News 

Biden releases $1.3 trillion infrastructure plan

“Joe Biden wants to spend $1.3 trillion on infrastructure as president, aiming to reduce carbon emissions, create jobs and shore up the ailing Highway Trust Fund with “new revenues” in a plan released Thursday that’s reminiscent of the Obama years” reports politico.com. Biden’s 12-page plan promises to “ensure new revenues are secured to stabilize the Highway Trust Fund” but doesn’t specify where those revenues would come from or how he would get political consensus for them. Source: politico.com

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Markets News Stocks 

This number provides the most compelling reason to add emerging-market stocks to your portfolio

“But that may not be your best reason to consider EM stocks for your portfolio” writes Investing Columnist for marketwatch.com. Andrew Mathewson, a portfolio manager of the Martin Currie Emerging Markets Fund, argues that lower valuations and the evolution of emerging markets as compelling reasons for investors to diversify beyond U.S. stocks. Source: marketwatch.com

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Norwest Venture Partners just raised $2 billion for its biggest fund ever to keep up with skyrocketing Silicon Valley deal sizes

“That’s why you see us raising a larger fund and other funds raising larger funds.”” writes Megan Hernbroth for businessinsider.com. You want to have the flexibility of a larger fund to do that.”. But his firm just raised its biggest fund ever to back entrepreneurs that can balance growth with profitability.On Thursday, Norwest Venture Partners announced the closure of its fifteenth fund, its largest to date. Source: businessinsider.com

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Crypto News 

PORTAL Launches Debut Crypto Fund, Targets Asia-Pacific Investors

“Dubbed the Portal Digital Fund, the fund will operate as a fund of funds” writes Arnab Shome for financemagnates.com. Singapore-based PORTAL Asset Management on Thursday has launched a cryptocurrency fund, making a debut in the digital asset industry, The Business Times reported.The company is planning to create a diversified portfolio adding four to eight specialist global fund managers.It will be targeted to sophisticated investors which include high net worth individuals, family offices and boutique institutional investors in the Asia-Pacific region.Though new to the industry, the firm is aiming to manage…

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Crypto News 

Australia: DigitalX Launches Bitcoin Fund Seeded With $1.9M in BTC

“Australian crypto firm DigitalX Ltd. is launching a Bitcoin (BTC) fund, seeded with roughly $1.9 million of its own holdings in cryptocurrency” writes Marie Huillet for cointelegraph.com. To establish the fund, DigitalX is seeding 215 BTC — reportedly worth close to $1.9 million at the time of its valuation — meaning that it is “effectively swapping its interest in those bitcoin for an equivalent interest in the fund,” in DigitalX’s words.This will help the offering to achieve critical mass and allow DigitalX to profit from accrued fees receivable from the…

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News 

Eschewing pitch decks and personal connections in favour of data — here’s how a European investor uses AI to stay on top

“However, EQT Venture’s operating partner for analytics, Henrik Landgren says that EQT will soon do away with many traditional data sources” writes Callum Burroughs for businessinsider.com. Motherbrain’s applications are breaking the mold in the world of venture capital where personal connections and stereotypes of an “old boys’ network” can still apply.That may be changing as the industry looks to adopt algorithmic and data-driven investing as standard, with Sweden’s EQT Ventures set up deliberately for that purpose.EQT Ventures is a relatively new fund within the Stockholm-based private equity group EQT which…

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GMEX Ties with DPN to Launch Tokenized Hybrid Fund

“GMEX Technologies on Wednesday announced its partnership with Digital Partners Network (DPN) to launch a tokenized hybrid fund called Digital Investment Fund PCC (DIF)” writes Arnab Shome for financemagnates.com. London Summit 2019 Launches the Latest Era in FX and Fintech – Join Now The hybrid fund has been set up as a Protected Cell Company (PCC) with three initial cells – digital fintech fund (DFF), digital green finance equity fund (DGFEF), and digital green finance debt fund (DGFDF).Registered in Seychelles, the fund is aiming to bridge the gap between the…

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News 

Hedge funds are losing to private equity in a tug-of-war over investors’ portfolios, and experts say it’s only going to get worse

“Hedge funds are in danger of playing second fiddle to private equity in their biggest investors’ portfolios” writes Bradley Saacks for businessinsider.com. Still, neither private equity nor hedge funds have what would be a considered a diverse industry.On the manager side, firm-wide diversity is lacking at hedge funds more so than private equity, EY found.Roughly half of private equity managers have set diversity targets, while only 15% of hedge funds have.Only one in every 10 firms, including both hedge funds and private equity, reported that women make up more than…

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News 

Budget delay has repercussions for Pentagon

“His morning newsletter, “Jamie McIntyre’s Daily on Defense,” is free and available by email subscription at dailyondefense.com” reports washingtonexaminer.com. Jamie McIntyre is the Washington Examiner’s senior writer on defense and national security.Bipartisan leaders of the House and Senate Appropriations committees meet today to seek agreement on extending a continuing resolution to fund the federal government, and with it, the Pentagon, for another month.An existing stopgap resolution to fund the government at last year’s level will expire next week.All of the services need to go through this so we can focus…

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News 

These are the companies that open — and close — the most ETFs

“An earlier version of this story showed one chart with incorrect number for closures as a percent of total funds” writes Andrea Riquier for marketwatch.com. The chart below shows how many funds each company has closed over the past five years as a percentage of the total number it currently has open.Proshares builds products for traders, not buy-and-hold investors, he noted. “That is by definition going to be fickle. Source: marketwatch.com

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