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Startup Moldova Summit on March 14th: A Growing Tech Ecosystem to Watch

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CHISINAU, Moldova, Feb. 6, 2024 /PRNewswire/ — Moldova, a small Eastern European nation, is quietly emerging as a hub for startups and investors in the tech ecosystem. With a population of 2.45 million and a GDP of $45.02 billion, this nation is making significant strides in rebuilding and prospering since gaining independence from the Soviet Union in 1991. One key indicator of its growth is the remarkable surge in Foreign Direct Investment (FDI), which reached $264 million in 2021, constituting about 35% of the country’s GDP. This growing interest from global investors highlights Moldova’s potential on the international stage.

 

What sets Moldova apart are its distinctive qualities, including the presence of Europe’s first e-park, the Moldova Innovation Technology Park (MITP). Established in 2018, MITP boasts 1200 active residents and 200 companies with foreign capital from 40 countries. It offers startups in Moldova access to a highly skilled IT workforce, competitive labor costs, favorable visa options, and one of the lowest taxes in Central and Eastern Europea flat 7% tax on revenue.

Moldovan startups are increasingly realizing the benefits of collaborating with neighboring Romania, fostering a mutually beneficial business dynamic. Shared language and proximity facilitate cross-border ventures, providing Moldovan startups with access to the broader European market through Romania. Successful examples like Fagura and Planable demonstrate the effectiveness of this strategy, while Romania benefits from Moldova’s innovation and skilled talent pool.

Overview of Moldova’s Startup Scene:

Number of Startups: Moldova currently boasts 82 startups, spanning various industries from AgTech and InsureTech to WineTech, all contributing to the nation’s growing entrepreneurial spirit.

Startup Funding: In 2022, 11 Moldovan tech startups raised a total of $11 million in funding, a significant increase in confidence from both local and international investors. These startups secured investments from VCs worldwide, with the average deal amount standing at €865k.

   – XOR AI ($2.7M)
   – Brizy.io ($2.4M)
   – Greeno (€2M)
   – ENABLD ($1.4M)
   – Bloomcoding (€1.1M)
   – Fagura (€786,845)
   – SelfTalk (€150k)
   – EdooSitter (€120k)
   – EasyPlan (€90k)
   – Doctorchat.md (€50k)
   – UNDE.io (€10k)

Financing Landscape: Moldova’s startup ecosystem enjoys support from various investor groups and organizations. Business Angels Moldova, Mozaic, investiții.md, XY Partners, Startup Moldova, Moldovan Association of ICT Companies, Orange Moldova, Orange Systems, the European Bank for Reconstruction and Development, and the Western NIS Enterprise Fund all play crucial roles in supporting startups in their investment journey. Additionally, CEE VCs like Gapminder, Credo, Fuel Ventures, Inovo, and others frequently explore opportunities in Moldovan startups.

Tech Talent and Workforce: The Moldovan startup scene benefits from a pool of over 20,700 IT specialists proficient in Romanian, Russian, English, and often French. This talent pool covers various domains, including data analytics, UI/UX design, software development, application development, and game development. The 7% flat tax rate for employers further incentivizes hiring IT professionals in Moldova.

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Ecosystem Initiatives and Support: The Moldovan government and various organizations actively promote the startup environment through initiatives such as conferences, incubators, and mentorship programs. Ecosystem builders like Startup Moldova, Dreamups, Yep Moldova, Technovator, XY Partners, Moldova Innovation Technology Park, and others create an enabling atmosphere for startups.

The upcoming Startup Moldova Summit on March 14th is an excellent opportunity to explore the thriving Moldovan startup ecosystem. The event will bring together startup enthusiasts, IT professionals, businesses in search of innovation, investors, and industry experts. It will feature knowledgeable speakers and investors, providing valuable insights and networking opportunities. Additionally, a pitch competition will offer startups a platform to present their ideas to potential investors.

As Moldova continues to grow its tech startup landscape, it’s a country worth watching for both investors and entrepreneurs seeking new opportunities in the dynamic Central and Eastern European region.

Video – https://www.youtube.com/watch?v=ROwdQ95WmW0&t=49s

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Tabono Capital Announces Strategic Partnership with Invesco to Deliver Enhanced Investment Solutions for UHNW Clients

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SINGAPORE, Nov. 26, 2024 /PRNewswire/ — Tabono Capital today has announced a strategic partnership with Invesco that enhances investment solutions for ultra-high-net-worth clients.

Tabono Capital, a multi-family office based in Singapore, collaborates with Invesco, a global investment management leader with over US$1.7 trillion in assets under management. This partnership merges Invesco’s institutional-grade investment expertise, cutting-edge portfolio solutions, and comprehensive research capabilities with Tabono Capital’s strong relationships with ultra-high-net-worth (UHNW) families across the Asia Pacific and Middle East regions.

This collaboration enables Tabono Capital’s clients to benefit from the extensive resources and scale of Invesco’s capabilities. For Invesco, the partnership provides enhanced access to sophisticated investors in key growth markets.

Key elements of the partnership include:

  • Implementation and construction of model portfolios and asset allocation frameworks
  • Access to institutional-grade investment research and comprehensive market insights for UHNW clients
  • Knowledge sharing and collaboration on market intelligence and investor insights

Nirish Unni, CEO & Co-Founder of Tabono Capital, emphasized the significance of the partnership: “This partnership represents a significant milestone in our growth strategy. By leveraging Invesco’s world-class investment research and asset allocation capabilities, we can provide our clients with institutional-grade investment solutions while maintaining the personalized service they expect from a boutique multi-family office.”

Santosh Rao, Co-Founder and Chief Revenue Officer of Tabono Capital, added: “Our clients increasingly seek institutional-quality investment solutions with global reach. This collaboration with Invesco allows us to deliver exactly that, while maintaining our personalised approach to client service. Together, we will create portfolios designed to capture opportunities in key global markets while effectively managing risk.”

Christopher Hamilton, Asia Pacific Head of Client Solutions for Invesco, stated: “We’re proud to partner with Tabono Capital to bring our industry-leading offerings and capabilities to Asia’s expanding family office and UHNW segment. This is a compelling platform for investors to access comprehensive strategies that can help them meet their financial goals.”

About Tabono Capital

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Tabono Capital is a multi-family office headquartered in Singapore, licensed by the Monetary Authority of Singapore (MAS) to provide Fund Management services. Co-founded by industry veterans and former private wealth managers Nirish Unni and Santosh Rao, the firm caters to ultra-high-net-worth families across the Asia Pacific and MENA regions, offering comprehensive wealth management and family office solutions. For more information, visit https://tabonocapital.com

Contact: [email protected]

About Invesco

Invesco Ltd. (NYSE: IVZ) is a global independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. With offices in more than 20 countries, our distinctive investment teams deliver a comprehensive range of active, passive and alternative investment capabilities. For more information, visit www.invesco.com/corporate.

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Protecht launches advanced controls management solution

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SYDNEY, Nov. 25, 2024 /PRNewswire/ — Protecht Group, a global leader in enterprise risk management solutions, has released its innovative controls management solution. This cutting-edge tool empowers organizations to design, implement, and maintain a robust controls framework, streamlining compliance and enhancing operational efficiency.

Protecht’s controls management solution addresses the challenges faced by risk and compliance leaders in managing controls across complex regulatory environments. By integrating controls management into the organization’s broader ERM framework, the solution provides a centralized approach to mitigate risks, achieve compliance, and enable organizations to focus on strategic growth.

As organizations face increasing regulatory pressures, the need for a unified, efficient approach to controls management has never been greater. Many businesses struggle with fragmented processes, duplicated efforts across frameworks, and limited visibility into controls effectiveness. Protecht’s controls management solution simplifies these complexities by providing a single source of truth for controls assurance activities.

Key features of Protecht’s controls management solution

  • Centralized controls library: Offers a single repository for all control data, tailored to align with organizational needs and regulatory frameworks.
  • Simplified control testing: Streamlines the testing process with pre-built templates, automated scheduling, and real-time tracking of progress and results.
  • Framework library: Enables seamless mapping between controls and multiple regulatory standards to eliminate redundancies and simplify compliance efforts.
  • Advanced reporting and dashboards: Provides real-time insights into control effectiveness and areas requiring improvement, ensuring confidence in decision-making and risk management strategies.

“Protecht’s Controls Management solution simplifies the way organizations handle compliance and risk assurance,” says Damien Stevens, Chief Product & Marketing Officer at Protecht. “By integrating controls into the broader enterprise risk framework, we provide our customers with the tools they need to mitigate risks, optimize efficiency, and align their control environments with their strategic objectives.”

Supporting resources

To help organizations maximize the benefits of the new solution, Protecht offers a range of resources, including:

  • Live webinars showcasing the solution’s capabilities for risk and IT professionals alike
  • Product tours showing how the solution lets you solve specific controls-related problems
  • A comprehensive eBook on building effective controls frameworks
  • Opportunities to book a demo and see the solution in action

Find out more and download a brochure at www.protechtgroup.com/solutions/controls-management

About Protecht Group

Headquartered in Sydney, Australia, with offices in London and Los Angeles, Protecht Group provides innovative risk management solutions, including the Protecht ERM platform. Trusted by organizations across government, financial services, education, and other industries, Protecht empowers businesses to manage risk holistically, transitioning from spreadsheets and manual processes to efficient, integrated systems.

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Robert Rahman Joins Dinosaur Group Holdings to Head its New Global Corporate Credit Securities Market Unit in the US, Europe & Asia

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NEW YORK, Nov. 25, 2024 /PRNewswire/ — Dinosaur Financial Group LLC. (DFG), a New York based Investment Firm and Dinosaur Merchant Bank Ltd. (DMBL), a London based Institutional Brokerage announced the joining of Robert Rahman as the Global Head of the newly created Global Corporate Credit Securities (GCCS) unit.

Dinosaur Group’s new GCCS initiative seeks to provide clients with an alternative to the bulge bracket that will not compete with clients and seeks to offer those clients, a partner that can deliver reliable and trustworthy execution capabilities in a difficult liquidity backdrop. Robert’s new unit will complement the firm’s existing global footprint in Fixed Income. 

Robert will oversee the sales, trading, and research business globally for  Corporate Investment Grade, High Yield, Distressed, Stressed, Special Situations, Levered Loans, Re-Org Equities, Trade Claims, Private Credit and Converts within the GCCS unit.

Before Dinosaur, he was the Head of High Yield, Distressed and Loans within the capital markets division of Oppenheimer and Co (OPY) where he worked for the last 16 years. He has also been a senior member of Morgan Stanley’s High Yield sales team and has over 30 years of experience in all aspects of Institutional Credit. Robert started his career as a Credit Analyst within Salmon Brothers revered “Corporate Bond Research” team and at Donaldson, Lufkin & Jenrette’s “Leveraged Finance Research” team.

Announcing his appointment, Glenn Grossman, CEO, Dinosaur Group said, “Robert’s deep client and issuer relationships along with his previous success in leading and building global credit teams will help the group to provide institutional clients with an additional liquidity platform for one stop credit trading across the world. We are very excited to see the new business grow under his leadership.”

Elliot Grossman, Managing Director added, “With Robert’s leadership, the group seeks to help institutional investors by providing capital to help facilitate trades versus being another riskless agency credit shop.”

Speaking about joining the Dinosaur group and his plans for the new business, Robert said, “I was attracted to the group given its established track record of providing client solutions in Fixed Income, globally for the past 25 years. My focus will be to provide institutional investors with an enhanced global liquidity platform for the US, European and Asian markets. I look forward to building this business at DFG.”

He also stated, “Sourcing trading block paper is nuanced and requires deep and long-standing client relationships from the trader, analyst, PM and CIO level. The new team will look to gain Fixed Income clients’ trust, add value and provide liquidity while so many competitors retrench.”

About Dinosaur Group Holdings

Dinosaur Group Holdings (DGH) is the holding company for Dinosaur Financial Group LLC. (DFG), an investment firm registered with the SEC and a member of FINRA and SIPC, Dinosaur Merchant Bank Ltd. (regulated by the FCA) and New York-based SEC-registered investment firm DCM Advisors, LLC.

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Deploying a team of approximately 150 professionals, the overall organization provides global execution services, financing and advisory expertise/insights for equities, fixed income, commodities and derivatives, investment management as well as a suite of investment banking services providing financial solutions and capital markets execution to the middle market client base, both domestically and globally. Clients and counterparties spanning six continents are primarily institutions, family offices, asset managers, hedge funds, and corporations. Dinosaur Group takes pride in the business’ stable management, strong compliance, solid operations, and diverse talent.

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