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…
Activist Third Point Takes Stake in Richemont, Miss Tweed Says (Bloomberg)
Activist investor Dan Loeb’s Third Point LLC has built a stake in Swiss luxury-goods company Richemont and is pushing for changes to boost the stock price, the website Miss Tweed reported. Third Point is now engaging with Richemont, according to the report. Another hedge fund has taken a smaller position in the company and also is pressuring Richemont Chairman Johann Rupert, Miss Tweed reported, without saying where it got the information. Richemont declined to comment about the article, according to a spokeswoman contacted by Bloomberg News. Third Point didn’t immediately respond to a request for comment.
Credit Suisse Strikes Deal to Refer Hedge Fund Clients to BNP Paribas (Business Recorder)
ZURICH: Credit Suisse said on Monday it had struck a deal to refer hedge fund clients to rival BNP Paribas following the Swiss lender’s decision to exit prime broking and some derivatives businesses in the wake of the Archegos scandal. The news comes after Switzerland’s second-biggest bank said last week it would all but stop funding hedge funds by shutting most of its prime brokerage business, a division blamed for racking up $5.5 billion in losses when investment fund Archegos Capital Investment defaulted in March.
Hedge Funds Gained Ground In October (Wealth Briefing Asia)
A global measure of hedge fund returns showed that the sector advanced in October, helped by some recent equities’ losses being reversed and a rise in short-term interest rates. The investible HFRI 500 Fund Weighted Composite Index advanced 1.7 per cent in October, while the HFRI Fund Weighted Composite Index® (FWC) added 1.6 per cent, according to data released today by the Chicago-based group, Hedge Fund Research. With the October gain, total capital invested in the global hedge fund industry rose to an estimated $4.04 trillion.
Insider Trading: November 8, 2021 (BIV.com)
Insider Ali Tajskandar, 10% owner. Company: Wishpond Technologies Ltd. (NASDAQ:WISH). Shares owned: 5,189,477. Trade date: October 22, 25. Trade total: $69,352. Trade: Acquisition of 57,000 shares at prices from $1.20 to $1.24 per share. Insider Neil S. Subin, 10% owner. Company: Scully Royalty Ltd. (NYSE:SRL). Shares owned: 180,000. Trade date: October 22. Trade total: US$ 26,175. Trade: Sale of 2,452 shares at a price of US$11.14 per share.
The Executive Co-Chairman of KKR & Co (NYSE: KKR) is Selling Shares (Analyst Ratings)
On November 5, the Executive Co-Chairman of KKR & Co (KKR), Henry Kravis, sold shares of KKR for $383.9M. This is Kravis’ first transaction since reporting a Sell transaction on HCA back in May 2016 In addition to Henry Kravis, one other KKR executive reported Sell trades in the last month. Based on KKR & Co’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $3.14 billion and quarterly net profit of $1.32 billion.
Notable Lazydays Holdings Insider Trades $2.3M In Company Stock (Benzinga)
William P Murnane, Chief Executive Officer at Lazydays Holdings (NASDAQ:LAZY), made a large buy and sell of company shares on November 5, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission states that William P Murnane exercised options to purchase 69,917 Lazydays Holdings shares at a price of $11.10 per share for a total of $776,079 on November 5. They then sold their shares on multiple transactions in the open market. They sold at prices ranging from $21.65 to $21.85 to raise a total of $1,519,063 from the stock sale.
