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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Digital Assets: Mike Novogratz Hits Out At Sam Bankman-Fried, Calls For His Prosecution

December 2, 2022

Mike Novogratz, the billionaire CEO of Galaxy Digital (TSE: GLXY), was unequivocally critical about Sam Bankman-Fried’s virtual New York Times (NYT) Dealbook Summit interview.
“I’m hoping that the authorities get to the bottom of this faster,” Novogratz said to Andrew Ross Sorkin on CNBC’s Squawk Box on Thursday, referring to the FTX imbroglio. “Not just for the sanctity of the crypto markets, but for all markets. Markets are based on trust and when you have trust broken like this, it questions everyone else.”

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Artificial Intelligence: MGM Launches AI-Powered Clip Locator To Search Its Film And TV Library

November 3, 2022

MGM’s massive media library of film and TV has now become more easily searchable. Advertising and marketing people or researchers can use the MGM Clip Locator (currently in beta) to pinpoint all occasions of say, a specific line of dialogue across the library. What’s more, the users can even filter the results based on different parameters such as actor and title.

Alternative Investments/ESG: Hypatia, A New Fund Manager, Files For ETF On Women CEOs

November 3, 2022

Hypatia Capital Management boasts of a network of CEO-Level women, asset managers, and public board members that form its collaborative platform. The firm has formulated the Hypatia Women CEO Index (HWCEO), which is designed to measure the performance of female leadership in publicly traded companies. Hypatia has filed with the SEC for the launch of the Hypatia Women CEO ETF (ticker WCEO).

Alternative Investments/ESG: Dimensional Announces Equity ETFs Targeting Carbon Emissions

November 3, 2022

Dimensional Fund Advisors launched three new ETFs offering broadly diversified exposure to U.S., developed international, and emerging markets equities while applying climate-focused sustainability considerations – in particular, a reduction in carbon emissions exposure. The ETFs were listed on the NYSE on Wednesday and have net expense ratios varying from 0.18% to 0.41%.

FinTech: New Zealand Mulls Protection Against BNPL Debt Traps

November 2, 2022

Better checks are to be put in place to safeguard vulnerable BNPL consumers. New Zealand Commerce and Consumer Affairs Minister Dr David Clark announced that the Government intends to put in checks and balances in the Buy Now Pay Later (BNPL) financial innovation that allowed consumers to pay for their purchases in instalments. The primary…

FinTech: MoneyGram Launches Crypto Transactions Via Its App

November 2, 2022

MoneyGram International (NASDAQ: MGI) has launched crypto trading via its app, allowing customers the facility to buy, sell, and hold the bitcoin, ethereum, and litecoin cryptocurrencies. This feature is made possible through MoneyGram’s existing partnership with Coinme, a licensed crypto exchange and API-driven crypto-as-a-service provider. MoneyGram and Coinme have partnered since 2021 to expand access to crypto by creating thousands of new locations in the U.S. for consumers to buy and sell bitcoin with cash.

Venture Capital: Israel-Based Vintage, A Global Tech VC, Raises $631M For Fund-Of-Funds

November 2, 2022

Founded in 2003, Vintage Investment Partners is an Israeli investment firm managed by seven partners. It has closed its seventh fund-of-funds with a raise of $631 million, bringing its assets under management to more than $3.6 billion. A Fund of Funds type fund does not invest directly in companies, but in venture capital funds.

Venture Capital: J.P. Morgan Launches Life Sciences V.C. Team As Part Of Private Capital Platform

November 2, 2022

J.P. Morgan Asset Management today announced the launch of a new life sciences private equity team, Life Sciences Private Capital, as part of its J.P. Morgan Private Capital arm, a growth equity and private credit investment platform.

Artificial Intelligence: Meta AI Predicts The Shape Of 600 Million Proteins

November 2, 2022

Scientists at Meta (NASDAQ: META) used AI to predict the structures of approximately 600 million proteins from bacteria, viruses and other microbes that were not studied before. “Today, we announced an AI breakthrough that accelerates protein folding — the process of predicting a molecule’s shape. Our researchers have used it to create a database of the molecular structures of proteins, which are the building blocks of life on earth,” said an announcement from the company.

Alternative Investments: Teachers’ Retirement System (TRS) Of Illinois Plugs $1.5B Into Alternative Investments

November 1, 2022

Teachers Retirement Systems (TRS) said its long-term funded ratio rose 1.3% during fiscal year 2022 to 43.8%, above TRS’ average funded ratio of 40.7% over the past decade. The Teachers’ Retirement System (TRS) of the State of Illinois said it allocated nearly $1.5 billion to alternative investments, out of the $2.6 billion it committed since…

Artificial Intelligence: Israeli Research Institute MIGAL Applies AI To Quadruple Cucumbers’ Postharvest Life

November 1, 2022

The MIGAL Galilee Research Institute (MIGAL), a regional mega-R&D center supported by Israel’s Ministry of Science and Technology, has extended the postharvest life of cucumbers from two to nine weeks. The cucumber is a sensitive fruit with a high wastage rate due to its average postharvest storage lifespan of less than two weeks.

Artificial Intelligence: Silver Lake Backed Bayanat AI Triples On IPO Debut In Abu Dhabi

October 31, 2022

An Initial Public Offer (IPO) by Bayanat AI, a company owned by Abu Dhabi’s G42, and backed by IHC, the most valuable firm in the United Arab Emirates, proved to be highly successful on its trading debut today on the Abu Dhabi Securities Exchange (ADX). Shares of Bayanat AI, whose IPO was oversubscribed over 90X, more than tripled from their IPO price of 1.10 dirhams each, but closed the day at 4.10 dirhams, with gains of 272%.

Venture Capital: Indian B2B E-Commerce Platform Udaan Raises $120M

October 28, 2022

An internal email sent by Aditya Pandey, the CFO of Indian business-to-business e-commerce major Udaan revealed that the startup has raised $120 million in convertible notes and debt led by existing shareholders and bondholders.

Digital Assets: Google Cloud Launches Blockchain Node Engine, A Fully Managed Node-Hosting Service

October 28, 2022

Google Cloud announced today a product for fully managed node-hosting for Web3 development – its Blockchain Node Engine – which minimizes the need for node operations. The Blockchain Node Engine will first support the Ethereum blockchain, providing developers with fully managed Ethereum nodes with secure blockchain access.

Digital Assets: FTX CEO And Billionaire Sam Bankman-Fried Confirms The Crypto Platform May Launch Stablecoin

October 28, 2022

FTX CEO and crypto billionaire Sam Bankman-Fried said during an interview with The Big Whale that FTX would probably launch its own stablecoin, thus joining the ranks of other crypto exchanges such as Binance, with its Binance USD (BUSD) issued by Paxos, and Coinbase, which launched the USD Coin (USDC) stablecoin in collaboration with Circle.

Liquid Alternatives: Simplify Launches Two New Income ETFs With Low Correlation To Credit And Duration Risks

October 28, 2022

Simplify Asset Management as launched two new ETFs designed to enhance portfolio yield without significant credit or duration exposure, and which use sophisticated option-writing algorithms to enhance returns.

FinTech: India’s Money View In Talks To Raise $150M At $1B Valuation

October 28, 2022

Sources have told The Economic Times that Money View, an Indian fintech, is in talks to raise up to $150 million at a valuation of $900 million to $925 million pre-money and over $1 billion post-money. The sources also revealed that global private equity giant Apis Partners is expected to join as a new investor and also lead the round.

FinTech: Stripe Makes Its Debut In Thailand

October 28, 2022

Global payments network Stripe has launched operations in Thailand, competing head-to-head with other payments players including PayPal (NASDAQ: PYPL) and local players including Omise and 2C2P. Stripe has emerged from a beta phase held in Thailand over the past year during which it says thousands of companies have signed up for its services. Thailand marks Stripe’s expansion into its third Southeast Asia market, after Singapore and Malaysia.

Venture Capital: Australian VC Square Peg Raises $550M For Two Funds

October 28, 2022

Square Peg, an Australian VC firm, announced its raise of $550 million, a so-called “fifth generation” of funds, for the Square Peg Fund 4 and Opportunities Fund 2. The firm has now received capital commitments in excess of $1.6 billion since it launched a decade ago. The size and timing of the raise is noteworthy given the global macroeconomic situation and the meltdown in technology valuations.

Venture Capital: Black-Owned VC Firm Collide Capital Raises $66M From Top Investors

October 28, 2022

Collide Capital, a VC firm founded in 2016 by Brian Hollins and Aaron Samuels, seeks to back founders best positioned to solve the next generation of global challenges. The firm announced Thursday its debut VC fund of $ 66 million backed by nameplate investors. These include the University of California endowment as anchor, Citi, Bank of America (NYSE: BAC), Amazon (NASDAQ: AMZN), Alphabet (NASDAQ: GOOGL), and Twitter (NYSE: TWTR).

Artificial Intelligence: Google Acquired Alter, An AI Avatar Startup, Two Months Ago

October 28, 2022

The fact of the Alter acquisition was not made public. TechCrunch reported Thursday that Google (NASDAQ: GOOGL) had made a hush-hush acquisition of Alter, an AI avatar startup that helps developers put avatars into games and apps. The transaction, estimated at $100 million, occurred a couple of months ago but was disclosed only now to…

Alternative Investments/ESG: VanEck Launches Thematic ETF Focusing On The Circular Economy

October 27, 2022

VanEck Asset Management has launched the VanEck Circular Economy UCITS ETF (REUS), a thematic ETF focusing on the circular economy that keeps materials, products, and services in circulation for as long possible. The ETF is listed on the London Stock Exchange.

Digital Assets: Blockchain.com Launches Marqeta-Powered Visa Debit Card For Crypto

October 27, 2022

Blockchain.com has launched its Blockchain Visa debit card that leverages Visa’s (NYSE: V) payments network and Marqeta’s (NASDAQ: MQ) modern card issuing platform to let U.S. residents spend from a crypto balance fee-free and earn 1% crypto rewards.

FinTech: Bilt Rewards, The Credit Card For Renters, Lands $150M Funding

October 27, 2022

Bilt Rewards, a credit card and loyalty program offered to renters to help build their credit and earn rewards on rent payments, has landed a $150 million round led by Left Lane Capital with participation from banking giant Wells Fargo, Smash Capital, Greystar, Invitation Homes, Camber Creek, Fifth Wall and Prosus Ventures. Bilt earned a valuation of $1.5 billion in the funding.

Venture Capital: Bill Gates’ Breakthrough Energy Ventures, Temasek And Others To Launch Agritech For Rice Cultivation Decarbonization

October 27, 2022

Wavemaker Impact, Breakthrough Energy Ventures, GenZero, and Singapore’s Temasek have come together to create an innovative agritech that will promote rice decarbonization in Southeast Asia and the rest of Asia. The agritech will identify strategies to cut rice field emissions using a combination of climate-tech, agri-food, and venture-building capabilities.