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Do crowdfunding platforms need a middleman?
The startup ecosystem has exploded in recent years and with it the proliferation of crowdfunding platforms like Kickstarter and Indigogo. Such platforms are a great alternative for those who cannot access traditional venture capital. That said, some founders struggle to make themselves heard above the noise and secure the cash they need. Enter the crowdfunding agency. AlleyWatch reports that this growing…
Daily Scan: Asian shares trade mixed; China cracks down on underground banks
Updated throughout the day Weighed by a strong yen, a weak dollar, and fading enthusiasm over the Fed rate hike, Asian shares traded mixed on Friday with the Hang Seng Index down 0.19%, the Shanghai Composite up 0.07%, and the Nikkei 225 down 0.22%. Here’s how the rest fared: Hang Seng China Enterprises Index: -0.22% Shenzhen Composite: +0.59% Straits Times…
People Moves: Citic Securities chair to retire; Citi appoints new APAC TMT head
Citic Securities chair steps down. Wang Dongming, without a doubt one of China’s banking heavyweights, will be stepping down as chairman of Citic Securities, citing to his age. His departure comes just as several of his top lieutenants were detained under suspicions of insider trading. Wang, who headed the firm since its 1995 founding, is expected to be replaced by…
People Moves: Eastspring hires four new PMs, MIS Japan appoints new director
Martin Currie Asia names Martin Shenfield non-executive director. Shenfield, who travels extensively throughout the region having worked in Tokyo, Hong Kong, and Singapore, is a senior macro strategist at Lombard Street Research. Martin Currie Asia Eastspring Investments hires four new PMs. Bonnie Chan, Jefferies’ former Hong Kong-based transportation and infrastructure senior analyst, will be joining the firm as portfolio manager…
VC-backed tech IPO data makes for grim reading
<p>Square’s value soared as much as 64% on its market debut on Thursday, beating expectations following a lacklustre pricing. While the payments startup’s debut was not as bad as feared, recent data shows the overall state of venture capital-backed tech IPOs probably is.</p> <p>Data published by CB Insights shows that, in the last three years since Facebook’s May 2012 IPO, U.S. VC-backed tech IPOs have returned a mere 7.05% on average. By comparison an equal weight S&amp;P 500 ETF returned 67% over the same period.</p> <p>In short, if you invested in the S&amp;P 500, your return would be 8x higher than if you had backed every single VC-backed tech IPO over the same period.  </p> <p>This is largely thanks to the rise of the “private IPO”. With tech startups seeking higher valuations in order to raise more and more cash through private-mega rounds, many are finding that by the time they list most of the returns have been squeezed out. Now we are beginning to see the fallout.<br /> Photo: Alison E Dunn<br /> &nbsp;</p>
Asian and Russian homebuyers halt London invasion
Good news for Londoners priced out of their own housing market. The turmoil in China's equity markets and weak emerging market currencies has put off Asian and Russian buyers who last year snapped up a third of the most desirable homes in the capital's richest boroughs. "Asian homebuyers made up 26% of those buying homes in areas such as Kensington, Chelsea and&hellip;
Daily Scan: Asian futures climb; Fed officials try to dial back expectations
Updated throughout the day November 20 The U.S. may have closed essentially flat, but if stock index futures are anything to go with, it looks like Asia’s set to rip higher. Contracts on Hong Kong’s Hang Seng Index are signaling a 0.12% pop at the open, while those on the CSI 300 point to a 1.69% jump over in the&hellip;
Daily Scan: Match and Square show strong debut; Lockhart nervous about inflation
Updated throughout the day November 19 The U.S. markets were fairly stagnant Thursday, with the exception of some IPO and earnings excitement. No real move from the major indexes. Match Group, parent of Tinder and other dating apps, opened at $13.50 in its public debut, up 12.5% from the IPO pricing. The Gap tumbled more than 1% after it slashed its 2015&hellip;
Credit Suisse tries to explains lagging hedge fund performance
Hedge Funds
An odd returns dispersion has occurred over the past months, a Credit Suisse report notes. Hedge funds generally had difficulty in August and September as the stock market faltered but when markets rebounded in October, many well-known hedge funds once again lagged the indexes. Hedge funds underperform in October Credit Suisse notes Citing the CSAM Hedge Fund Master’s index gain&hellip;
Video: Jack Dorsey sees contactless payments taking off; IPO up 50% on NYSE
Jack Dorsey shares with CNBC that 350,000 small businesses have pre-ordered readers for a device that will enable customers to use Apple Pay or chip-enabled credit cards. They cost $49 each. In an interview, the Square CEO says that stores testing the contactless and chip card readers say customers are using the option half of the time-- a sign that&hellip;