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October 26, 2020

Cyndx Insights is your daily window to the business world, focusing primarily 
on M&A activities, capital markets, and important technology trends.

Daily Insights provides global business coverage and categorizes
financial news from U.S.Europe and Asia.

U.S. & Canada

PayPal Starts Acquisition Talks with BitGo, Other Crypto Startups

A couple of days after the official declaration of plans for enabling crypto services, PayPal Holdings is now eying to acquire cryptocurrency companies to bolster its position in the industry, the most notable being BitGo.  Read more on Financemagnates

Image:Tero Vesalainen / Shutterstock.com

Is Andreessen Horowitz Wrong About AI?

The economics of AI have been a hot topic lately, following the blog post by Martin Casado and Matt Bornstein of Andreessen Horowitz. The authors cited lower margins due to heavy infrastructure costs as the main difference between AI and traditional software. Forbes takes a closer look.

Image: Allies Interactive / Shutterstock.com

Here's the 2008 Rerun Playing Out at Big Banks During the Pandemic


A clear trend has been public capital markets that have asserted a fresh level of dominance in swaths of U.S. debt finance. That means more of the upside — and downside risks — of lending to the U.S. economy... Read more on Marketwatch.com
Image: TZIDO SUN / Shutterstock.com

Smaller Hedge Funds Are Outpacing Their Larger Rivals

One of the goals of most hedge funds is to capture the most assets under management as possible, but when it comes to performance, data shows that smaller funds have been outperforming their larger counterparts.  Read more on Forbes.com
Image : FGC / Shutterstock.com

Is the Real Estate Market Going to Crash?

Listed real estate investment trusts remain down more than 10% year-to-date, Retail mall REITs have been among the market’s worst performers, some losing more than 50% for the year and Brick-and-mortar retailers have been crushed by the pandemic. Read more on Thinkadvisor.com

Image: Brian A. Jackson / Shutterstock.com

U.S. Capital Raising and M&A Highlights

AJO, a Philadelphia -based value investing firm run by Ted Aronson is giving $10 billion back to its investors and shutting down. WSJ.com
Applied Intuition, an engineering software provider, has raised a $125 million Series C financing round from Lux Capital, Andreessen Horowitz and General Catalyst with equal participation from each fund. Forbes.com
Blackstone Group Inc reached an agreement to buy Simply Self Storage from Canada's Brookfield Asset Management Inc for ~$1.2 billion. Reuters.com
Carlyle Group Inc is nearing an agreement to acquire Siemens AG's mechanical drive arm Flender, for about for about 2 billion euros ($2.37 billion), Bloomberg News reported citing sources. Reuters.com
Cenovus Energy Inc will buy Husky Energy Inc in an all-stock transaction valued at C$23.6 billion, the companies said in a statement Sunday. Reuters.com
iiRcade, a connected arcade machine for gamers to own and play their favorite retro and modern arcade games at home, announced the closing of $5.5 million dollar seed investment round led by Gauss Capital Management. VCnewsdaily.com
InCarda Therapeutics, a privately-held biopharmaceutical company developing first-of-their-kind inhaled therapies for cardiovascular diseases, announced that it has raised $30 million Series C equity financing led by an affiliate of Innoviva, Inc. VCnewdaily.com
Nava, a NYC-based employee benefits brokerage, raised $20m in financing from Thrive Capital. Finsmes.com
Render announced $4.5 million in an extended seed funding round, bringing the total raised to $6.75 million. General Catalyst led the round. VCNewsdaily.com
Sirnaomics Inc., a biopharma company in development of RNAi therapeutics, raised USD$105m in Series D financing co-led by Rotating Boulder Fund, Walvax Biotechnology Co., Ltd. and Sunshine Riverhead Capital. Finsmes.com
SolarWinds is to acquire SentryOne, a leading technology provider of database performance monitoring and DataOps solutions on SQL Server, Azure SQL Database, and the Microsoft Data Platform. Reuters.com
StreetShares, a Reston, Va.-based mission-driven financial technology company, secured $10m in funding from Motley Fool Ventures, Ally Ventures and other fintech angel investors. Finsmes.com
Ware, a San Francisco, CA-based technology startup deploying autonomous drones for warehouse inventory counting, closed a $2.5m seed funding round. The round was led by UP Partners. Finsmes.com

International News

UK's Economic Recovery Fades in October as Pandemic Flares Up

Britain’s economic recovery lost more steam this month as a resurgence of the coronavirus pandemic hit key sectors and prompted a drop in consumer morale, surveys showed on Friday. Read more on UK.Reuters.com
Image: ffikretow@hotmail.com / Shutterstock.com

$10B Crypto Firm Ripple Consider Relocating to London Over U.S. Regulation

Ripple, the $10 billion financial technology company best known for cryptocurrency XRP, is considering relocating its headquarters overseas due to frustration with the U.S. regulatory environment.. Read more on CNBC.com
Image: Immersion Imagery / Shutterstock.com

UK's Housing Market Booms Through October

A surge in Britain’s housing market pushed up asking prices for homes this month by the most in more than four years, with buyers ready to pay a premium for larger properties.   Read more on Uk.reuters.com
Image: Alicia G Monedero / Shutterstock.com

Ant May Raise Up To $17 billion in Shanghai IPO 

China’s Ant Group could raise up to $17.3 billion in the Shanghai leg of the likely $35 billion dual listing, the world’s largest ever, after some large investors submitted bids in the range of 68-69 yuan per share. Read more on Uk.reuters.com
Image: rafapress / Shutterstock.com

India's Flipkart Buys $204M Stake in Aditya Birla Fashion

Flipkart is acquiring a 7.8% stake in Aditya Birla Fashion as the Walmart-owned Indian e-commerce firm makes further push into the apparel category. The e-commerce group will pay $203.8 million for its stake. Read more on Techcrunch.com
Image: Burdun Iliya / Shutterstock.com

International Capital Raising and M&A Highlights

Augmentum Fintech is looking to raise £28 million from a placing to fund further investments for its portfolio of financial technology firms. Capital will be raised from institutional investors and retail enthusiasts. Finextra.com
Azura Ophthalmics wants to create a drug that tackles the root cause of dry eye disease and has raised $20 million in funding comes from OrbiMed, TPG Biotech, Ganot Capital and Brandon Capital’s Medical Research Commercialisation Fund. Fiercebiotech.com
Bayer agreed to acquire U.S. biotech firm Asklepios BioPharmaceutical Inc for as much as $4 billion in a bet on gene therapy. Reuters.com
British Patient Capital announces today a $35m commitment to The Evolution Technology Fund II, expected to achieve a targeted $250m final close, investing in growing cybersecurity and enterprise software companies. Fintechfinance
CapitalBox, the online pan-European SME funding platform has announced the acquisition of the Netherlands division of fintech company Spotcap Global, one of the most prominent online SME lenders in the Dutch market. UKtech.news
The Carlyle Group said it had agreed to buy a majority stake in funds network Calastone from its current owners including venture capital investor Octopus Ventures and Accel for an undisclosed sum. Reuters.com
Cellnex, a Barcelona-based cellphone mast operator agreed with Iliad to buy a 60% stake in the cellphone tower unit of Play, a Polish telephone company the French operator is in the process of taking over. Reuters.com
Credem, the Italian regional bank said it had signed a memorandum of understanding to buy smaller rival Cassa di Risparmio di Cento in a deal that will strengthen its market share in its Emilia Romagna home region. Reuters.com
Farrow & Ball Ltd, the high-end English paint maker, is being considered for sale of its owner at a time of surging demand for home renovations, according to people familiar with the matter. Yahoo!Finance
Fidelity Investments has purchased the personal investing business of Legal & General, a U.K.-based financial services company. Thinkadvisor.com
Gradfuel a data-driven graduate hiring platform which acts as an intelligent personal job assistant for recent graduates has successfully secured £200,000 in seed investment from a wide range of investors. UKtech.news
Italy has prevented telecoms group from signing a deal for Huawei to supply equipment for its 5G core network, the clearest sign yet Rome is adopting a tougher stance against the Chinese group. Reuters.com
Link Administration Holdings rejected a takeover offer of A$2.76 billion ($1.96 billion) from private equity firms Carlyle Group and Pacific Equity Partners, but said it was willing to continue talks over the bid. Reuters.com
Occuity is developing products to screen for, diagnose and monitor major chronic health conditions including diabetes and Alzheimer’s Disease and has raised £1M, supported by Angel Investment Network. UKtech.news
PrimaryBid, a London-based fintech platform, closed a $50m Series B funding from LSEG, Draper Esprit, OMERS Ventures, Fidelity International Strategic Ventures and ABN AMRO Ventures. Finsmes.com
RaiseNow builds fundraising technology to help non-profit organisations find supporters, rally communities, raise funds, and create impact, has landed  ~€5 million in a Series A+ investment round, led by SIX Fintech Ventures with PostFinance. Eu-startups.com
Vectary, the 3D and Augmented Reality design platform, has announced a $7.3 million round led by the EQT Ventures fund. UKTN
VSPN, an esports ‘total solutions provider’ has raised ~$100 million in a Series B funding round, led by Tencent Holdings. Techcrunch.com

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