Is Preqin the Answer to Unlocking the Alts Market?

Author

Noel Moldvai
July 05, 2024

Good Afternoon! We hope you had a wonderful 4th of July. Instead of sending the newsletter out yesterday we were tied up launching fireworks, firing off M80’s, and procuring a bald eagle for the Augment office. There are some exciting things happening in tech this week with the Preqin acquisition and Epic and Apple getting back in their old ways of fighting.

TL;DR

  • BlackRock’s Fink: Buying Preqin unlocks 'democratization of all alternatives'

  • Forestay, Europe’s newest $220M growth-stage VC fund, will focus on AI

  • Neuralink competitor Paradromics gears up to test its brain implant on humans

  • Epic Games Lashes Out at Apple Over App Store Rejection

Fink Says Prequin is Key in Unlocking Private Markets

BlackRock CEO Larry Fink highlights the acquisition of Preqin as a key step in democratizing private markets. The move aims to make alternative assets like private equity, credit, and real estate more accessible and transparent. BlackRock plans to integrate Preqin’s data into its platform, expecting significant revenue growth.

Europe’s Newest Fund is All in on AI

Forestay, a Geneva-based VC, closed its second fund at $220 million, focusing on $10-15 million growth rounds in Europe and Israel. Led by Frederic Wohlwend, the fund targets enterprise AI and SaaS startups. Notable investments include Scandit, Nexthink, and Neural Concept. Founded by B-Flexion, Forestay emphasizes a focused, enterprise-centric investment strategy.

Paradromics Near Ready for Human Trials

Neurotech startup Paradromics will trial its brain implant next year, aiming to lead in the brain-computer interface space. CEO Matt Angle emphasizes high-speed, high-data-rate devices for interacting with numerous neurons. With $105M in funding, Paradromics focuses on aiding patients with communication loss due to conditions like ALS. Commercial approval is anticipated by 2029.

Epic Games in a Tiff with Apple (again) over Store Rejection

Epic Games criticized Apple for rejecting its proposal for a rival iOS App Store, claiming the design was too similar to Apple's. Epic argues this violates the Digital Markets Act and limits competition. The dispute highlights ongoing tensions over app market control, with Epic planning to continue seeking approval for its iOS store in the EU.

More News and Links

Until next week!

Cheerio,

-Noel