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: Bakkt’s Bridge2 Acquisition Eyes Revolutionary Rewards-to-Crypto Conversion
The Intercontinental Exchange (ICE) announced Wednesday its agreement to acquire Bridge2 Solutions, a leading provider of loyalty solutions for merchants and consumers. ICE did not disclose the terms of the acquisition.
Bakkt intends to monetize for consumers the loyalty rewards programs that run on the Bridge2 platform. It will do this through its proposed Loyalty App.
Venture Capital: Cloud Security Company Netskope Raises $340 Million In A Series G
Cloud Security Company Netskope Raises $340 Million In A Series G led by Sequoia Capital Global Equities. The funding propels Netskope’s valuation to nearly $3 billion.
Artificial Intelligence: A Deep Learning Computer System Teaches Itself to Predict Extreme Weather
Researchers at Rice University have developed a computer system that taught itself how to accurately predict extreme weather events such as heatwaves and cold spells up to 5 days in advance.
Interestingly, the so-called “capsule neural network” requires very little information about current weather conditions. Instead, it uses a somewhat antiquated (analog) method of weather forecasting that was rendered obsolete in the 1950’s cue to the advent of computers.
Liquid Alternatives: Investors Get Currency Hedged Versions of Vanguard’s Flagship Japan Fund
Investors seeking currency-neutral exposure to Japanese stocks can invest in the new Vanguard currency-hedged Japan ETFs.
Vanguard has addressed a long-pending demand from European investors for currency-hedged versions of its Vanguard FTSE Japan ETF (VJPN).
The US Dollar hedge version, The Vanguard FTSE Japan USD Hedged ETF (VJPU), is listed on the London Stock Exchange and carries a total expense ratio of 0.20%.
However, the Euro hedge version, the Vanguard FTSE Japan EUR Hedged ETF (VJPE), is listed on the Deutsche Boerse with a total exchange ratio of 0.20%.
DailyAlts Playbook: The Arrest of Crypto “Michael Jordan”, ESG Battles and Bubbles, Trump’s Fed Pick – February 7, 2020
DailyAlts Playbook talks about Trump’s Latest Fed Pick, the Credit Suisse Shakeup, ESG Battles and Bubbles, and the Arrest of “Michael Jordan.”
Private Equity: Count Vanguard in as a Competitor in the Space
Vanguard, the world’s largest investment firm, has entered the private equity business. The firm will provide PE in a suite of new funds and target pensions, endowments, and other institutions. The company forged a partnership with HarbourVest to offer “qualified” investors with access to new funds. HarbourVest manages roughly $68 billion in assets.
Community Banking: Reich & Tang Reaches Deal with Smiley Technologies
Fintech firm Reich & Tang has reached a deal with Smiley Technologies, a developer and provider of core banking solutions to U.S community banks.
Community banks typically struggle to keep up with their larger competitors on high technology solutions. Smiley Technologies has worked with smaller banks to modernize and streamline core banking applications and services. These services help improve the efficiency of data management.
FinTech: Visa and AirWallex Offer Card-based B2B Payment Solution
Card giant Visa and global fintech leader AirWallex announced a global partnership to offer the Airwallex Borderless Card, a B2B card-based payment solution.
Offered initially only in Australia, the card will be introduced in the UK and Hong Kong later this year.
The companies announced the card at Pause Fest 2020, a leading innovation festival held in Melbourne.
Venture Capital: Chinese VC Investors Home In on Indian Startups
Shunwei Capital, a VC firm founded by Xiaomi founders Lei Jun and Tuck Lye Koh, has co-led a $5.5 million funding round in regional language podcast app Kuku FM. The firm manages assets of $3 billion. Interestingly, smartphone manufacturer, Xiaomi has also invested approximately $6 million in WorkIndia, an online and app-based staff recruitment network.
Digital Assets: Founding Duo of Zima Digital Assets Arrested In $7.5M Criminal Complaint
Founding Duo of Zima Digital Assets Arrested In $7.5M Criminal Complaint. The United States Secret Service arrested John Michael Caruso, 28, of Scottsdale, Arizona, and Zachary Salter, 27, of Paradise Valley, Arizona, on January 30, 2020, for allegedly conspiring to commit wire fraud and for money laundering
Private Equity: Black Dragon Capital Buys 100% of Grass Valley, a Media Technology Company
Black Dragon Capital, a private equity firm, has agreed to acquire all of Grass Valley from Belden Inc. (NYSE: BDC), reports TVTechnology. According to a statement, Black Dragon intends to take Grass Valley to the next level with a cloud-enabled, software-based business model. It intends to develop Grass Valley into a market leader in digital media and open and inclusive cloud technology.
ESG: Institutional Investors Press Hedge Funds on ESG Investing
Institutional investors are pushing hedge funds to adopt ESG in their investment decisions. These investors see ESG investing as a way to serve their own long-term interests and wider society. This is the key takeaway of a new report: Sustainable Investing: Fast-Forwarding its Evolution.
The DailyAlts Playbook: Pershing’s Coffee Sale, Bernie Madoff’s Dying Request, and Tesla’s Pullback
The DailyAlts Playbook talks Pershing’s Coffee Sale, Bernie Madoff’s Dying Request, and Tesla’s Pullback.
Artificial Intelligence: AI To Trawl Medical Data Troves To Identify ‘Cause And Effect’, Sharpen Diagnosis
There is a vast store of data from medical observational studies or randomized controlled trials accumulated over the decades. What if we could deploy an AI algo to scour this data for new illumination on “cause and effect”? Get fresh insight on symptoms and the likely disease?
Hedge Fund: Pershing Square Capital Sells Starbucks Stake
Pershing Square Capital has exited its stake in Starbucks Corporation (NASDAQ: SBUX). According to reports, Bill Ackman’s hedge fund announced the divestiture during an investor presentation today.
Private Equity: Carlyle Group Reports Fourth Quarter Earnings
Carlyle Group (NYSE: CG) is the last of the “Big Money” private equity and asset managers to report fourth-quarter earnings. It was a solid quarter for the Washington DC-based alternative investment manager, although it fell shy of last year’s results. The 2018 quarter had the extra benefit of $32 million of $32 million of net insurance recoveries, high transaction fees, and catch-up management fees that were not duplicated in the fourth quarter of 2019.
Venture Capital: The Futuristic Call That Strapped the TSLA Stock To A Booster Rocket
Whatever the description for the chart and TSLA’s price action, it’s worthwhile to look at the catalyst that sent the stock soaring over 40% higher in the last two trading sessions.
FinTech: Another Consolidation Among Legacy Payment Players; Worldline Buys Ingenico
With new-fangled fintech disruptors snapping at their heels, two legacy payment processor giants in Europe have joined forces in an $8.6 billion mega-deal. French payment company Worldline will acquire domestic rival Ingenico to create the industry’s number four player.
Artificial Intelligence: AI Fintech AiX Wants To Put Voice Brokers Out of Business
London-based fintech AiX has developed an artificial intelligence-based chatbot system that ‘talks’ to human traders at banks and institutions. It relies on natural language processing and cognitive reasoning to function as a human voice broker.
Liquid Alternatives: The KraneShares ESG China ETF Lists in London
Kraneshares, the asset management company that believes “the relationship between the US and China will be the most important economic partnership of our lifetimes,” and specializes in China-facing ETFs, launched the KraneShares MSCI China ESG Leaders UCITS ETF (KESG).
Digital Assets: Another Effort To Put Munis on the Blockchain – ConsenSys Rises to the Challenge
ConsenSys will attempt to put the stubbornly traditional municipal bonds market on the blockchain. A previous shy at the task by Neighborly, whose backers included Laurene Powell Jobs, proved stillborn.
ConsenSys will tokenize the $3.8 trillion municipal bonds (munis) market.
The DailyAlts Playbook: Tesla’s Rally, Interest Rate Cuts, Corona-covery, and “Leverage” in the Art Markets
This morning, we start with Tesla Inc. (NASDAQ: TSLA). The parabolic rise of Elon Musk’s electric vehicle company has seen its stock jump by 100% to start the year. Short sellers like David Einhorn have been on the losing end of one of the most irrational stock surges in recent memory. Shares have exploded since Rob Baron suggested that the company could generate $1 trillion in revenue in 2030.
Private Equity: Humana Enters JV to Open New Medicare Advantage Centers
Humana (NYSE: HUM), the U.S. insurance giant, has launched a joint venture with a private equity firm. The agreement will see Humana launch new primary-care centers for Medicare Advantage enrollees. Humana’s deal is with Welsh, Carson, Anderson & Stowe.
FinTech: Jenfi Has an Innovative Lending Model For SMBs in Southeast Asia
The Jenfi fintech targets small businesses that are underbanked…even in Singapore. It has an Innovative Lending Model For SMBs in Southeast Asia. Jeffrey Liu and Justin Louie, who worked together at the GuavaPass startup, started Jenfi.