How JPMorgan and BlackRock are thinking of playing fund manager M&A

  • Top brass from JPMorgan and BlackRock, among the firms to kick off earnings season with their results, said Tuesday that they expect more consolidation in the wealth- and asset-management industries.
  • Pressures on money managers have fueled a flurry of acquisitions in those areas this year, and analysts questioned executives about their own deal ambitions, albeit coming from different corners of the market. 
  • JPMorgan boss Jamie Dimon said the bank would be “very interested” in deals in that space, and BlackRock finance chief Gary Shedlin said the firm was focused on targets that could expand its technology, global distribution, and private markets capabilities.
  • Last week, Morgan Stanley said it would buy investment manager Eaton Vance in a deal valued at $7 billion just days after it closed on its E-Trade acquisition. 
  • Visit Business Insider’s homepage for more stories.

Top brass at the world’s largest asset manager and largest US bank told

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1,000 Dreams Fund and HARMAN Unite to Award ‘New Face of Tech’ Scholarships

The goal of the scholarship program is to foster the passions of the next generation of female tech leaders by opening doors to their future career goals and aspirations. This year, 40 aspiring changemakers in tech will be selected to receive a $1,500 grant each and a JBL product, obtain career coaching from a HARMAN executive, build resume skills, and have an opportunity to interview for an employment opportunity at HARMAN, a global leader in consumer electronics and connected technologies for the home, office, and car.

In light of the unprecedented challenges many college women are facing due to COVID-19, HARMAN has expanded its commitment to 1,000 Dreams Fund to help even more young women fund their dreams. The two organizations make a powerful team, and since the program’s launch in 2017, over $50,000 has been granted to inspiring young women in tech throughout the country. Additionally, 1DF is a

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Chrysalix RoboValley Fund Invests in Sortera Alloys, Developers of a Breakthrough Technology …

Vancouver, BC and Delft, Netherlands , Oct. 13, 2020 (GLOBE NEWSWIRE) — Chrysalix Venture Capital, a global venture capital fund with a long history commercializing step-change innovation for resource intensive industries, announces an investment in Sortera Alloys, developers of an intelligent sorting system for the upcycling of non-ferrous scrap metal, including Aluminum, Copper, Zinc and Brass. The system enables accurate, high throughput sorting by metal type and alloy composition through a combination of sensor fusion (XRF, Optical), AI/ML image processing and an advanced scrap feeder design. 

“Chrysalix is making the circularity of metals a major theme of our new fund. Primary aluminum production accounts for 1% of global GHGs and to achieve the forecasted global demand and climate change targets, the industry must deliver significant decarbonization,” said Alfred Lam, Partner at Chrysalix Venture Capital. “Sortera’s sorting systems enable the recyclability of aluminum for high-value end products thereby saving up to

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Indonesia’s AC Ventures Targets New $80 Million Startup Fund

(Bloomberg) — AC Ventures, an Indonesia-focused venture capital firm, said it completed the first close of a planned $80 million technology investment fund.



a crane next to a body of water with a city in the background: A crane stands at a construction site in this aerial photograph taken in Jakarta, Indonesia, on Friday, Feb. 1, 2019. Indonesia is scheduled to release fourth-quarter gross domestic product (GDP) figures on Feb. 6.


© Bloomberg
A crane stands at a construction site in this aerial photograph taken in Jakarta, Indonesia, on Friday, Feb. 1, 2019. Indonesia is scheduled to release fourth-quarter gross domestic product (GDP) figures on Feb. 6.

The Jakarta-based company raised $56 million at the first close, according to its partners. The fund will invest in about 30 early-stage startups in areas including e-commerce and financial technology in the next three years.

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AC Ventures was established in 2019 after two homegrown Indonesian VC firms — Agaeti Ventures and Convergence Ventures — merged to create scale. Its three founding partners are Pandu Sjahrir and Michael Soerijadji, previously general partners of Agaeti Ventures, and Adrian Li, the former founder of Convergence Ventures. Together, they have backed more than

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AC Ventures Targets New $80 Million Indonesian Startup Fund

AC Ventures, an Indonesia-focused venture capital firm, said it completed the first close of a planned $80 million technology investment fund.

The Jakarta-based company raised $56 million at the first close, according to its partners. The fund will invest in about 30 early-stage startups in areas including e-commerce and financial technology in the next three years.

AC Ventures was established in 2019 after two homegrown Indonesian VC firms — Agaeti Ventures and Convergence Ventures — merged to create scale. Its three founding partners are Pandu Sjahrir and Michael Soerijadji, previously general partners of Agaeti Ventures, and Adrian Li, the former founder of Convergence Ventures. Together, they have backed more than 100 tech ventures.

relates to Indonesia’s AC Ventures Targets New $80 Million Startup Fund

From left to right: Michael Soerijadj, Pandu Sjahrir and Adrian Li.

The firm will have a strategic alliance with Indies Capital, an alternative asset manager with more than $600 million of assets under management where Sjahrir serves

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New Bahrain-based $60 million MENA VC fund sees post-COVID tech wave

DUBAI (Reuters) – A new Bahrain-based $60 million venture capital fund aims to invest in 120 early-stage start-ups across Arabic-speaking MENA countries, banking on the regional growth of tech and tech-enabled business in the post-coronavirus world.

Plus Venture Capital (+VC) aims to close fundraising before the end of the year, which is expected to come from mostly regional institutional investors and family offices.

“We think that future growth in the region will be coming from tech-enabled business; for GDP and for job creation. We saw it happen in the last two recessions,” Plus Venture Capital co-founder Sharif El-Badawi said.

They will make seed stage and series A investments.

As part of efforts to tackle its deficit and diversify the economy, Bahrain has been trying to re-establish itself as a regional finance centre after losing ground to Dubai, and has been marketing itself as a financial technology and start-up hub for

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Launching two years, it has become an emerging market fund like no other



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It has been a tricky debut for Mobius Investment Trust since its launch on the London Stock Exchange two years ago. 

The £100million fund, investing in under-researched and little known emerging market companies, has had to cope with a difficult stock market backdrop – with its share price falling back more than 20 per cent in March this year as the coronavirus pandemic panicked markets worldwide. 

Although the shares have since bounced back strongly – 47 per cent over the past six months – they are trading at around their £1 launch price. 

Yet manager Carlos Hardenberg is convinced the trust, with its focus on small technology firms, healthcare stocks and companies specialising in online educational tools, offers an outstanding opportunity for investors to make long-term returns. 



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‘It’s been a challenging and exciting two years,’ says

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An emerging market fund like no other



MailOnline logo


© Provided by This Is Money
MailOnline logo

It has been a tricky debut for Mobius Investment Trust since its launch on the London Stock Exchange two years ago. 

The £100million fund, investing in under-researched and little known emerging market companies, has had to cope with a difficult stock market backdrop – with its share price falling back more than 20 per cent in March this year as the coronavirus pandemic panicked markets worldwide. 

Although the shares have since bounced back strongly – 47 per cent over the past six months – they are trading at around their £1 launch price. Yet manager Carlos Hardenberg is convinced the trust, with its focus on small technology firms, healthcare stocks and companies specialising in online educational tools, offers an outstanding opportunity for investors to make long-term returns. 



diagram


© Provided by This Is Money


‘It’s been a challenging and exciting two years,’ says

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Robert Covington And Luol Deng Invest In Real-Estate Fund Aiming To Revitalize Chicago

In September, Own Our Own, an inner-city-focused real-estate fund, announced its first Chicago-based project in partnership with the Houston Rockets’ Robert Covington and former Chicago Bull Luol Deng. Further strengthening the project is a partnership with the Chicago Urban League and the NBPA Foundation, which will fund initiatives around physical fitness and mentorship. 

After being drafted to the Bulls in 2004, Deng spent his first ten years in Chicago, and he signed a one-day

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AI Startup Vestun Launches Hedge Fund Navigating Market Turbulence

Swiss-based AI company Vestun opens its market agnostic hedge fund strategy to new outside investors.

Vestun

Swiss-based AI company Vestun opens its market agnostic hedge fund strategy to new outside investors.
Swiss-based AI company Vestun opens its market agnostic hedge fund strategy to new outside investors.
Swiss-based AI company Vestun opens its market agnostic hedge fund strategy to new outside investors.

Zurich, Switzerland, Oct. 07, 2020 (GLOBE NEWSWIRE) — Vestun, a Swiss-based financial and technology company has now opened the launch of its hedge fund to new outside investors. The firm which until now has been only managing its own capital announced that its investment vehicle will open to institutional investments including banks, multi-family offices and asset managers within certain jurisdiction. 

The company flagship strategy trades liquid US equities systematically. The strategy is designed to autonomously adapts its portfolio and risk exposure dynamically to the prevailing market conditions. In contrast to traditional systematic strategies, Vestun’s approach does not rely on statistical rules and historical events

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