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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Private Equity: Inside the Apollo Global 13F Filings
Private equity and alternative investments manager Apollo Global (APO) was very active in the first quarter.
The firm opened or added to 35 stocks while reducing or eliminating just 17 potions in the quarter.
We know from their conference call that they also were big buyers of high-grade corporate bonds in the quarter. According to Apollo executives, they have already sold most of those for fairly large profits, but they tend to be a longer-term holders of equity positions. They tend to take concentrated positions as 90% of the $7.5 billion public equity portfolio is in the top ten holdings.
Venture Capital: COVID Forces Indian Food Delivery Apps Swiggy and Zomato To Slash Workforce
Swiggy, an Indian startup that delivers food, groceries and operates a courier-like service, has just issued pink slips to 1,100 employees. In a blog to employees, Swiggy cited a “severely impacted” core food delivery business and disclosed intentions to jettison non-core and volatile businesses in the ensuing 18 months. Meanwhile, the food-delivery app Zomato laid-off 13% of its employees, or 520 positions, according to a media report. It cited the large number of restaurants that have shut down, with more to come.
Venture Capital: BlackRock Leads $190M Series D Round in Contentsquare
Contentsquare has raised $190 million in a Series D round led by BlackRock (NYSE: BLK). The startup previously raised $60 million in a Series C in January 2019. Cumulatively, it has raised $310 million since its formation in 2012.
Artificial Intelligence: AI is Making Oil Rigs Safer
Oil rigs are one of the most dangerous places to work for human beings with a constant risk of injury or harm. Huge mechanical systems mesh together to keep these huge rigs afloat above the ocean surface and continue drilling deep beneath the ocean floor. The risks of fire, explosion, accidents from hazardous machinery, and falls are always round the corner on oil rigs. Artificial intelligence (AI) can make these danger-prone work areas much safer.
DailyAlts Playbook: Hedge Fund Returns, Fed Testimony, Alts Investments, and a Hypothetical Day at the Office
Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin will testify before the Senate Banking Committee. This is the first time that both men will update Congress on the $2.2 trillion economic package that the Senate helped to pass in March to address COVID.
FinTech: The PPP Loan Program Helps Kabbage Bounce Back
Kabbage, the online fintech lender for small businesses, announced Monday that it processed more than $3.5 billion in SBA-approved PPP funding to 110,000 small businesses. It claimed the loans helped restore over half a million jobs at America’s smallest businesses.
Digital Assets: Cryptobuyer-Mega Soft Tie-up to Allow Venezuelans the Use of Cryptos
Panamanian crypto exchange Cryptobuyer has tied up with Venezuelan local payments processor Mega Soft to enable the use of bitcoin by shoppers at Venezuela’s biggest retail chains. Starting June, more than 20,000 point-of-sale (PoS) located throughout Venezuela will accept bitcoin and other cryptocurrencies in payment for shoppers’ purchases of goods and services.
Private Equity: KKR Unveils Its Q1 SEC Filings
Kohlberg Kravis and Roberts (NYSE: KKR) reported their public equity holdings to the SEC this week. While most of their largest positions are companies that own a controlling interest after a buyout and partial IPO, their buying and selling activities in a given quarter can provide valuable insight into their current thoughts.
Private Equity: Blackstone Group Filings Update for Q1 2020
Blackstone Group (NYSE:BX) continued to deploy capital as the market declined in the first quarter of the year. On the private side, Blackstone has been investing in life sciences deals, casino operators, energy companies, and, of course, more warehouses.
Artificial Intelligence: Goldspot’s AI Boost’s Success in Mineral Exploration
Goldspot Discoveries Corp (CVE: SPOT) uses artificial intelligence and big data to extract more information from historical mining data. It hopes to increase the success rates in resource exploration and optimize resource property potential. In the Quebec Abitibi, Goldspot found 86% of existing gold deposits but only needed 4% of the total surface area to do so (and found additional targets as well).
Digital Assets: Onchain Custodian Announces Collaboration with Trading Platform CyberBank
Onchain Custodian, which is a digital asset custody provider backed by Sequoia Capital, Fosun, and DHVC Capital, will provide secure and insured custody to CyberBank for its digital assets.
Venture Capital: Clearbanc Founder on the Funding Slowdown at Startups
Michele Romanow, the co-founder and president of venture capitalist firm Clearbanc, says VCs are in “triage mode.”
Triage: “Decide the order of treatment of patients of casualties.” That’s a comment on the grim funding conditions that start-ups face in the current environment. Venture capitalists are “thinking about triage mode, and how to save certain companies within their portfolio,” said Romanow. She was speaking in an interview with “On the Move.”
Venture Capital: Jack Ma Calls it Quits at SoftBank after 13 years
After 13 years, Jack Ma, the founder of Alibaba Group Holding (NYSE: BABA) will be relinquishing his position on the SoftBank board at his own request. Ma retired from Alibaba last year.
DailyAlts Playbook: Vaccine Hopes, Bitcoin Jolts, Softbank’s Woes, and Community Banking 101
THE DAILYALTS PLAYBOOK May 18, 2020 DailyAlts Playbook: Vaccine Hopes, Bitcoin Jolts, Softbank’s Woes, and Community Banking 101 PRIME OVERVIEW Good morning, With the Dow up 700 points on speculation around Moderna’s vaccine trial for COVID-19, I’ll start with a brief note on what’s happening at DailyAlts. Yesterday, we published the May Community Bank Investor…
FinTech: Post-COVID-19, Fintech To Emerge Stronger, Says Dubai Future Foundation
“Life after Covid-19: Financial Technologies,” a report issued by the Dubai Future Foundation, examines the impact of the pandemic on the UAE and the Arab world, and in particular, the fintech sector. The report reassuringly concludes that the sector would emerge stronger from the crisis as people take to digital services to run their lives.
Private Equity: Vista Equity Partners Invests in Reliance Jio Platforms
A holdover from last week. But technology-focused private equity firm Vista Equity Partners has invested in Reliance Jio Platforms, India’s low-cost telecommunication company.
Vista is investing $1.5 billion for a 2.32% stake in Reliance Jio Platforms. Fellow tech-centric private equity firm Silver Lake and Facebook (FB) have also made significant investments in the company recently.
iCapital Network: The Potential Benefits of Investing in Private Equity Secondaries
In this guest post from Kunal Shah and Tatiana Esipovich at iCapital Network, the authors explain how secondary funds offer the potential for diversified private equity exposure and an attractive risk profile. By: Kunal Shah and Tatiana Esipovich The secondary private equity market comprises the buying and selling of preexisting investor commitments to private market funds….
Liquid Alternatives: Picking eCommerce ETFs Amidst the Retail Apocalypse
American retail sales plunged to a record low in April. It is a reflection of the dire straits that the retail industry is in due to the coronavirus pandemic. US retail sales fell by 16.4% in April, following up on an 8.3% decline in March. This is the largest two-month plunge on record. The virus scare may be the last straw on the camel’s back, as far as America’s already struggling retail industry is concerned. To put salt to injury, online sales grew 8.4% in April.
Digital Assets: Indian Crypto Exchange CoinDCX Appoints BitGo As Custodian
CoinDCX, which claims to be India’s largest and safest crypto exchange and liquidity aggregator, will entrust its crypto assets to the custody of U.S.-based BitGo. It may be noted that BitGo has in place a US$100 million insurance policy coverage for crypto assets provided by a syndicate of insurers in the Lloyd’s of London and European Marketplace.
FinTech: Oxygen’s New Digital Banking Platform is Designed for Gig Workers
Digital challenger bank Oxygen is bringing an all-new digital banking platform to freelancers and small businesses. The capabilities of the new platform, taken with the reach, capabilities, and security of the Visa (NYSE: V) network, will make it a valuable asset to hard-pressed freelancers.
Artificial Intelligence: Intel’s Venture Capital Arm invests $132 million in AI Start-ups
Intel Capital is the venture capital arm of Intel Corporation (NASDAQ: INTC). It frequently invests in start-ups to grow technology that it can use while competing with other companies in the fields of chip manufacturing, AI hardware and software. Intel Capital revealed new investments in 11 AI start-ups aggregating $132 million.
Venture Capital: The Indian VC Industry Deployed a Record $10B in 2019 (Report)
2019 was a banner year for the Indian VC industry, says the IVCA-Bain India Venture Capital Report. Investors deployed a record-breaking $10 billion, up 55% from 2018, with deal volume surging 30%. The average deal size rose by 20% in 2019. Further, average deal ticket sizes surged across all stages of investment.
DailyAlts Playbook: What Dalio is Buying, Davey Day Trader Global, and Restarting the Trade War
The Dow shed 200 points this morning, and while I’m usually not overcommitted to what the Dow is doing, I am looking at geopolitical tensions. We’re back into a barking match with China – this time because the White House has blamed its rival for the spread of COVID. That said, Chinese media are now arguing that if the U.S. blocks supplies of semiconductors to tech firm Huawei, China will launch its “unreliable entity list” and “restrict or investigate” companies like Apple, Cisco, and other tech firms.
Digital Assets: Powell Hints at Additional Fiscal Support; Bitcoin to Gain
Federal Reserve Chair Jerome Powell spooked the markets when he came out Wednesday with a highly pessimistic outlook on the pandemic-struck U.S. economy. He said that additional stimulus would be perhaps needed because of “significant downside risks.” The Fed chief’s view, if implemented, could prove bullish for an anti-fiat, non-correlated asset such as bitcoin.