Coatue’s Funding Numbers Take Significant Dip in First Half Of Year (Crunch Base)
Crossover investor giant Coatue has significantly cut down on funding deals as the venture sector continues to see a pullback after a record-shattering 2021. After taking part in 56 funding deals in the fourth quarter of last year, the New York-based firm took part in only 16 such deals in the just-completed second quarter of this year, according to Crunchbase data.
Tiger Global’s Flagship Hedge Fund Has First Gain Since October (The Wall Street Journal)
Tiger Global Management eked out a 3.4% gain in June in its flagship hedge fund, according to a person familiar with the firm, in what marks the fund’s first gain since October. Still, the hedge fund remains down 50.1% for the first half of the year, worse than losses notched by major stock-market indexes and other large hedge funds investing in growth. The figure was a flash estimate Tiger shared with investors Tuesday evening and didn’t include any commentary. In comparison, the tech-laden Nasdaq Composite lost 8.7% in June including dividends; the S&P 500 lost 8.3% including dividends.
BlueCrest Alum Khurana’s Hedge Fund Returns 15% in First Half (Bloomberg)
BlueCrest Capital Management alumnus Mohit Khurana’s macro hedge fund returned an estimated 15% in the first half with winning bets on rising interest rates and diverging economic policies around the globe, said a person with knowledge of the matter. Southern Ridges Macro Fund gained 3.3% in June alone, said the person, who asked not to be identified as the information is private. Southern Ridges Capital, which oversees $1.2 billion with 27 portfolio managers in Singapore and New York, declined to comment in an e-mail.
US Hedge Fund Citadel Takes 5% Stake in Boohoo (ShareCast)
Boohoo shares rallied on Wednesday as it emerged that US hedge fund Citadel had taken a 5.04% stake in the fast-fashion retailer. Headquartered in Chicago, Citadel is majority owned by billionaire founder and chief executive Ken Griffin. At 0955 BST, Boohoo shares were up 3.5% at 57.09p.
Hedge Fund Launches Remain Strong – at Least in the First Quarter (Institutional Investor)
Hedge fund managers were on a roll with new launches last year and they aren’t retreating – at least according to data for the first quarter. During the first three months of the year, 185 new hedge funds were launched, up from 113 in the fourth quarter of 2021, according to Hedge Fund Research. The number was just a little shy of the highs set in the first quarter of 2021 and the fourth quarter of 2017, where 189 and 190 new funds were launched, respectively.
Crypto Brokerage Voyager Digital Files for Chapter 11 Bankruptcy Protection (CNBC)
Voyager commenced bankruptcy proceedings in the U.S. Bankruptcy Court for the Southern District of New York on Tuesday. The company suffered huge losses from its exposure to crypto hedge fund Three Arrows Capital, which went bust last week. Sam Bankman-Fried’s Alameda Research is listed as Voyager’s largest creditor, with an unsecured claim of $75 million. Beleaguered crypto brokerage Voyager Digital has filed for Chapter 11 bankruptcy protection, becoming the latest casualty of chaos in digital asset markets.