Exclusive: Crypto Billionaire Novogratz Leads Funding for Virtual Real Estate Firm (Reuters)
LONDON (Reuters) – Galaxy Interactive, the venture capital division of billionaire crypto investor Mike Novogratz’s Galaxy Digital, has taken a lead investor role in virtual real estate developer Republic Realm, its managing director said. Janine Yorio, managing director of Republic Realm, told Reuters Novogratz’s backing was a vote of confidence for the $10 million investment vehicle. Republic Realm buys virtual real estate, a crypto asset or non-fungible token (NFT) that has its ownership status and authenticity verified by blockchain. NFTs have exploded in popularity in 2021, with prices skyrocketing.
Warren Buffett and Charlie Munger Knocked Robinhood, Discussed the Archegos Fiasco, and Reflected on Their Friendship in a New Interview. Here are the Highlights (Business Insider)
Warren Buffett and Charlie Munger discussed their iconic friendship, how they approach business, and how they built Berkshire Hathaway in “Buffett & Munger: A Wealth of Wisdom,” a CNBC program filmed shortly after the Berkshire annual meeting in May and aired on Tuesday night. The Berkshire Hathaway chairman and vice-chairman also criticized Robinhood, called for tighter regulations after the Archegos Capital fiasco, discussed the remote-working trend, and shared what they learned from the pandemic.
$22.1 Billion Hedge Fund Point72 Hiring “Head of Crypto” (U.Today)
Point72 Asset Management, the hedge fund founded by billionaire Steven Cohen, is searching for a “head of crypto,” according to a report by The Street that cites people with knowledge of the matter. As reported by U.Today, Cohen mentioned that he was “fully converted” to crypto in a recent interview, adding that he was still early: I’m not going to miss this. I’ve missed the first part, but I still feel like I’m early. I may look foolish initially, but it accordingly to earn the game. And then, when you’re confident, take it to the next level.
Photo by Austin Distel on Unsplash
Calgus: Concentrated and Unconstrained (Hedge Nordic)
Stockholm (HedgeNordic) – Although this does not apply to every single manager out there, the name of the game for many equity-focused hedge fund managers is beating the market. Relying on a concentrated and unconstrained approach to investing, a Stockholm-based duo – Gustaf von Sivers and Carl Urban – is aiming to do just that with their long-biased long/short equity fund, Calgus Fond.
Testmaker’s Activist Spat Risks M&A Rerun (Reuters)
LONDON, June 30 (Reuters Breakingviews) – Qiagen (QIA.DE) is once again under the activist spotlight. Hedge fund Davidson Kempner on Wednesday renewed its attack on the 10 billion euro genetic testing group’s board, criticising its “history of ineffectiveness” and calling for Chairman Lawrence Rosen and board member Elizabeth Tallett to step down.
Investors Pour Venture Capital into Canada (Preqin)
Venture capital interest in Canadian start-ups, particularly tech, has skyrocketed in 2021, drawing capital from both domestic and foreign investors. Venture capitalists have taken a shine to Canadian companies in recent years. This could be surprising to some, who see the country’s investment ecosystem revolving around energy and natural resources. So far this year, more than $6.2bn has been invested in Canada-based portfolio companies, adding some momentum to a trend that temporarily flatlined in 2020.
Should HNIs Consider Investing in Alternative Investment Funds? (LiveMint)
Investors’ search for a buffer against economic uncertainties and muted returns from stock and bond markets over the past few years have pushed them to high-yield strategies offered by alternative investment funds. Consequently, assets under management (AUM) of these funds have grown to more than 4.50 trillion as of March 2021 against 360 crore in December 2012, as per data available with the Securities and Exchange Board of India (Sebi).
SCOR AGM Vote Sends “Strong Message” Over Shareholder Discontent, Says Activist Hedge Fund CIAM (Hedge Week)
Activist hedge fund CIAM says SCOR SE’s board of directors can “no longer ignore” shareholder discontent over governance practices, after the French reinsurance firm’s annual general meeting registered sizeable opposition to the board’s proposed remuneration policies. London- and Paris-based manager CIAM has been campaigning against what it sees as “significant corporate governance deficiencies” at SCOR, and had earlier called on shareholders to vote against the re-election of Kessler and board directors, and to oppose planned remuneration policies at Wednesday’s AGM.
Daniel Loeb-Backed SentinelOne Raises Over $1 Billion in Upsized U.S. IPO (Reuters)
(Reuters) – SentinelOne Inc, a cybersecurity firm backed by billionaire investor Daniel Loeb’s hedge fund Third Point, raised about $1.23 billion through an upsized U.S. initial public offering on Wednesday, giving it a valuation of roughly $8.87 billion. The company sold 35 million shares priced at $35 per share. It had earlier planned to sell 32 million shares priced between $31 and $32 per share.
Why This Former Kingsford Analyst Is Launching an Activist Short Fund, Short Selling Woes Be Damned (Institutional Investor)
The myriad problems surrounding short sellers – including a surprising rise in the number of lawsuits against them – aren’t dissuading one young upstart from getting into the business. Chris Drose, a former analyst at short-biased hedge fund Kingsford Capital, is launching a new activist short fund called Bleecker Street Capital this summer, he said in an interview with Institutional Investor.
Tuesday 6/29 Insider Buying Report: NWFL, LMST (Nasdaq.com)
At Norwood Financial, a filing with the SEC revealed that on Friday, Director Alexandra K. Nolan purchased 50,000 shares of NWFL, for a cost of $25.17 each, for a total investment of $1.26M. So far Nolan is in the green, up about 0.8% on their purchase based on today’s trading high of $25.37. Norwood Financial is trading off about 0.6% on the day Tuesday. Before this latest buy, Nolan purchased NWFL on 4 other occasions during the past twelve months, for a total investment of $516,968 at an average of $25.84 per share. And also on Friday, Director Kevin James Kooman purchased $121,968 worth of Limestone Bancorp, purchasing 7,392 shares at a cost of $16.50 each. This purchase marks the first one filed by Kooman in the past twelve months. Limestone Bancorp is trading up about 0.1% on the day Tuesday. So far Kooman is in the green, up about 0.7% on their purchase based on today’s trading high of $16.61.
The Executive Vice-President of Gold Fields (Other OTC: GFIOF) is Selling Shares (Analyst Ratings)
Today, the Executive Vice-President of Gold Fields (GFIOF), Brett Mattison, sold shares of GFIOF for $6.52M. In addition to Brett Mattison, 2 other GFIOF executives reported Sell trades in the last month. Following Brett Mattison’s last GFIOF Sell transaction on February 24, 2021, the stock climbed by 1.1%.
Dell Technologies Inc (DELL) CEO Michael S Dell Sold $234.6 million of Shares (Guru Focus)
CEO of Dell Technologies Inc, Michael S Dell, sold 2,353,845 shares of DELL on 06/28/2021 at an average price of $99.66 a share. The total sale was $234.6 million.
