Fyllo is on a Fundraising Tear. The Cannabis Tech Startup Just Raised $40 Million from Big Name Funds Like Eminence Capital (Business Insider)
Cannabis tech company Fyllo is on a roll. The data and compliance software startup that serves the cannabis industry has raised $40 million in a Series C funding round, just seven months after raising $30 million. Since August 2020, the company has raised close to $100 million to grow its services and make key deals in the space. Fyllo CEO Chad Bronstein told Insider that the capital will be used to fuel growth, continue to bring in top talent, and pursue strategic M&A. Bronstein also said that a public offering is on his radar in the near future. The round was led by Ricky Sandler‘s Eminence Capital, a long/short fund that manages over $7.5 billion. New investors in the round include Longview Capital Advisors and ArrowMark Partners. Previous investors including JW Asset Management, Salveo Capital, and Phyto Partners, among others, participated in the round as well.
Post-AMC, Mudrick Capital Catches Flying Taxi Fever (Bloomberg)
Even amateur investors know that Mudrick Capital Management, LP is primarily a distressed debt investor: After the hedge fund bankrolled the near-bankrupt AMC Entertainment Holdings Inc. last year, the cinema chain went on to become a rampaging memestock. So at first glance, Mudrick’s latest bet is a headscratcher. It’s sinking $200 million into a British startup called Vertical Aerospace that aims to build flying taxis, essentially has no revenue yet and is trying to go public via a SPAC. Has a hard-nosed debt investor drunk the tech boom Kool-Aid?
Moma No More: Meet Asgard Asset Management (Hedge Nordic)
Stockholm (HedgeNordic) – Copenhagen-based investment advisor and manager Moma Advisors has changed its name into Asgard Asset Management. Morten Mathiesen founded Moma Advisors in 2011 to act as the investment advisor for Asgard Fixed Income Fund. Moma Advisors has since transitioned from investment advisor to investment manager licensed by the Danish Financial Supervisory Authority. “The Asgard name was chosen as it seems natural to link the name of the management company with the family of funds managed.”
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Linedata’s Tenth Global Asset Management Survey Highlights Operational Resilience and Lasting Value in an Uncertain World (Hedge Week)
Linedata, a global provider of asset management and credit technology data and services, has unveiled its tenth Global Asset Management Survey Report in partnership with financial services insights and advisory firm, Aite Novarica. The survey of 200 asset managers, hedge funds, fund administrators, banks, wealth managers and custodians across Europe, North America and Asia, highlights the current state of the industry, operational and technology trends that are shaping day-to-day practices and how the industry will continue to evolve.
Tiger Global’s Big Rebound (Institutional Investor)
The Tiger Cub’s hedge funds surged in October – even without the help of a recent rash of successful IPOs. Tiger Global Management got off to a strong start in the fourth quarter, posting a 6.9 percent gain in October. Even so, the Tiger Cub is sonly up 13.2 percent for the year – slightly more than half the S&P 500’s 24 percent gain…
