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Mayumi Negishi – The Wall Street Journal
Alex Barinka & Dinesh Nair – Bloomberg (subscription)
Sam Nussey – Reuters
SoftBank Group CEO Masayoshi Son, founder of the world’s largest private equity fund, said that a second Vision Fund would be set up in the near future, with funds from investors in the first venture or institutions. Son’s reputation as a visionary investor has attracted more than $93 billion to his technology investment vehicle, as of last May, with a second Vision Fund potentially further upending the world of dealmaking.
FAO: Can Silicon Valley and Wall Street keep up this pace?
Katie Roof – The Wall Street Journal (subscription)
Cisco Systems is starting up a new venture fund that will run independently from the parent company, people familiar with the matter say. The Silicon Valley company, which historically has invested from its cash reserves, plans to be the anchor limited-partner investor in the new venture fund and invest hundreds of millions of dollars in the next crop of enterprise startups, these people say.
Reuters Staff – Reuters
Chinese Internet security firm 360 Security Technology said it plans to raise up to 10.8 billion yuan ($1.69 billion) in a private placement of shares to fund projects in fast-growing areas such as artificial intelligence and big data.
FAO: Money flying around everywhere in the world…
Deal Street Asia
Deutsche Bank has acquired Mumbai-based fintech Quantiguous Solutions, while PayMate has bought P2P lending platform Zaitech Technologies. Meanwhile, Cyient Ltd has taken full ownership of its data science unit Cyient Insights.
FAO: Latest fintech deals in India…
Zen Soo – SCMP
Ant Financial will drastically reduce the amount of money that investors can withdraw each day from its money market fund, in a move it said was taken of its own accord to manage liquidity risk.
FAO: Ant Financial recently announced it is adding two new money market funds to its online wealth management platform Yu’e Bao.
Maggie Zhang – SCMP
More than a third of wealth management products sold in mainland China in 2017 were retailed online, according to a report released by consultancy major The Boston Consulting Group and internet finance company Lufax Holdings.
FAO: Ant Financial’s online wealth management platform Yu’e Bao (discussed above) is the biggest money market fund in the world.
Ari Levy – CNBC
SoFi CEO Anthony Noto, who left Twitter earlier this year to take over the online lender, has just sent his first quarterly letter to shareholders. While he didn’t address the sexual harassment allegations that led to the ouster last year of co-founder Mike Cagney, Noto did broadly discuss the establishment of “our mission and our company values.”
FAO: Let bygones be bygones…
Jack Stubbs – Reuters
Moscow-based Kaspersky Lab plans to open a data center in Switzerland by the end of next year to help address Western government concerns that Russia exploits its anti-virus software to spy on customers.
Emma Dunkley & Yuan Yang – Financial Times (subscription)
WeChat is in talks about developing a messaging service aimed at allowing international bankers to discuss bond trades with China-based bankers without breaching compliance rules that were implemented in the wake of a series of high-profile rate-rigging scandals.
Clare Dickinson – Financial News (subscription)
Deutsche Börse is to launch an acceleration platform for fintech firms, a move that comes as initiatives designed to help startups come to market fall out of favour.
The German exchange and its post-trade services provider Clearstream are teaming up with two fintech startups for the programme, which they hope to launch in Q4 of this year, according to a statement.
FAO: Another initiative targeting London’s fintech sector.
Clare Dickinson – Financial News (subscription)
Thomson Reuters is planning to move a key trading platform from London to Dublin to ensure it can continue operations in the European Union after Brexit — joining the growing number of financial services firms heading to the Irish capital. Thomson Reuters is applying to the Central Bank of Ireland for approval to operate its fx multilateral trading facility in the city.
Chris Rowley – SCMP
Chris Rowley says the hunt for the city that will take over London’s mantle as the top global financial centre has been unduly focused on Europe, when Asia is the region to watch.
Catherine Clifford – CNBC
FAO: How many fintech companies can you count there?
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FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News