Happening in alts today: Lightmatter secures $400 million for photonic supercomputing, Hong Kong VC raises $220 million, Bridgepoint reinvests in Kiriba with General Atlantic, 3EDGE launches active ETFs, more.
Lightmatter raises $400 million in Series D funding for photonic supercomputing
New investors advised by T. Rowe Price Associates led a $400 million Series D funding round for photonic supercomputing specialist Lightmatter, with participation from existing backers including Fidelity Management & Research Company and GV (Google Ventures). This latest investment brings Lightmatter’s total capital raised to $850 million, valuing the company at $4.4 billion. Lightmatter plans to utilize this capital to prepare its Passage technology, touted as the world’s fastest photonic engine, for widespread deployment in partner data centers.
Hong Kong VC firm raises $220m for fourth fund
Hong Kong-based VC firm MindWorks Capital closed its fourth fund, along with parallel and committed co-investment vehicles, with over $220 million in commitments. Eaton Partners, placement agent and fund advisory firm owned by Stifel Financial, served as the global exclusive placement agent.
The close of MindWorks Ventures Fund IV brings the firm’s total assets under management to over $1.4 billion. The firm’s portfolio is diversified across early-stage venture capital investments in Greater China, Southeast Asia, and global markets.
Bridgepoint reinvests in Kiriba, General Atlantic joins as minority investor
Bridgepoint is reinvesting in Kiriba, a SaaS provider of intelligence and financial automation solutions that help companies and banks enhance their financial performance and boost operational efficiency. General Atlantic is also joining Bridgepoint as a new minority investor in Kiriba. The transaction values the company at over $3 billion and is anticipated to close in the fourth quarter of 2024. No additional financial details were disclosed.
Alter Domus refines middle office services for private debt
Alter Domus, a tech-enabled service provider for the alternative investment industry, has enhanced its middle office services within its comprehensive private debt offering. The refined offering combines services, proprietary technology, and data integration to help private debt managers, broadly syndicated loan managers, and CLO managers scale their strategies and address evolving needs. Alter Domus’s middle office service suite encompasses loan services and agency services, catering to the specific requirements of fund administration, asset services, and corporate services in the alternative investment sector.
3EDGE Asset Management launches suite of actively managed ETFs
3EDGE Asset Management, a multi-asset investment management firm catering to the advisor marketplace, has introduced its suite of 3EDGE ETFs. The suite consists of four actively managed funds: 3EDGE Dynamic U.S. Equity ETF (Ticker: EDGU), 3EDGE Dynamic International Equity ETF (Ticker: EDGI), 3EDGE Dynamic Fixed Income ETF (Ticker: EDGF), and 3EDGE Dynamic Hard Assets ETF (Ticker: EDGH).
Multiple turnkey asset management platforms have already converted their accounts to leverage the advantages offered by these ETFs. Since their debut on the NYSE on Oct. 3, these new funds have attracted nearly $200 million in investments.