APX Capital details $276m US-Italian fund after buying Music World Entertainment (TBI Vision)
Investment fund APX Capital Group has unveiled details of a €250m ($276m) TV and film production fund, following its acquisition of Mathew Knowles’ Music World Entertainment Group. Knowles, the father of popstar Beyoncé and ex-manager of Destiny’s Child, will oversee the new division – to be known as Music World Films & TV (MWFT) – and will focus its coproduction efforts primarily on the US and Italy.
Grayscale, World’s Biggest Bitcoin Fund, Says it Faces ‘Unfair’ Hurdle in ETF Plan (Financial News)
The world’s largest bitcoin fund is trading at 73 cents on the dollar. That may look like a bargain if you want crypto in your portfolio. But nothing is really free on Wall Street, including a cut-rate deal on bitcoin. Holding $26.2bn in assets, the Grayscale Bitcoin Trust owns more of the cryptocurrency than any other fund. A private-placement trust that trades like a stock, GBT has become a popular vehicle to access bitcoin in equity form. Institutional investors like Morgan Stanley and ARK Invest hold it in funds for clients…
Qualcomm Bets on the Metaverse with a New $100 Million Investment Fund (The San Diegounion Tribune)
Qualcomm has set up a $100 million fund to invest in virtual and augmented reality technologies in a bid to help jumpstart the metaverse. The San Diego wireless technology firm announced the initiative, called the Snapdragon Metaverse Fund, Monday. It mirrors other funds that Qualcomm has created over the years to advance emerging technologies where it has a footprint. An example is the $100 million Qualcomm Ventures Artificial Intelligence Fund created in 2018.
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VC-Backed NirogStreet Ropes in Fund Manager Ashutosh Sinha to Head Strategy (VCCircle.com)
NirogStreet, a platform that promotes Ayurveda, said it has onboarded veteran fund manager Ashutosh Sinha as its chief strategy officer (CSO). In his new role, Sinha will work closely with NirogStreet’s chief executive officer Ram N Kumar in expanding the Ayurveda tech platform globally.
Investor ETFS and Activist Hedge Fund Lion Point Ask for Change of Directors and CEO at WisdomTree (Opalesque)
ETFS Capital and Lion Point Capital nominated three candidates to WisdomTree Investment’s board of directors on Friday, in their latest attempt to create sweeping changes within the underperforming ETF asset manager. Failure to reach an agreement, they said, means they will reveal all details of WisdomTree’s mismanagement to all concerned. ETFS and Lion Point currently own about 13.5% of the outstanding common stock of WisdomTree, and 21.4% of the company upon conversion of their Series A non-voting convertible preferred stock, making them the company’s largest economic holder.
