Lead Edge Capital Lands Nearly $2bn Tech-Focused Fund for Growth-Equity Bets (Opalesque)
New York City-based growth equity investment firm Lead Edge Capital (LEC) raised $1.95 billion for its largest fund to date, Fund VI, to make bets on software, internet, consumer, and tech-enabled service companies. The technology-focused growth stage investment fund said in a press release that it has an investor base of over 500 limited partners and institutions. The pool follows a $950 million fund that Lead Edge closed in October 2020 – also from around 500 investors – and which brought the firm’s assets at the time to $3 billion. The addition of Fund VI brings the firm’s total capital raised since inception to $5 billion.
Hedge Funds Trim YTD Losses to -3.36% with 0.39% Gain in March (Hedge Week)
The hedge fund industry got back to monthly gains in March, eking out a 0.39% return for the month, according to the Barclay Hedge Fund Index compiled by BarclayHedge, a division of Backstop Solutions. By comparison, the S&P Total Return Index gained 3.71% in March. For the year to date, the hedge fund industry was down -3.36% through March, losing slightly less ground than the S&P 500 Total Return Index, which was off -4.60% over the same period.
EGO – The Blockchain Hedge Fund (GlobeNewswire)
Los Angeles, CA, April 10, 2022 (NEWSCALL) — Equitable Growth Opportunity, or EGO, is transforming the cryptocurrency marketplace by offering investors the education to not only understand the mechanics behind their project, but to use that knowledge and promote their own financial growth. EGO is the first Investing as a Service protocol to offer a sustainable 30% APR per month through staking while trading during a fixed set of hours. This is the second cryptocurrency to adopt New York Stock Exchange trading hours and will launch on the Binance Smart Chain (BSC) network on Monday, April 11, 2022, at 9:30 a.m. EST. With education, transparency, and sustainability as its core values, the team behind EGO brings innovation to the world of digital currency.
Viking Global Investors to Relocate NYC Office (Hedge Week)
Hedge fund Viking Global Investors is planning to move to a new 100,000 sq ft office at 660 Fifth Avenue in Manhattan, according to a report by Bloomberg. The report says that while the move has yet to be finalised, Viking has decided to quit its current home at 280 Park Avenue because it needs more space than the 60,000 sq ft it currently occupies. The firm increased hiring during the pandemic and last year started assembling a new credit investing team as well as fund focused solely on private company investments.
Hedge Funds Eye U.S. Bond Boost After Bruising Q1: McGeever (Reuters)
ORLANDO, Fla., April 11 (Reuters) – For the U.S. bond market, the first quarter was marked by historically high volatility and the poorest performance in decades. Hedge funds scored badly, and will be hoping for a better showing in the second quarter. U.S. futures market positioning in the first week of the new quarter showed that funds generally got it right on the move up in short-dated rates and yields, but didn’t anticipate the spike higher in the 10-year yield.