Crypto News 

Crypto Hedge Fund Pantera Capital Seals $130 Million for Third Crypto Venture Fund

“Crypto hedge fund Pantera Capital has already sealed $130 million out of a $175 million target for its third crypto venture fund” writes Marie Huillet for cointelegraph.com. Healy revealed the fund’s activities to date, outlining that: “Our third blockchain venture fund has invested $30 million into nine portfolio companies.For Pantera’s debut fund in 2013, the firm had raised $13 million, rising to $25 million for its second.In December, the hedge fund published a newsletter warning that a quarter of its ICO projects could be found to be in violation of…

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Logistics, Alt Lending Lead B2B Startup Funding

“U.S.-based KyckGlobal announced the launch of its gig worker funds disbursement solution, while also revealing an $8 million funding round led by angel investors at TechOperators” reports pymnts.com. Lalamove wasn’t the largest funding round of the week – but that recognition lands with a logistics firm, too.The investment could be the largest Series A funding round for an India-based startup, reports noted.Freight forwarding technology firm Flexport has secured $1 billion in new funding, led by SoftBank’s Visino Fund, reports in CNBC said Thursday. Source: pymnts.com

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UBS to stick to dividend, capital returns plan after French verdict

“LONDON (Reuters) – UBS plans to stick to its proposed dividend for 2018 despite a 4.5 billion euro ($5.10 billion) hit from a French tax ruling that the bank has appealed, CEO Sergio Ermotti said on Friday” reports businessinsider.com. “There is no intention to deviate from our proposed 2018 dividend of 0.70 Swiss francs ($0.6994) per share,” Ermotti said in a call discussing the ruling’s implications with investors and analysts. “In respect to the outlook for our capital returns beyond the financial year 2018, we remain committed to our policy,”…

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JP Morgan economists now see the economy growing at just 1.5% pace this quarter

“JP Morgan economists now see the economy growing at just 1.5 percent in the first quarter, and they trimmed back fourth quarter growth as well on signs of slowing business spending” writes Patti Domm for cnbc.com. Many economists still expect fourth quarter growth of just above 2 percent for the quarter, Inventory data in the durable goods report was also short of expectations, and JP Morgan economists now see inventories at only $31 billion annual rate in the fourth quarter. “Business investment in Q4 should be stronger than Q3 as…

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Steve Cohen’s venture firm invests in U.S. cybersecurity company

“The venture capital company has three funds focused on financial services, artificial intelligence, and enterprise technologies” reports businessinsider.com. Armorblox is the first investment of Point72 Ventures’ enterprise technology group, said Noah Carr, a partner at the venture capital firm in an interview with Reuters.Armorblox said in a statement on Wednesday it raised $16.5 million in a Series A funding led by another U.S. venture capital company General Catalyst. Source: businessinsider.com

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A former SAC Capital portfolio manager is closing his $1 energy billion hedge fund after only three years of trading

“Precocity Capital, an energy-focused hedge fund run by former SAC Capital PM Nick Tiller, is closing down, according to sources familiar with the matter” writes Bradley Saacks for businessinsider.com. The hedge fund managed more than $1 billion as recently as last year, regulatory filings show, and began trading less than three years ago, in mid-2016.Tiller left SAC in 2013 and founded a non-profit organization that consults with and invests in companies creating more sustainable energy and food practices known as Sustainable America.Past reports also note that Tiller was responsible for…

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Crypto News 

South Korean Capital to Invest Over $1 Billion in Fintech and Blockchain Startups by 2022

“The Seoul Metropolitan Government has announced plans to invest more than $1 billion in blockchain and fintech startups by 2022, according to the official announcement published on Feb. 18” writes Max Yakubowski for cointelegraph.com. We will expand our investment to […] stimulate the startup investment market and create a [competitive] startup ecosystem.”. According to the release, the South Korean capital’s government plans to use the “Seoul Innovation Growth Fund” for startups that have various investments problems with Series A funding rounds.The fund, launched last year, will primarily focus on startups…

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Navient rejects $3.2 billion takeover bid from Canyon Capital and Platinum Equity

“Student-loan servicer Navient has rejected a $3.2 billion takeover bid from two investors as it believes the offer undervalues the company” writes unknown author for cnbc.com. Navients board voted on Monday to reject the $12.50 per share offer from hedge fund Canyon Capital Advisors and private-equity firm Platinum Equity Advisors. Navient said it would consider any proposal in the future if it reflected the fair value of the company.The offer represents a 6.6 percent premium over Navients Friday closing price of $11.73 a share.The $12.50 per share offer was surprisingly…

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Two of the top five most active corporate VCs last year were Chinese

“Two Chinese firms ranked in the top five corporate venture capital groups last year, in terms of number of companies in which they invested, according to a new report from CB Insights” writes Str Afp for cnbc.com. For example, Microsoft invests into enterprise software start-ups through M12, its corporate venture capital subsidiary.Corporate venture capital refers to a type of funding where corporations use investment arms to buy into start-ups. Chinese internet giant Baidu’s investment unit, Baidu Ventures, and Legend Capital, a subsidiary of Chinese conglomerate Legend Holdings, ranked in the…

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Inside Egypt’s vast new desert capital, far from Cairo’s traffic and the threat of revolution 

“Construction workers weave through scaffolding around the imposing grey buildings while policemen in balaclavas with assault rifles stand watch” writes Richard Ekins for telegraph.co.uk. The buildings will be government ministries under Egyptian president Abdel Fattah el-Sisi’s plan to build a new administrative capital city 28 miles outside Cairo. Source: telegraph.co.uk

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