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.
Path-breaking corporate bitcoin investor MicroStrategy (NASDAQ: MSTR) said in a filing Monday that it purchased approximately 7,002 bitcoins for about $414.4 million in cash, or $59,187 per coin, between October 1 and November 29 – a classic ‘buy-the-dip’ operation as financial markets reel from the implications of a new, highly mutated virus.
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Formstack, a platform that allows customers to digitize their workflows including forms, documents, and e-signatures without having to code, announced its raise of a $425 million growth investment led by Silversmith Capital Partners and returning investor PSG.
Venture Capital: Generate Biomedicines, Which Uses Machine Learning To Invent New Drugs, Raises $370M
Generate Biomedicines, which uses its machine learning powered Generative Biology platform to make novel proteins with specific therapeutic functions, and thereby invent new drugs at never-before speeds, has raised a $370 million Series B. Investors in the round, which marked Generate’s first outside financing, included founder, Flagship Pioneering, along with several institutional co-investors.
Faith Investor Services has filed for the launch of the FIS Biblically Responsible Risk Managed ETF which brings “Christian values” to stock investing. The ETF will trade on the NYSEARCA exchange and will invest in equities both at home and internationally.
A month after successfully closing a monster $900 million round that valued it at more than $9 billion, German fintech and challenger bank N26 has announced it is shuttering the US business that it launched in July 2019. It is the latest setback for the company, which has had long-standing issues with German regulator BaFin, and exited its UK operations last year after that country pulled out from the EU.
A multispecies, AI-based model jointly developed by Heathrow, Microsoft (NASDAQ: MSFT) and Smiths Detection has shown, in initial trials, a success rate of over 70% in its detection of illegally trafficked wildlife concealed in baggage and air cargo.
RM Sotheby’s announced Wednesday it will accept cryptocurrency payments via BitPay, the world’s largest provider of bitcoin and crypto payment services. The auction house said the move would allow it to access new business by tapping into the crypto marketplace. The BitPay payment system at RM Sotheby’s will commence for the first time at the Guikas Collection sale on November 19, said to be one of the most significant offerings of sports and competition cars to be ever offered at auction.
ETF provider Global X ETFs announced today its launch of seven new UCITS ETFs in Europe that would trade on the London Stock Exchange and Xetra. The seven new ETFs complement Global X’s existing five thematic UCITS ETFs launched after Global X entered Europe in December 2020. The new ETFs center around disruptive, digital transformation around the world.
Lacework, the cloud security platform, announced today the largest funding round in the history of the security industry. The six-year-old startup’s $1.3 billion Series D round was led by existing investors Sutter Hill Ventures, Altimeter Capital, D1 Capital Partners, and Tiger Global Management with participation from new investors including Counterpoint Global (Morgan Stanley), Durable Capital, Franklin Templeton, General Catalyst, and XN. Coatue, Dragoneer, Liberty Global Ventures, and Snowflake Ventures, all existing investors, also participated.
Is there a bubble forming in fintech? Billionaire investor and CEO of investment firm J C Flowers & Co seems to think so, pointing to soaring valuations of financial technology companies. “I think there are a lot of indicators that there is a bubble” in fintech, Flowers told CNBC’s Annette Weisbach in an interview.
Artificial Intelligence: Global Pharma Company Sanofi Invests $180M In French American AI Startup Owkin
Sanofi (NASDAQ: SNY) announced today an investment of $180 million in Owkin, a Paris-based startup that utilizes AI and federated learning for medical research. Owkin’s platform connects life science companies with academic researchers and hospitals to share deep medical insights for drug discovery and development. Additionally, as a part of its AI-empowered precision medicine activities, Owkin builds predictive biomedical AI models and robust data sets.
The proposed ETC Group Digital Assets & Blockchain Equity UCITS ETF (KOIN) from long-time collaborators ETC Group and HANetf will offer thematic exposure to companies active in the digital assets and blockchain system.
Monarch Tractor, which made the first fully electric tractor announced today the close of its $61 million Series B round that will help accelerate production and deployment of the smart, driver-optional, electric tractor known as the MK-V.
Buy-Now-Pay-Later (BNPL) is fast spreading its wings across the world. Here are some new developments.
In a sign of the times, Magnum Real Estate Group is offering a set of retail condos worth $29 million for payment against bitcoin only, a first for commercial property in the Big Apple. The condos, covering 9,000 square feet, are in a newly constructed luxury residential building with the bottom floor already leased fully to ProHealth, Mighty Pita and M&T Bank. The proposed sale shows the growing adoption of cryptocurrencies, fanning out from coffee and cars and into condos.
Paris-based Cardiologs, which specializes in AI-enabled cardiology diagnostics, announced Tuesday that a clinical study proved its deep learning AI outperformed the Apple Watch ECG algorithm in the detection of atrial arrhythmias (AA), which are related to stroke risks.
Fintech Upgrade announced its $280 million Series F round led by Coatue Management and DST Global. Dragoneer Investment Group and existing investors including Gopher Asset Management, G-Squared, Koch Disruptive Technologies, Old Well Partners, Ribbit Capital, Sands Capital, Ventura Capital and Vy Capital also participated in the round.
Faire, a wholesale ecommerce platform that serves as a bridge between independent brands and small business owners looking for affordable merchandise, announced its $400 million Series G raise co-led by investors Durable Capital Partners LP, D1 Capital Partners, and Dragoneer Investment Group.
Amplify ETFs has filed for the launch of the Amplify Enhanced Inflation Beneficiaries ETF, which will provide investors exposure to businesses that benefit from inflationary pressures, such as companies whose revenues are expected to increase with rising consumer demand for land, increased rental income or higher raw-materials prices.
Investment firm Paradigm believes that while the internet set the stage for innovation in the previous decades, crypto will define the next few ones. Accordingly, it invests in promising crypto companies, protocols and currencies of tomorrow. Its humongous new $2.5 billion venture fund, announced Monday, will invest in next-gen crypto companies and protocols, alongside the existing flagship fund.
An Albertsons (NYSE: ACI) store at Eagle, Idaho, is going all out to enhance the in-store experience for its shoppers by providing smart shopping carts made by Seattle-based startup Veeve. By equipping carts with enhanced features such as cameras, an interaction screen, even a weighing scale, they hope to make shopping in the store faster, easier and more efficient.
Marathon Digital (NASDAQ: MARA) announced today plans to offer convertible senior notes amounting $500 million to qualified institutional buyers in a private offering. The crypto mining company said it intended to use the net proceeds from the offering for corporate purposes including to acquire bitcoin, or bitcoin mining machines. The notes will be due 2026 and will accrue interest payable semi-annually in arrears.
Bioenergy Devco last week raised $100 million from funds managed by alternative investment manager Irradiant Partners, a firm which specializes in climate infrastructure, private equity and credit. Bioenergy Devco creates renewable, carbon-negative energy by recycling organic waste using its proven anaerobic digestion technology.
Yieldstreet, the multi-asset platform for alternative investments, announced the launch of its new fund, the Art Equity Fund. The new fund is a precursor to a series of new funds that will allow retail investors the opportunity to enjoy fractional ownership in a portfolio of prominent physical art works. The Art Equity Fund will own a portfolio of artworks by Post-War and Contemporary artists, Keith Haring, George Condo and Kenny Scharf.
Researchers at the Krieger School at John Hopkins University used night vision and AI to unravel the secret methods that spiders use to create their webs in the dark. Their findings are due to publish in the November issue of Current Biology.