Health tech venture firm OTV closes new $170 million fund and expands into Asia

OTV (formerly known as Olive Tree Ventures), an Israeli venture capital firm that focuses on digital health tech, announced it has closed a new fund totaling $170 million. The firm also launched a new office in Shanghai, China to spearhead its growth in the Asia Pacific region.

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OTV currently has a total of 11 companies in its portfolio. This year, it led rounds in telehealth platforms TytoCare and Lemonaid Health, and its other investments include genomic machine learning platform Emedgene; microscopy imaging startup Scopio; and at-home cardiac and pulmonary monitor Donisi Health. OTV has begun investing in more B and C rounds, with the goal of helping companies that already have validated products deal with regulations and other issues as they grow.

OTV focuses on digital health products that have the potential to work in different countries, make healthcare more affordable, and fill gaps in overwhelmed healthcare systems.

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An $11 billion tech-focused hedge fund scored a 52% gain by betting on Tesla and against scandal-ridden Wirecard this year, a report said

  • Coatue Management scored a 52% gain this year by betting on Tesla and against German fintech Wirecard, the Financial Times reported.
  • The $11 billion tech-focused hedge fund is run by “Tiger cub” Philippe Laffont, who previously worked at billionaire Julian Robertson’s Tiger Management.
  • Coatue held 3.1 million Tesla shares at the end of the third quarter that are now worth $1.3 billion, the FT said.
  • The fund’s performance eclipses the average 17% return gained by tech-focused hedge funds this year.
  • Visit Business Insider’s homepage for more stories.

New York-based Coatue Management has been one of the best-performing big hedge funds in 2020, scoring a gain of 52% through November. 

Coatue made its notable gain by betting on Elon Musk’s fast-rising automaker Tesla and against scandal-plagued German payments processor Wirecard, according to the Financial Times. 

The tech-focused fund makes long-short investment strategies, meaning that it buys equities that

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Rider University receives $4 million gift to fund expansion of Science and Technology Center

The one-story addition will expand the size of the building to more than 79,000 sq. ft. and provide modern labs and classroom space for cybersecurity, anatomy and physiology, as well as an evolving program in software engineering. The $7.5 to $8 million project will support a new greenhouse, along with distinct areas meant to encourage collaboration and study.

“We’re particularly excited about this leadership gift for our Science and Technology Center expansion project,” says Rider President Gregory G. Dell‘Omo, Ph.D. “We’ve seen tremendous growth in our science majors and this construction project will provide us with an opportunity to introduce new, high demand majors.”

Hennessy met his wife, Patrice “Patti” Shelmet Hennessy ’82, at Rider when they were both students. Patti, who passed away in January after a long illness, graduated with a bachelor’s in office administration. Hennessy, who earned a bachelor’s in political science, is the founder and

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EU Looks to Sideline Poland and Hungary With ‘Plan B’ Virus Fund

(Bloomberg) — European Union leaders are readying a back-up plan that can cut budget holdouts Hungary and Poland out of a multi-billion dollar stimulus fund and still hold them to rule-of-law conditions they adamantly oppose.



a group of people walking in the rain holding an umbrella: Main Market Square amid Coronavirus partial lockdown, Krakow, Poland.


© Photographer: NurPhoto/NurPhoto
Main Market Square amid Coronavirus partial lockdown, Krakow, Poland.

The eastern European nations’ leadership dug in on Wednesday against their 25 EU peers at a meeting of government envoys in Brussels. They continued to wield their veto over the aid package aimed at fueling a post-pandemic recovery as the clock ticks down to the end of the year, when a no-deal will trigger an emergency budget for the entire bloc.

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With Warsaw now saying it can do without the money and Budapest ready to allow EU states to skirt the need for unanimous approval via inter-governmental agreements, officials in the bloc are now focusing on what’s they’re calling “Plan B.”

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California must fund independent science research

opinion

This year, California broke a sad record. We had the largest wildfire in modern history, burning more than 1 million acres over seven counties and sending choking smoke across the state. Recently, 90,000 people were evacuated from their homes in Southern California. The untold level of destruction has yet to be fully quantified or understood. One thing we do know is that the wildfires and COVID-19 have underscored the growing complexity of California’s disaster landscape. 

While addressing these issues remains a top priority in Sacramento, according to a new report from the California Council on Science & Technology, our capacity for doing so is limited by a concerning inability to accurately account for the full costs associated with the damage. The council’s report finds that our standard means of calculating wildfire costs do not provide sufficient data, leading to widespread unquantified losses such

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Rider Receives $4M To fund Expansion Of Science and Tech Center

LAWRENCEVILLE, NJ — Rider University received $4 million in leadership gift from alumnus Mike Hennessy, to expand the science and technology center. The announcement was made on Monday, when the university broke ground on a new wing at the science center.

The gift is the largest ever received at Rider for the sciences.

“This is such an impactful gift for Rider as it will provide for the continued growth of our programs in the sciences,” says Kelly Bidle, dean of the College of Liberal Arts and Sciences.

“This project underscores Rider’s commitment to providing students with the resources and training needed to pursue careers in high-demand fields. We are deeply grateful that it has gotten support at this level,” Bidle said.

The University plans to name the building the Mike and Patti Hennessy Science and Technology Center. The construction is scheduled to be completed January 2022.

Hennessy met his wife,

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Templeton Emerging Markets Fund, Inc. (“EMF”) Announces Distribution

Press release content from Business Wire. The AP news staff was not involved in its creation.

FORT LAUDERDALE, Fla.–(BUSINESS WIRE)–Dec 1, 2020–

Templeton Emerging Markets Fund, Inc. (NYSE: EMF) today announced a total distribution of $0.657, comprised of net investment income of $0.1803 per share, short-term capital gains of $0.0449 per share and long-term capital gains of $0.4318 per share, payable on December 31, 2020, to shareholders of record on December 15, 2020 (Ex-Dividend Date: December 14, 2020).

Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 165 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company brings extensive capabilities in equity, fixed income, multi-asset solutions and alternatives. With offices in more than 30 countries and

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Oyo Has $1 Billion to Fund Operations Until IPO, CEO Tells Employees

(Bloomberg) — Ritesh Agarwal, founder and chief executive officer of Oyo Hotels, told employees the Indian startup is making progress in recovering from the coronavirus fallout and has about $1 billion to fund operations until an initial public offering.



A pedestrian walks past an Oyo hotel, operated by Oyo Hotels Japan G.K., in Tokyo, Japan, on Monday, Jan. 27, 2020. Oyo has drawn particular attention in SoftBank Group Corp.’s portfolio of startups because of its similarities to WeWork. Both are trying to change traditional real estate businesses with technology. Both have charismatic young founders. Now, skeptics say Oyo could also fall short, further undermining Son’s grand ideas about technology investing.


© Bloomberg
A pedestrian walks past an Oyo hotel, operated by Oyo Hotels Japan G.K., in Tokyo, Japan, on Monday, Jan. 27, 2020. Oyo has drawn particular attention in SoftBank Group Corp.’s portfolio of startups because of its similarities to WeWork. Both are trying to change traditional real estate businesses with technology. Both have charismatic young founders. Now, skeptics say Oyo could also fall short, further undermining Son’s grand ideas about technology investing.

The 27-year-old entrepreneur made the comments in a fireside chat with Oyo board member Troy Alstead, after the once high-flying company endured months of layoffs and losses as Covid-19 hammered its business. Oyo is one of the largest

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The Mortgage Collaborative launches emerging technology fund

The Mortgage Collaborative, an independent cooperative network in the mortgage industry, today announced the launch of TMC Emerging Technology Fund LP, a venture capital program funded by a self-selected segment of TMC members to capture opportunities driven by the rapid pace of technological change in the mortgage sector.

Inspired by member suggestions during a CEO Roundtable session last year, the fund will pool member resources to level the playing field with the largest lenders in the mortgage industry who enjoy a scale advantage in sourcing, vetting, acquiring and adopting new technology. 

“To stay competitive in today’s market, technology adoption and integration is key.  However, the cost of customized technology solutions for small and mid-sized lenders can be prohibitive and can be difficult to scale,” TMC COO Rich Swerbinsky said. “By launching TMC Emerging Technology Fund, we are providing our members with a mechanism to get ahead of the technology adoption

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Eric Schmidt backing Firstminute’s new European venture capital fund

Eric Schmidt, chairman of Alphabet Inc.

David Paul Morris | Bloomberg | Getty Images

LONDON — Eric Schmidt, the former CEO of Google, is one of several tech executives backing a new early-stage European venture capital fund.

The tech billionaire — who has a net worth of $20 billion, according to the Bloomberg Billionaire Index — has invested an undisclosed amount into a $111 million fund that was announced Monday by London-headquartered VC firm Firstminute Capital.

Firstminute was founded in 2017 by Lastminute.com co-founder Brent Hoberman and former Goldman Sachs analyst Spencer Crawley. It launched with a $60 million fund I (that grew to become $100 million) and this second fund brings total assets under management up to $211 million.

RTI Capital Partners is the second fund’s main investor, but Chinese tech giant Tencent, venture firm Atomico, and private equity firm Vitruvian have also invested.

The founders of big data

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