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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Venture Capital: Aksia Warns PE and VC Shops Against PPP Hunt
Private equity and venture capital firms want government money. But investment consulting firm Aksia says they need to think twice about any bailout capital
The industries have lobbied for their portfolio companies to achieve eligibility under the new Small Business Administration program.
Real Estate: Coronavirus Hits Property Deals Across Manhattan
Aby Rosen, the co-founder and principal of RFR Realty, is dropping out of two previously announced deals in Manhattan. RFR is backing out on a deal to buy 900 Third Avenue in Midtown from Paramount Group (PGRE) for $400 million. It is also walked away from a plan to buy property at 1600 Broadway in Times Square that listed at roughly $200 million. There are reports that Mr. Rosen is willing to consider closing the deal for 900 Third Avenue when the pandemic has passed.
Digital Assets: Bitfinex Transacts BTC Worth Record-Breaking $1.1B For A Minuscule $0.68
On April 10, there were waves in the crypto world when a massive bitcoin transaction of 161,500 bitcoin (BTC) occurred at a fee of 0.00010019 BTC.
Translated to US$ the two sides of the equation equal to $1.1 billion vs charges of $0.68. Don’t even try to work out the percentage on that one
Liquid Alternatives: Non-transparent ETFs Could Move Mutual Funds’ Cheese
American Century’s actively managed, non-transparent ETFs started trading earlier this month. American Century Focused Dynamic Growth ETF (BATS: FDG) and American Century Focused Large-Cap Value ETF (BATS: FLV) are not required to disclose their holdings daily. In this respect, they are more like mutual funds, and less like most ETFs – which disclose daily. Should mutual funds worry?
Venture Capital: Chinese Startups Limp Back to Face Falling Valuations, Down Rounds
It’s a painful observation, but venture capitalist firms with plenty of dry powder are looking at Chinese startups as potential multi-baggers. After the disruption of the coronavirus, startups confront difficult fundraising, lower valuations, and tighter performance expectations. But things may be turning.
Alternative Investments: The Latest 13D Filings
Even though Friday was a Holiday, electronic 13D filings continued to flow in the Securities and Exchange Commission. Breaking Down 13D Filings Michael Burry of Scion Capital filed a 13D that did not show an increase in his 5.3% ownership of GameStop (NYSE: GME). Still, he has continued to make suggestions as to what the…
FinTech: Wellpay Raises $3.8M; Offers Zero-Interest, Zero-Fee Plans To Help With Medical Bills
As healthcare providers and patients reel from the COVID-19 crisis, Wellpay steps up to help.
Fresh from a raising of $3.8 million from lead investors 8vc, Mubadala Capital-Ventures, Montage Ventures, TTCER, and Advisors.fund, healthcare fintech Wellpay has accelerated the launch of its platform.
Artificial Intelligence: accessiBE’s AI Makes the Web Accessible to the Differently-Abled
The net has become indispensable over the years, and especially more so during these days of social isolation and lockdowns due to the coronavirus pandemic. Yet, consider the plight of the blind and deaf, people with motor and cognitive disabilities, and those suffering from handicaps due to old age. They are unable to use the net because most websites are not designed for use by the “differently-abled.” accessiBE uses AI to make websites fully accessible.
DailyAlts Playbook: Academic Suppression, Cuban 2020, Loan Standards, and Daft Punk to DJ Shadow
THE DAILYALTS PLAYBOOK April 13, 2020 The DailyAlts Playbook Talks About Academic Suppression, Cuban 2020, Loan Standards, and Daft Punk to DJ Shadow PRIME OVERVIEW Good morning, We return from the holiday weekend with some greater confirmation that this virus likely didn’t come from a Seafood market in China. Of course, we won’t ever be…
Alternative Investments: Arcardia Faces Criticism for Government Program Investment Pitch
Arcadia Investment Partners faces criticism for an investment pitch that sought to generate returns from government coronavirus programs. A pitch reportedly suggested that wealthy investors could generate 22% to 175% returns through programs designed to help Americans keep their jobs. The programs – largely announced by Congress, the President and the Fed in recent weeks – also aim to boost the economy at a time it is crashing.
MSCI Research: Private Equity Firms Face a Valuation Reckoning
Private equity funds could face a huge hit to valuations as of the end of the third quarter, according to MSCI Research.
Using their private equity valuation model, they determined some private equity funds could take a Q1 write-down of portfolio companies by as much as 35%.
Investors who recently compiled their year-end valuations may have a false sense of security right now. Many could be shocked in a few months when they realize the devastation of the first quarter.
Private Equity: What Will Be the Fate of Envision Healthcare?
Private equity-backed Envision Healthcare is struggling to deal with the dramatic loss of revenues. Patients have turned to telehealth resources and canceled ambulatory surgeries. Envision provides medical staff to hospitals and operates surgery centers and is owned by KKR (NYSE: KKR). The company has seen its business drop by about 70% in a very short period of time. More than 90 of its centers are closed because of the spread of the coronavirus across the United States.
Alternative Investments: Activant Capital Announces New Infrastructure Fund
Activant Capital has announced a new $257m fund to invest in commerce infrastructure technology. Activant is a growth equity fund that invests in infrastructure platforms focused on efficiency across industries. The firm invests between $15 million to $60 million in high-growth companies.
Venture Capital: Peter Brooke, a VC and PE Legend, Passes Away at 90
Peter Brooke passed away last week at the age of 90 from congestive heart failure and pneumonia. His passing is not related to COVID.
Brooke received the moniker as the Johnny Appleseed of venture capital and private equity. Mr. Brooke built two of the largest venture capital firms in the world. He also helped fund several of the most successful companies in the world, including FedEx (NYSE: FDX) and Biogen (NASDAQ:BIIB).
Private Equity: No Bailout Coming for Portfolio Companies in Private Equity Industry?
The private equity industry is losing the fight to gain access to bailout funds provided under the stimulus package passed to help businesses recover from the economic impact of the coronavirus.
The funds are only available to companies with less than 500 employees.
While private equity firms own lots of businesses that would qualify for the funds, the legislation bundles all their affiliated companies and counts them as just one company making them ineligible for loans from the Small Business Administration.
Venture Capital: Accelerator Dcode Floats VC for Startups Working With Federal Agencies
Nearly 100 companies have graduated from the Dcode government technology accelerator program. Many of these reverted to the firm with requests for further funding. It, therefore, decided to form Dcode Capital, a venture capitalist that will invest in these companies. The capital investments will help these firms to advance national objectives, including technology and security.
Digital Assets: Exponential’s New Fund Allows Everyday People to Invest Alongside “4-Percenters”
The new $100 million Digital Asset Fund from Exponential will change that preferential treatment. Now retail investors can invest even $500 in diversified digital assets. These are companies of the future that bet on the promise of emerging and distributed ledger technologies to transition the market to a new, open, and enhanced digital economy.
Artificial Intelligence: How AI Could Change Our Lives Forever
The coronavirus will have a dual and adverse impact on people across the globe. Not only will it impact lives through sickness and death, but it will also dramatically damage their economic well-being. Technological innovation comes to the fore at the time of such pivotal crises. While cloud computing burst on the scene after the 2008 financial crisis, it may be AI’s turn to take center stage amidst, and after, the COVID-19 pandemic.
The DailyAlts Playbook: Helicopter Money, Pyromaniac Bank Rules, Black Swan Blowout, and Labor Woes
THE DAILYALTS PLAYBOOK April 9, 2020 The DailyAlts Playbook Talks Helicopter Money, Pyromaniac Bank Rules, Black Swan Blowout, and Labor Woes PRIME OVERVIEW Good morning, I am running late right now because I’m trying to wrap my head around today’s jobless claims and then the Fed’s helicopter money response. The central bank is pumping $2.3…
Liquid Alternatives: The New Theme in Town – A Work From Home ETF
Fund issuer Direxion is jumping onto the remote working bandwagon.
It has filed with the SEC for the Direxion Work From Home ETF. The ETF will track the Solactive Remote Work Index. The Index comprises 40 U.S. listed securities and ADRs that have significant exposure to “work from home” needs. These are remote communications, cybersecurity, project and document management, and cloud technologies. Furthermore, the new ETF will trade under the ticker WFH.
Digital Assets: Friday’s Barrage of Crypto Lawsuits May Not Hold Much Water, Says Lawyer Cal Evans
Litigation boutique Roche Cyrulnik Freedman unleashed Friday a torrent of class action lawsuits against seven cryptocurrency issuers and four exchanges according to Reuters. The plaint: These entities allegedly sold crypto assets worth billions of dollars to investors without complying with U.S. law relating to securities. The suits allege that the defendants did not register the digital assets with regulators and that the exchanges made money from listing the unregistered assets. The defendants include exchanges Binance, Bibox, BitMex and KuCoin, and issuers Tron, Block.one, Bancor, Civic, Kybercoin, Status, and Quantstamp. However, what really are the chances of these lawsuits succeeding? Lawyer Cal Evans weighs in on the subject.
Venture Capital: Podium Closes $125 Million Series C Round
Customer messaging platform provider Podium announced that it had closed on a $125 million Series C round of funding led by YC Continuity.
Notable investors in the financing round included high-profile investors who also participated in the financing. This list includes Sapphire Ventures, Alkeon Capital, Recruit Co. Ltd., IVP, Accel, Summit Partners, and GV.
Alternative Investments: Airbnb Raises $1 Billion to Address Coronavirus
Airbnb has managed to raise $1 billion to help run the business and pay the bills during the downturn. Most of its properties have shut down thanks to the spread of the coronavirus.
Venture Capital: Accel Gets Sweet 4X Returns on $1.2B Galileo Exit
It’s the third big one in the fintech space within a space of barely four months. In January, Visa (NYSE: V) acquired Plaid for $5.3 billion, followed by Intuit (NASDAQ: INTU) paying $7.1 billion for Credit Karma in February. In the current deal, personal finance company SoFi is buying up Galileo, a Utah-based financial services API and payments platform, for $1.2 billion in cash and stock. Accel, an investor in Galileo, has reportedly romped home with 4X returns.