Tag Archives: invest

Banks reportedly seek to invest $59 million in blockchain startup R3

global blockchain


(Reuters) – Banks involved in the blockchain consortium R3 CEV have expressed interest in investing $ 59 million in the company’s first funding round, less than half its overall target, a person close to the deal said on Friday.

R3, a New York-based startup, is seeking to raise $ 150 million from its members and strategic investors to fund its activities focused on developing blockchain-based technology for the financial services sector.

It had originally sought to raise $ 200 million, offering prospective investors a 90 percent stake in a new entity it would have run but restructured the deal to $ 150 million in return for a 60 percent stake in itself.

It has invited its original 42 bank members to invest first and will subsequently reach out to the other roughly 30 banks it works with as well as external companies, the person said. It plans to raise the overall amount over the next nine to 12 months.

Of those original members, 36 have expressed indications of interest through stakes ranging from $ 3.5 million to $ 1 million each, the person said, declining to be named because the fundraising is private.

Goldman Sachs, Morgan Stanley, Banco Santander and National Bank of Australia have opted out of the fund-raising and are planning to leave the consortium, Reuters reported on Monday.

JP Morgan Chase has not yet made a commitment to invest but does not plan on leaving the consortium, according to a person close the bank.

Australia’s Macquarie bank has also not expressed interest in investing but is looking to remain a member of the group’s blockchain lab, a division that leads testing of new applications, according to a person familiar with the deal. Macquarie declined to comment.

Launched in September 2015, R3 has rapidly gained the backing of some of the world’s largest banks including UBS , Deutsche Bank  and HSBC. Its blockchain consortium and development lab count a total of 70 members, who have so far paid membership fees to participate.

The startup is part of a growing cohort of young companies looking to help large financial institutions adapt blockchain technology to carry out financial processes, such as making international payments or settling trades in securities.

Blockchain, which first emerged as the system underpinning the cryptocurrency bitcoin, is a distributed ledger of transactions maintained by a network of computers on the internet without the need of a central counterparty.

Banks are hoping that it can be deployed in finance to simplify some of their processes and slash back office costs.

(Reporting by Anna Irrera and Jemima Kelly; Editing by Carmel Crimmins and Cynthia Osterman)

Deals – VentureBeat

Best Savings Accounts as of March 2016

Banks

Didn’t think you can earn interest with bank accounts anymore? Well, think again. Here are your best options.

The Best Savings Accounts of March 2016

Interest rates on savings accounts at traditional banks remain painfully low. Bank of America currently pays 0.01% APY on its Regular Savings Account.The other major banks pay similar interest rates. If you keep $100,000 in an account paying 0.01%, you will earn just $10 of interest in one year, before…
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Explaining The Crash of Chinese Equities

Chinese Stock

If you have invested in Chinese stocks or ETFs over the last year, you’ve experienced a strong downturn in recent months. Here’s why.

The Real Reason Behind The Crash Of Chinese Equities

Anyone searching for answers to the collapse of the Shanghai Composite Index in recent months needs to look beyond circuit breakers and heavy-handed government intervention to chronic manufacturing deflation. China’s Producer Price Index (CPPP) has been on a decline for eighteen years, and on a free fall for the last four […]
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Take a Look at your Investment Fees

Investing

The recent growth of ETFs in the last few years has given investors many new options to diversify their investing portfolio, while avoiding the high cost of managed mutual funds. If you haven’t yet looked at today’s ETFs, you definitely owe it to yourself and your financial future to take a good look at these investing options.

How Low Fees Drive Much Bigger Returns

You know the mantra: Low fees means money money for you. Every dollar counts. We usually like to spend less on things we consider ordinary. Who doesn’t love a store-brand bottle of ketchup at a dollar cheaper than the national brand? It feels good to save money. Except when we don’t. Certain […]
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What a Billionaire Investor Picks for the Future

Investment Growth

Here are some insights on where to look to invest for the future, from a successful billionaire investor.

What e-commerce, aliens and AI have in common

Yuri Milner tells Julia Boorstin at TechCrunch Disrupt that he is bullish on artificial intelligence, e-commerce and finding alien civilizations. Billionaire investor Yuri Milner had huge success betting on Internet giants from Facebook and Twitter, to Snapchat and Spotify, but when he looks to the future, he says there won’t be much opportunity in Internet-only companies, such as these. In an exclusive interview on CNBC, he said now he’s looking to invest in companies that bridge the online an
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Ray Dalio’s All Weather Fund Slumps This Year

Market Swings

Market volatility has hit investors hard recently. With global economic uncertainty, China’s market implosion, and concerns about the U.S. Fed raising rates, it’s been difficult to decide where to invest. Even successful investor Ray Dalio’s all weather strategy has not faired well so far this year. Where are you putting your money today?

Bridgewater’s All Weather Fund slumps in market storm

An $80 billion portfolio managed by hedge fund titan Ray Dalio’s Bridgewater Associates and widely held by many pension funds slumped in August and some investors blame the strategy of such funds for the eruption in volatility that slammed stocks and commodities. Bridgewater’s “All Weather Fund” fell 4.2 percent in August and is down 3.76 percent so far this year, according to three people familiar with the fund’s performance on Thursday. Equity markets worldwide stumbled in recent weeks, drive
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Will Netflix Remain King of Movie Streaming?

Netflix

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Almost everyone I know loves Netflix. I’ve been a subscriber for years. There are several good alternatives out there, though – including Amazon, Hulu, and soon Apple. Does Netflix have a sustainable competitive advantage? Should they worry about Apple?

Why Netflix shouldn’t sweat Apple: Analyst

Concerns about Netflix’s situation have risen after the streaming giant lost several big-name movie titles and after rumors about a new Apple TV model surfaced. But the company shouldn’t be overly concerned about Apple possibly doubling down on streaming for two reasons, said Cantor Fitzgerald analyst Youssef Squali on Thursday. “At the end of the day, Netflix has a sustainable competitive advantage that can be defined in two things: the brand and the price,” Squali said in an interview with CN
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How a 23-Year-Old Got a Billionaire to Invest in His Startup

Startup

DataWallet is a new platform that allows you to be your own data broker and sell the data you create online anonymously to companies. This is an interesting story on a promising concept. You can read more and sign up at www.datawallet.io.

How This 23-Year-Old Got a Billionaire to Invest in His Data-Profiting Startup

Whether we are aware of it or not, companies are collecting our data — produced from daily activities on our phones or browsing the internet — and selling it for profit. A new startup called DataWallet is now giving us the tools to take back control of our data while putting the money in our pockets. German-born Serafin Lion Engel, the founder and CEO of DataWallet , discovered the idea for his startup after he dropped out of college to follow his entrepreneurial pursuits. He then
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Bulls and Bears

Will the Stock Market See More Losses this Week?

If you invest in stocks, last week surely wasn’t a good one. Are we near a bottom? Is now a good time to buy, or do you think more losses are coming?

Could Russell correction signal more losses ahead?

As U.S. investors assess the market’s ongoing selloff, they may find the proverbial canary in the coal mine to be small-cap stocks, particularly those within the Russell 2000. The Russell, a key small caps index, entered correction territory Friday, trading about 10 percent below its 52-week high of 1,296, reached June 23, according to data from FactSet. “This is a signal that there’s more trouble in the periphery,” said Adam Sarhan, CEO at Sarhan Capital, adding that this fall could also signa…
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Only have $1000 to invest? Go for low fee and go global

If you’re just getting started in investing, you should read this.

A thousand dollars is a minuscule amount in the investing world, but for many young professionals it’s all they’ve got to start off. And while money managers aren’t beating down doors to serve them, that shouldn’t be a deterrent against young people investing early, even if they’ve only very little. A young professional with $1,000 in a tax-free savings account intent on investing for the long term has the benefit of time on their side, which translates into a higher risk tolerance and the potential to reap big gains. While their options for investments are limited, they are clear. Experts say there is really only one way to go: Buy global equities in a low-fee fund, and keep your hands off. Why global equities? Experts say inves…
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