: “Massive Opportunity for Disruptors” and “The Biggest VC Exits” – Steve Sloane
Fintech presents a treasure trove of opportunities for disruptors. Steve Sloane, who is a partner at Menlo Ventures and runs the firm’s “Inflection Fund,” shared his vision for the fintech sector in an article.
Artificial Intelligence: Optimizing Public Transit for Social Distancing Amid COVID-19
COVID-19 has subjected public transit systems to twin upheavals. One, the need for maintaining social distancing among commuters to reduce the spread of virus infections. Two, the change in ridership patterns due to the virus as the flow of people commuting between home and work has changed dramatically. The latter, particularly, has created logistical nightmares for public transit authorities in the way of planning, service reliability, and funding disruptions. A Vanderbilt University professor is applying AI to the solution of these problems for the public transit systems of Nashville and Chattanooga.
Despite Turbulence, Hedge Funds Achieve Q2 Gains
Hedge Funds Up Amid Volatile Markets. Hedge funds were up nearly two percent in the month of June. This means that the industry faced its third monthly gain in a row. Although the industry aggregate — as measured by the HFRI Fund Weighted Composite Index — is still down, hedge funds are doing well considering…
Private Equity: AMC Takes PE Route to Steer Clear of Bankruptcy
Silver Lake Group Close on AMC Deal Private equity firm, Silver Lake Group, is on the brink of making a deal with AMC Entertainment Holdings. The American movie theater giant is suffering due to a lack of business resulting from Covid-19, and risks having to file for Chapter 11 bankruptcy. To avoid this, Silver Lake…
FinTech: Online Lender and Fintech SoFi Refiles For A National Bank Charter
SoFi becomes one more fintech looking to crossover into mainstream banking after it filed a de novo application with the Office of the Comptroller of the Currency (OCC) for a national bank charter. According to American Banker, which cited a SoFi spokesperson, the fintech applied on Wednesday, though a copy of the charter application was not available till Thursday.
Venture Capital: Sony Pays $250M for a 1.4% Stake in Fortnite Game Maker Epic
Sony (NYSE: SNE) announced Thursday its deal to buy a minority stake in Epic Games, the private company behind the battle-royale juggernaut of a game known as Fortnite. It is the world’s largest game with over 350 million accounts and 2.5 billion friend connections. Sony is paying $250 million for its 1.4% stake in Epic, which also develops Unreal Engine – the software used by game developers the world over and which powers the top games across the globe.
Artificial Intelligence: World Artificial Intelligence Conference 2020, Shanghai
The theme of the conference is “Intelligent Connectivity, Indivisible Community.” Researchers, entrepreneurs, and officials from across the globe are discussing the emerging trends in artificial intelligence.
Digital Assets: Didi, Others Collaborating With Banks and PBoC on DCEP, the Chinese CBDC
The Chinese ride-hailing megacorp, DiDi Chuxing, has agreed to collaborate with the Digital Currency Research Institute of the People’s Bank of China (PBoC) on the DCEP – the CBDC under development by China. According to another report, Meituan, the major eCommerce service platform with over 240 million consumers and five million local merchants, as well as video-sharing site Bilibilibili, has begun to cooperate with banks developing the digital yuan.