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: NYDIG Builds On Solid Q3 With $720M Raise, And C-Suite Rejig
Bitcoin company NYDIG on Monday announced top-level changes, promoting executives Tejas Shah and Nate Conrad to the roles of CEO and President, respectively. Shah and Conrad were previously NYDIG’s Global Head of Institutional Finance and Global Head of Payments, respectively. Prior to joining NYDIG in 2020, Shah had a nearly 20-year career at Goldman Sachs where he was a partner. Conrad joined Stone Ridge in 2016 and NYDIG in 2020, after also beginning his career at Goldman Sachs.
Venture Capital: French Cultivated Meat Startup Gourmey Lands €48M For Foie Gras Facility
Paris-based cultivated foie gras startup Gourmey raised 48 million euros ($48 million) to construct a 46,000-square-foot plant to produce lab-grown foie gras, and later for the production of other kinds of cultivated poultry meat. Earlybird Venture Capital led the round which also saw participation by Keen Venture Partners, Omnes, Discovery Ventures, Thia Ventures, Future Five, and Fidji Simo.
FinTech: U.S. Bank Launches Cash Flow Projection Tool For SMBs
A new online banking tool from U.S. Bank (NYSE: USB) will enable small businesses to forecast their cash flows for the next 90 days, as well as get a 90-day historical view. Businesses can even use both internal and external data sources to gain more comprehensive cash flow insights, said a statement from U.S. Bank.
Alternative Investments/Digital: Bitwise Asset Management Launches Web3 ETF
Bitwise Asset Management, the world’s leading crypto index fund manager with more than $1.3 billion in assets under management, has launched the Bitwise Web3 ETF (ticker: BWEB). The ETF will provide investors with exposure to companies that will ride the coming boom from Web3 – the third stage of the evolution of the internet.
Artificial Intelligence: The White House Issues A 5-Point ‘AI Bill Of Rights’
The White House Office of Science and Technology Policy on Tuesday issued guidelines titled “Blueprint for An AI Bill of Rights” meant to protect all people from threats including limiting their access to equal opportunity; prevent access to critical resources or services; and undermining their privacy, or tracking their activities.
FinTech: Mastercard Brings New Benefits To Small Business Cardholders
Mastercard (NYSE: MA) has announced a slew of new and expanded benefits for its small business cardholders through partnerships and tieups including Adobe, McAfee, Priority Pass, ShopRunner, Stride and Uber. The card giant intends to provide efficiency and creativity to daily operations as well as fortify businesses’ online and security infrastructure.
Artificial Intelligence: The UK’s National Robotarium Teams With Scottish Fire To Create AI-Powered Fire-Fighting Helmet
The National Robotarium and Scottish Fire and Rescue Service have conducted trials on a helmet that incorporates AI technology to help firefighters quickly map their surroundings, navigate hazardous environments and efficiently locate fire-scene victims. The announcement of the innovative helmet came simultaneously with the opening of the National Robotarium on September 28.
Alternative Investments/ESG: BNP Paribas Launches Biodiversity Focused ETF In Europe
The BNP Paribas Easy ESG Eurozone Biodiversity Leaders PAB UCITS ETF, which offers investors exposure to companies with a lower potential impact on biodiversity than their peers, listed since 29 September on Euronext Paris and Deutsche Börse Xetra exchanges.
Alternative Investments/ESG: New CSOP ETF Listing On SGX Invests In Low Carbon Companies In The APAC Region
CSOP Asset Management has listed the CSOP CGS-CIMB FTSE Asia Pacific Low Carbon Index ETF on the SGX. The ETF is tradable in both SGD and USD currencies and offers investors the opportunities presented by low carbon transition in the APAC region with excellent diversification and tradability at a minimal investment of only USD 1.
Alternative Investments/ESG: New WisdomTree ETF Addresses Decarbonization Innovation In Auto Sector
WisdomTree has launched the WisdomTree Global Automotive Innovators UCITS ETF to provide investors with exposure to the theme of innovation in transportation covering the twin objectives of evolving mobility needs and the decarbonization of a sector that accounts for around 12% of greenhouse gas emissions.
Digital Assets: Uniswap To Raise Between $100M – $200M ; Could Nab Unicorn Status
A report by Tech Crunch said Friday that Uniswap Labs is in preliminary discussions for a fundraising of $100 million – $200 million and could command a valuation of around $1 billion, thus acquiring the hallowed ‘unicorn’ status. The company is the parent of Uniswap, the biggest decentralized exchange in the world that commands 64% of all DEX volumes, according to DeFi Llama. Further, it is significant that the exchange protocol’s token has a market cap of nearly $5 billion despite the bear market in crypto assets.
FinTech: Big Banking Names (Read: BNY Mellon, JPM, Citi, BankAm, Goldman Sachs) Back AccessFintech
AccessFintech raised a $60 million Series C funding round, led by WestCap with investment from BNY Mellon and Bank of America, with repeat participation from existing investors Dawn Capital, J.P. Morgan (NYSE: JPM), Goldman Sachs (NYSE: GS) and Citi Group (NYSE: C).
Venture Capital: African Fintech Numida Nabs $12.3M Round Led By Serena William’s VC Firm
Numida, a Ugandan fintech which seeks to grow African small businesses through access to digital and unsecured working capital, has raised $12.3 million in a equity-cum-debt funding. Serena Williams’ venture fund Serena Ventures, led a $7.3 million portion of equity funding with participation from Breega, 4Di Capital, Launch Africa, Soma Capital, Y Combinator, and MFS Africa. Lendable Asset Management funded the rest of $5 million as debt.
Artificial Intelligence: Tesla Displays Optimus, A Humanoid Robot, At Its AI Day Event
At its much-anticipated AI Day on Friday, Tesla (NASDAQ: TSLA) brought on stage a prototype of its Optimus humanoid robot slated for mass production in 3-5 years at a target price of less than $20,000. The humanoid is aimed at solving all kinds of boring and repetitive tasks, especially in the context of labor shortages.
Alternative Investments/DA: BlackRock Debuts Blockchain ETF In Europe
BlackRock (NYSE: BLK), the largest asset manager in the world, launched last week the iShares Blockchain Technology UCITS ETF [BLKC] targeted at European investors looking for exposure to blockchain and crypto technologies.
Venture Capital: LIVIN Farms, A Provider Of Bugs On Subscription, Raises €6M Series A
LIVIN Farms, an industrial technology provider in the alternative protein industry, has developed HIVE PRO, a fully automated process that allows waste management companies and large scale food producers to convert organic waste and by-products into revenue earning proteins, fats, and fertilisers using insect larvae. The company raised a EUR 6 Million Series A round led by venture investor Peter Luersse.
Digital Assets: Sam Bankman-Fried’s FTX US Wins Auction For Voyager Digital’s Bankruptcy Assets With $1.4B Bid
West Realm Shires Inc., dba FTX US, has won the bankruptcy auction for the assets of Voyager Digital with a bid of about $1.422 billion. It was held to be the best and highest bid after an auction process that included multiple rounds of bidding over a period of two weeks.
Artificial Intelligence: Clearview Nabs Patent For Technology That Creates Bias-Free Algorithms
Clearview AI announced its win of the “Scalable Training Data Preparation Pipeline And Efficient Distributed Trainer For Deep Neural Networks In Facial Recognition” patent (U.S. Patent No. 11,443,553) issued by the U.S. Patent and Trademark Office (USPTO). The patented technology is able to create highly accurate, bias-free facial recognition algorithms from publicly available information.
Alternative Investments/ESG: The Newday Sustainable Development Equity ETF
Newday offers portfolios addressing the world’s most pressing environmental and social issues including climate action, ocean health, clean water, diversity, equity and inclusion, wildlife conservation and animal welfare, and stakeholder capitalism. It manages its portfolios in alignment with the 17 United Nations Sustainable Development Goals (pictured above) to affect positive change. Earlier this month, it launched the Newday Sustainable Development Equity ETF (SDGS).
Artificial Intelligence: Disperse Raises $16M For AI-Enabled Construction
Disperse, a provider of AI software that streamlines processes and productivity at construction projects, has raised $16 million in a funding round led by 2150 with participation by existing investors including Northzone and Kindred Capital. The company will use the new funds for product advancements and expanding the go-to-market function in the Americas. Disperse systems will support project managers during a recessionary environment, volatility in labor and materials markets, and other typical operational issues.
Digital Assets: Do Kwon Not In Singapore; Interpol Issues Red Notice For The Terra Co-Founder
According to a Bloomberg report, South Korean authorities have confirmed in a text message Monday that Interpol had issued a Red Notice for Kwon, requesting law enforcement forces globally to locate and arrest Do Kwon, the co-founder of the ill-fated Terraform Labs. Kwon is accused in South Korea of various crimes, including violations of capital market law, and courts there have already issued a warrant for his arrest.
Venture Capital: ffVC Steps In To Fill Funding Void, Launches Fund For Ukrainian Startups
ff Venture Capital, or ffVC, an early-stage venture firm focused on global opportunities, launched the ff Blue & Yellow Heritage Fund, the first US venture capital fund exclusively for Ukrainian founders and startups. Of the targeted amount of $50 million the new fund has already received commitments for $30mm from institutional, family offices and corporate investors.
Artificial Intelligence: James Earl Jones Agrees To AI Cloning His Voice For Darth Vader
A Ukrainian startup called Respeecher took up the task of using AI to recreate Jone’s voice in Disney Plus’ Obi-Wan Kenobi. According to The Verge, which cited Vanity Fair, Jones had signed off rights to his archival voice work.
FinTech: Finastra To Offer Banks Cross-Border Payments Via Visa Direct
Thousands of banks and financial institutions can now offer cross-border payments for small- and medium-sized businesses, and individuals, in multiple currencies and countries, via a Finastra-Visa Direct tie-up. This BaaS offering is a cost-effective alternative to deploying a custom-built cross-border payment solution that could be both expensive and time-consuming for banks in the current environment.