Exclusive: Tiger Global Pumps $6 mn More into Video Platform TVF in Down Round (VCCircle.com)
The Viral Fever (TVF), an over-the-top (OTT) platform which creates original video content, has raised an additional $6 million (around Rs 41 crore at current exchange rates) from existing investor Tiger Global, two persons with direct knowledge of the matter told VCCircle. Operated by Contagious Online Media Network Pvt. Ltd, TVF raised the fresh capital at an estimated post-money valuation of around $40 million (around Rs 270 crore), one of the above-mentioned persons said on the condition of anonymity.
Hedge Fund Titan Paulson Takes on Tiny Toronto Gold Miner (The Wall Street Journal)
John Paulson made his name betting against the U.S. housing market and taking on American International Group Inc. Now his hedge fund is zeroing in on a small Toronto-based gold miner that in April cut its 2018 free cash flow guidance in half. A clash between Paulson & Co. and Detour Gold Corp. heated up this week, centering on differences over strategy and an exchange of barbed comments.
Hedge fund Elliott raises stake in Japan’s Alpine (Reuters)
TOKYO (Reuters) – U.S. hedge fund Elliott Management has raised its stake in Alpine Electronics Inc (6816.T) to 6.3 percent, a regulatory filing showed, in a move that could add pressure on the Japanese company to reward minority shareholders. That followed a filing last week that showed Elliott had taken a 5.12 percent stake, saying it could make “significant proposals” to the components maker. Elliott’s stake buy comes as Hong Kong-based activist fund Oasis Management, which holds a near-10 percent stake in Alpine, attempts to block the sale of Alpine to larger affiliate Alps Electric Co Ltd (6770.T), arguing the sale price is low.