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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FinTech: Divvy, Which Democratizes Home Ownership, Lands $200M
Property technology startup Divvy Homes, which helps people who don’t qualify for a mortgage to own homes, raised $200 million in a round co-led by existing investors Tiger Global Management and Caffeinated Capital. Andreessen Horowitz, Singapore’s GIC, GGV Capital, and Moore Specialty Credit also participated in the round.
Venture Capital: Venture Capitalist Chris Sacca Raises $800M For Climate Funds
Chris Sacca’s Lowercarbon Capital announced Thursday (August 12, 2021) that it raised $800 million “in fiat, to keep unf**king the planet.” “There has never been a better time to start a company focused on emissions reduction or actively removing carbon already in the atmosphere,” Sacca wrote in Cash Cools Everything Around Me, a blog announcing the raise. “The total addressable markets are literally the biggest in history and we have no doubt that multitrillion-dollar market caps are just up ahead.”
Artificial Intelligence: At Salt River, Tackling The Menace Of Invasive Plants With AI
Invasive plant species such as the Salt Cedar Tree are spreading around the Salt River, Arizona, with the seeming objective to take over the area. This could prove damaging to Salt River’s native flora and fauna, and scientists have therefore deployed drones and AI to pinpoint invasive species for removal.
FinTech: Abu Dhabi Islamic Bank (ADIB) Onboards New Clients Using Facial Recognition
Abu Dhabi Islamic Bank has become the first bank in the UAE to verify a prospective customer’s identity at the time of account opening using the facial recognition verification system from the government’s Ministry of Interior.
UAE citizens and residents can now open a new account remotely and without having to make a physical visit to an ADIB branch. The “instant and highly secure verification” gives them instant access to banking services.
Venture Capital: Aussie Alternative Meat Startup Fable Food Scores $6.5M Funding
Fable Food Co offers meat substitute foods made from Shiitake mushrooms having dense, fleshy fibers and umami flavors that are naturally meat-like. The Sydney, Australia-based startup has raised $6.5 million in a round led by Blackbird Ventures with participation from AgFunder, Aera VC and Better Bite Ventures, Ban Choon Marketing Pte Ltd, and Warren Hogarth.
Alternative Investments: Alts Offer Most Effective Downside Protection – Smith & Williamson
According to Smith & Williamson Investment Management’s Managed Portfolio Service, alternatives will perhaps offer the most effective protection against market declines over the coming decade. Fixed income allocations, which traditionally were the investors’ fall-back in times of market turmoil, may not be as effective, and going forward, alternatives are better suited for diversifying investment portfolios and controlling risk.
Digital Assets: Neuberger Berman Allows Crypto Investments in Commodity Strategy Fund
In an SEC filing, the Neuberger Berman Commodity Strategy Fund has permitted actively managed exposure to cryptocurrency investments and digital assets through i) cryptocurrency derivatives, such as bitcoin futures and ether futures, and (ii) investments in bitcoin trusts and exchange-traded funds to gain indirect exposure to bitcoin.
Artificial Intelligence: AI-Powered Home Surveillance Imposed On Call Center Employees Working For US Corporations
An NBC News investigation has revealed that Colombia-based call center employees of Teleperformance (EPA: TEP), which has companies such as Apple (NASDAQ: AAPL), Amazon (NASDAQ: AMZN), and Uber (NYSE: UBER) on its client roster, are being asked to sign contracts allowing for the installation of AI-powered cameras at home. NBC News reviewed such a contract, first issued by Teleperformance in March.
Venture Capital: 80 Acres Farms Lands $160M Series B
80 Acres Farms, which grows its products of just-picked salads, tomatoes, cucumbers, herbs, and microgreens in eight indoor and vertical farms, has raised $160 million in additional funding in a round led by General Atlantic and joined by Siemens Financial Services, Inc. (the U.S. financing arm of global technology company Siemens (ETR: SIE)). Blue Earth (formerly PG Impact Investments) and General Atlantic’s Beyond Net Zero team also participated alongside existing investors Barclays and Taurus.
Alternative Investments/ESG: Hartford Funds Launches US Equities ESG ETF
Hartford Funds announced the launch of the Hartford Schroders ESG US Equity ETF (CBOE: HEET), which seeks seeks long-term capital appreciation by investing in a diversified portfolio of US equities that are expected to meet environmental, social, and/or governance (ESG) criteria. In addition, it will weigh factors such as value, profitability, momentum, and low volatility.
FinTech: M&A Deals Of Note
Three transactions this week cover bill payments, investment communications, and paperless invoices. Fintech M&A to note: Payveris-Paymentus Payveris, an open-API, cloud-based digital payments and money movement platform for financial institutions and their digital partners has acquired Paymentus, an integrated, omni-channel platform for electronic bill payments. The transaction value is $152.2 million, with approximately 56% payable…
Digital Assets: “Dear Hacker, Please Give Us Back The $600M You Stole.”
In what could be the biggest crypto heist ever, a criminal hacked $600 million worth of tokens from Poly Network. But there’s a twist in the tale. Though the hacker exploited a vulnerability in blockchain network Poly Network and made off with that huge amount, it seems they had a change of heart and have started returning the stolen assets.
Artificial Intelligence: AI Helps Researchers Understand Extreme Weather In The Midwest
Extreme precipitation days in the Midwest account for over half of all major US flood disasters. Researchers at Stanford University have developed a machine learning tool that helps them analyze the causes of long-term changes in weather and the mystery of why extreme precipitation days in the Midwest are becoming more frequent.
Venture Capital: Turkish Ecommerce Firm Trendyol Lands $1.5B, Turns Decacorn
Trendyol is Turkey’s largest e-commerce company, serving more than 30 million shoppers and delivering more than 1 million packages per day. Alibaba (NYSE: BABA) backed Trendyol announced Monday it had received commitments worth $1.5 billion in a funding round co-led by General Atlantic, SoftBank Vision Fund 2, as well as Princeville Capital and sovereign wealth…
Alternative Investments/ESG: Global X Files For New Solar And Wind ETFs
New York-based fund management company Global X proposes to issue two new ETFs focused on renewable energy. It has filed with the SEC for the launch of the Global X Solar ETF (RAYS) and the Global X Wind Energy ETF (WNDY), the two ETFs adding to its existing range of 84 ETFs.
Digital Assets: India’s CoinDCX Crypto Exchange Turns Unicorn After Saverin-Led Round
Facebook co-founder Eduardo Saverin’s B Capital led CoinDCX’s $90 million Series C round that catapulted the Indian crypto exchange into the unicorn club with a valuation of $1.1 billion. CoinDCX also became the first Indian crypto company to achieve this status.
FinTech: Millennials Driving Demand For Shariah (Islamic) Banking – Mambu
A survey by SaaS cloud banking platform Mambu found that over half (53%) of young Muslims said they would choose Islamic banking – if barriers to entry were removed, and it became more accessible.
Artificial Intelligence: GE Healthcare Launches AI-Powered, Cloud Imaging Solution For Radiologists
GE Healthcare has launched Edison True PACS, a diagnostic imaging and workflow solution designed to make life easier for radiologists. A rising demand for imaging scans, an acute shortage of radiologists amid burnouts and retirements, and the high capital and IT costs of equipment have put healthcare enterprises under enormous pressure. Edison True PACS (Picture Archive and Communication System) is offered to address these problems.
Digital Assets: Melanion Capital Launches First Bitcoin UCITS ETF In The EU
Melanion Capital, a Paris-based asset manager specializing in derivatives and computer-driven strategies, has been greenlighted by French regulators to launch a bitcoin UCITS ETF. This is a major landmark for the adoption of cryptocurrencies because the EU would be a potentially large market and one that has lacked an investment vehicle with the coveted UCITS tag – which signifies higher regulatory protection.
Venture Capital: Boeing Hives Off Venture Arm Into JV With Private Equity Firm
Boeing (NYSE: BA) will spin off its HorizonX venture capital arm into a strategic partnership with private equity firm AE Industrial Partners, the aerospace major announced last week. Founded in 2017, HorizonX has invested in 40 tech companies and startups, and will function as AE’s ventures platform titled AEI HorizonX. AE will manage the fund, which will receive capital from Boeing, AE and others.
Alternative Investments/ESG: Invesco Launches Solar Energy Ucits ETF
Invesco’s new Solar Energy UCITS ETF invests in the solar industry including solar power equipment producers, solar energy storage companies, raw materials suppliers and solar power system installers. These companies are global leaders in their functional areas of solar energy technology.
FinTech: Malaysian Airline AirAsia Raises $100M For Fintech Arm
South Korean conglomerate SK Group (KRX: 034730) has agreed to invest up to $100 million in BigPay, a unit of the fintech arm of budget Malaysian airline AirAsia. BigPay offers a prepaid debit card, local and international money transfers, micro-insurance, bill payments, and a budgeting tool. Founded in 2017, BigPay has ambitions to become a challenger bank and democratize financial services for Southeast Asian consumers and entrepreneurs.
Artificial Intelligence: HEGG, A New Vegan Egg Product From Singapore
Hoow Foods, a Singapore-based startup, has incorporated Hegg Foods, a plant-based subsidiary that will develop innovative and sustainable products using RE-GENESYS, Hoow Foods’ proprietary food & ingredient Artificial Intelligence (AI) platform.
Artificial Intelligence: AI To Participate In The Galileo Project’s Hunt For Alien Technology
A group of researchers led by Harvard professor Avi Loeb has launched the Galileo Project, a new venture that will use AI, telescopes, and astronomical surveys to hunt for evidence of “extraterrestrial technological civilizations” (ETCs).