Hedge Fund, VC Bosses Rowed in to Fund Truss Leadership Campaign (Financial News)
Hedge fund and venture capital bosses put hundreds of thousands of pounds behind Liz Truss’s leadership campaign, latest disclosures show, as the City continues to pressure the new prime minister to live up to her promises of supporting financial services. Truss’s leadership campaign, which leant heavily on plans to scrap former EU regulation and spark Big Bang 2.0 for the City, scooped around £500,000 in donations, half of which came from the world of finance, according to records first reported by The Guardian.
Investment Manager Hamilton Lane to Tokenize Three Funds (Opalesque)
Investment management firm Hamilton Lane (HLNE) will tokenize three of its funds in a partnership with digital-asset securities company Securitize. The global private markets investment firm, which managed or supervised $832 billion in assets as of June 30, said in a press release that it plans to give qualified U.S.-based investors access to funds providing exposure to direct equities, private credit, and secondary transactions, which will be tokenized via Securitize’s digital transfer agency.
Tiger Global Targets $6 Billion for New Venture Capital Fund (Bloomberg)
Tiger Global Management is seeking $6 billion for its next venture fund, even after writing down the value of its private portfolio and as institutional investors pull back from the asset class. That’s less than the $8 billion some clients had initially been told the firm would likely target, as markets have changed and as Tiger Global focuses more on early-stage venture bets, according to people familiar with the matter, who asked not to be identified discussing private communications. The figure is also less than half the size of the preceding vintage.
Thursday 10/6 Insider Buying Report: BHVN, OTLK (Nasdaq.com)
At Biohaven Pharmaceutical Holding, a filing with the SEC revealed that on Wednesday, John W. Childs bought 274,141 shares of BHVN, at a cost of $8.98 each, for a total investment of $2.46M. Childs was up about 41.6% on the purchase at the high point of today’s trading session, with BHVN trading as high as $12.71 in trading on Thursday. Biohaven Pharmaceutical Holding is trading down about 1.5% on the day Thursday. This buy marks the first one filed by Childs in the past twelve months. And at Outlook Therapeutics, there was insider buying on Wednesday, by Director Kurt J. Hilzinger who bought 111,203 shares at a cost of $1.28 each, for a total investment of $142,512. Before this latest buy, Hilzinger made one other purchase in the past twelve months, buying $256,970 shares for a cost of $1.47 a piece. Outlook Therapeutics is trading up about 4.4% on the day Thursday. Hilzinger was up about 4.6% on the buy at the high point of today’s trading session, with OTLK trading as high as $1.34 in trading on Thursday.
$17 Million Bet On This Technology Stock? 3 Stocks Insiders Are Buying (Benzinga)
Braze: The Trade: Braze, Inc. (BRZE) Director Matthew Jacobson acquired a total of 488,640 shares an average price of $34.72. To acquire these shares, it cost around $16.97 million. Tricida: The Trade: Tricida, Inc. (TCDA) 10% owner Nimish Shah acquired a total of 436,923 shares at an average price of $10.75. To acquire these shares, it cost around $4.7 million.
