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Vesalius Biocapital Announces First Close of Fourth Fund Raising EUR 95 Million

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  • Significant support from investors including the European Investment Fund
  • Fund to invest in first and best-in-class European life science companies in drug development and digital health

STRASSEN, Luxembourg, June 29, 2023 /PRNewswire/ — Vesalius Biocapital, the specialist life sciences venture capital investor, announces the first close of its fourth fund, Vesalius Biocapital IV, securing over €95 million of commitments. The fund has attracted blue chip investors including the European Investment Fund (EIF). Starting immediately Vesalius Biocapital IV is to invest in first and best-in-class European life science companies in drug development and digital health. The goal is to build a well-balanced portfolio of 10-15 companies, providing capital and the Vesalius team’s experience and expertise to support their development.

Now in its sixteenth year, Vesalius Biocapital has a successful track record of backing highly innovative companies and has raised over €270 million from a renowned investor base for its three previous funds. It has completed over 30 investments with lead or co-lead positions and achieved numerous exits through trade sales and IPOs. These include: Forendo, acquired by Organon; Sword Health sold to a group of private equity investors; Apitope acquired by Chinese company Worg Pharma; and Ogeda acquired by Astellas Pharma. With a well-balanced portfolio between drug development and non-drug development investments, Vesalius has a successful track-record of strong and consistent financial performance and has generated significant returns for its investors.

Commenting on the first close, Stéphane Verdood, Managing Partner at Vesalius Biocapital IV said:

“Our successful track record placed us in a strong position to attract high quality investors such as the EIF (European Investment Fund) to Vesalius Biocapital IV. Furthermore, it is fantastic validation of our investment approach and strategy that a significant number of investors in our previous funds are backing us in Vesalius Biocapital IV. This is an exciting time in healthcare; the industry is at a key inflection point between science, technology and medicine, and our investors support our strategy to invest in companies developing innovative first in class products and technologies.”

Guy Geldhof, Managing Partner at Vesalius Biocapital IV, added:

“While our investment focus remains in Europe where we continue to see many high-quality life science companies, we will continue to help our portfolio companies to expand to the US to enable them to achieve optimum valuations and to access the US capital markets. We will also be looking to invest in North American companies that are looking to Europe for development, expansion or access to innovation.”

Marjut Falkstedt, Chief Executive Officer at the European Investment Fund, commented:

“The development of new therapies and digital health solutions are revolutionising the healthcare sector, but these innovations need targeted, dedicated investment. The EIF is glad to partner with Vesalius for its fourth fund, building on a strong track record in the sector, which also aims to channel investment towards underserved areas in the innovation landscape, particularly in southern Europe.”

Vesalius Biocapital IV is targeting €150M and will accept new investors on a “rolling closing” basis until the final closing in 2024.

ABOUT VESALIUS BIOCAPITAL

Vesalius Biocapital (Vesalius), the specialist life sciences venture capital investor, has supported companies active in human health through venture capital funds since 2007. In the sixteen years since inception, the three predecessor funds have raised over €270 million.

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The investment portfolio is well balanced between drug development and non-drug development investments and committed to providing capital to science-backed innovation and ambitious entrepreneurs, with a strong focus on exit within five years.

Vesalius Biocapital IV, launched in June 2023, targets first and best-in-class European life science companies in drug development and digital health. The fund secured over €95 million of commitments in a first closing in June 2023, with a target size of minimum €150 million.

The specialist team consists of seasoned life science professionals with healthcare industry, corporate finance and strategy development experience, supporting companies through their growth cycle. The team is based in Europe to explore investment opportunities and valuation potential for the portfolio. Managing Partners include Guy Geldhof, Dr Jean-Christophe Renondin and Stéphane Verdood. Partners include Dr Fabienne Roussel and Olivier Houben. The investment team is complemented by Dr David Cristina and Qasim Zawawi who joined as principals and Dr Hayley French and Dr Stephane Heymans who joined as venture partners.

 

View original content:https://www.prnewswire.co.uk/news-releases/vesalius-biocapital-announces-first-close-of-fourth-fund-raising-eur-95-million-301866629.html

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Nium and Partior Partner on Real-Time, Cross-Border Payments, Clearing and Settlement

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Nium becomes first fintech to join the blockchain-based network, enabling faster cross-border payments, added market reach, and greater transaction transparency

SINGAPORE, Nov. 5, 2024 /PRNewswire/ — Nium, the leading global infrastructure for real-time cross-border payments, today announced a partnership with Partior, the blockchain-based fintech for clearing and settlement at the Singapore Fintech Festival 2024. The partnership makes Nium the first fintech payment service provider (PSP) on the Partior network. Financial institutions will be able to connect with Nium via Partior for 24×7, transparent, real-time payouts, clearing, and settlement to over 100 markets worldwide. Importantly, the connection will require no additional API integration work, streamlining what historically took months of resource-intensive work.

This new partnership builds on Nium’s recent strategy to connect more networks to its real-time payments’ infrastructure. By joining the Partior network, Nium is extending its connectivity to one of the most innovative networks in the industry. Partior’s blockchain-powered platform effectively resolves longstanding inefficiencies in global payments, such as settlement delays, high costs, and limited transaction transparency. In today’s global landscape, where companies operate around the clock, effective liquidity management is essential for both corporate and financial institutions. This collaboration allows Nium to offer its clients the ability to execute real-time multi-currency payments and Payments versus Payments (PvP) settlements, further simplifying access to its global payments network.

“Nium’s partnership with Partior brings us closer to becoming the most connected payments network globally. By integrating with advanced networks, such as Partior, we are ensuring that financial institutions can quickly and easily access our real-time payments infrastructure without the need for complex technical integrations,” said Alexandra Johnson, Chief Payments Officer at Nium. “Recognizing how resource-constrained financial institutions are, we’re eliminating barriers to using our network and increasing interoperability to deliver on our mission of having seamless and streamlined real-time payments to anyone, anywhere.”

Humphrey Valenbreder, Chief Executive Officer at Partior said, “Partnering with Nium marks a significant step in our journey to further advance the global payments landscape. By combining Partior’s real-time blockchain settlement network with Nium’s vast global reach, we’re empowering financial institutions to break down long-standing barriers. Imagine a world where cross-border payments are instantaneous, transparent, and accessible to all. This is the future we’re building together.”

As part of its continued expansion, Nium’s partnership with Partior enhances its ability to facilitate frictionless global transactions and unlock new services such as intra-day FX swaps, cross-currency repos, programmable enterprise liquidity management, and Just-in-Time multi-bank payments for financial institutions worldwide.

Nium’s growing network, supported by these strategic partnerships, is setting a new standard for how financial institutions can access and benefit from global payments, paving the way for a more efficient and transparent financial ecosystem.

About Nium

Nium, the leading global infrastructure for real-time cross-border payments, was founded on the mission to deliver the global payments infrastructure of tomorrow, today. With the onset of the global economy, its payments infrastructure is shaping how banks, fintechs, and businesses everywhere collect, convert, and disburse funds instantly across borders. Its payout network supports 100 currencies and spans 220+ markets, 100 of which in real-time. Funds can be disbursed to accounts, wallets, and cards and collected locally in 40 markets. Nium’s growing card issuance business is already available in 34 countries. Nium holds regulatory licenses and authorizations in more than 40 countries, enabling seamless onboarding, rapid integration, and compliance – independent of geography. The company is co-headquartered in San Francisco and Singapore.

About Partior

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Partior, the blockchain-based fintech for clearing and settlement, is redefining the way value moves globally. Founded in 2021, Partior is backed by founding shareholders DBS, J.P. Morgan, Standard Chartered, and Temasek, and Series B lead investor Peak XV. Partior is addressing the operating inefficiencies experienced by industry players, including settlement delays, limited transaction transparency and high operating costs, and facilitates the movement of liquidity for financial institutions and their customers. Its network offers real-time multi-currency payments, and Payments versus Payments (PvP) settlement. Additionally, it is exploring new services including Intra-day swaps, Delivery versus Payments (DvP) settlement and enterprise solutions.

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Fintech Pulse: Industry Updates on Regulatory Pressures, Fraud Prevention, Humanitarian Finance, and Strategic Sales

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As fintech companies continue to shape the global financial landscape, regulatory pressures, fraud prevention, human-centered financial services, and high-stakes acquisitions are front and center. Today’s briefing dives into the most recent developments impacting the fintech ecosystem. The following op-ed reflects on these shifts, bringing an analytical view of the news from regulatory frictions to strategic partnerships, framed within the complex interplay between technology, finance, and global regulations.


Lawmakers Sound the Alarm on Fintech Regulatory Overreach

In the evolving U.S. fintech landscape, a tug-of-war between federal and state regulators is heating up. Lawmakers have raised concerns about regulatory overreach, warning that fragmented federal and state frameworks could hinder fintech innovation and growth. Federal agencies, particularly the Office of the Comptroller of the Currency (OCC) and the Consumer Financial Protection Bureau (CFPB), have clashed with state regulatory bodies. These frictions have emerged over issues like state licensing requirements, the use of “true lender” rules, and the boundaries of federal preemption.

As fintech firms work to innovate, they often encounter a regulatory quagmire where state and federal rules overlap or contradict each other. For instance, the “true lender” doctrine continues to provoke disputes on jurisdiction, as it can dictate the level of oversight a fintech lender might face. States argue that fintech companies leveraging national banking charters to circumvent state regulations are violating consumers’ rights and disrupting fair financial access.

From an op-ed perspective, it’s clear that this regulatory tug-of-war has significant implications for fintech firms and the consumers they serve. State-level regulators have a point: a more localized approach might better protect consumers from predatory practices and opaque pricing. However, the federal approach offers a harmonized path that could encourage interstate fintech expansion. The tension, however, threatens to stall industry innovation, leaving companies in regulatory limbo and consumers with uneven protections.

Source: PYMNTS News, October 2024


Fraud and AML Losses Increase, Pressuring Fintechs to Adapt

In a recent report by Unit21, the scale of fraud and anti-money laundering (AML) losses within the fintech sector has come into stark relief. The report highlights an estimated annual loss of billions for fintech companies due to fraud and AML breaches. Key issues range from inadequate identity verification processes to evolving cyber threats, which bad actors exploit to perpetrate fraud.

Unit21’s findings suggest that while fintech companies invest heavily in technology, they often fail to keep up with the agility of fraud tactics. The report underscores how fraudsters adapt to changes in fraud-detection protocols faster than expected, using techniques like synthetic identity fraud, account takeovers, and elaborate money laundering schemes. This has intensified the need for robust Know Your Customer (KYC) and AML mechanisms, as traditional defenses prove ineffective against modern fraud techniques.

From an op-ed lens, the impact of fraud losses on fintechs isn’t limited to financial losses. It also erodes trust, one of the most valuable assets for fintech platforms. To maintain consumer confidence, companies must take a more proactive stance in combating fraud. Advanced solutions incorporating AI and machine learning are pivotal for effective fraud detection and prevention, yet they must be implemented carefully to avoid false positives that frustrate legitimate users. The report’s insights remind us that innovation without security measures is an open invitation for exploitation.

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Source: The Paypers, November 2024


Internet Computer Protocol Supports “Fintech for Humanity” at Singapore Fintech Festival 2024

At this year’s Singapore Fintech Festival, Internet Computer Protocol (ICP) announced its support for the “Fintech for Humanity” initiative, highlighting the role of digital financial solutions in addressing global humanitarian challenges. As part of this event, ICP has focused on creating scalable, decentralized technologies aimed at providing financial services to underserved communities globally.

This initiative aligns with a growing trend in fintech—harnessing technology to promote social impact. ICP’s endorsement of “Fintech for Humanity” underscores a commitment to financial inclusivity, promoting a decentralized financial ecosystem that extends beyond the traditional banking infrastructure. By leveraging blockchain technology, ICP seeks to empower populations without bank access, addressing social issues from poverty alleviation to emergency financial aid.

In an industry often accused of prioritizing profit over people, “Fintech for Humanity” serves as a refreshing counter-narrative. The backing from a player like ICP brings credibility and visibility to humanitarian fintech efforts, paving the way for innovations aimed at social good. This shift is likely to inspire other fintech companies to explore similar initiatives, recognizing the need for ethical considerations in the financial technology space.

Source: PR Newswire, November 2024


Strategic Acquisition: One Equity Partners Sells Dragonfly Financial Technologies to FIS

In a strategic move, One Equity Partners has completed the sale of Dragonfly Financial Technologies to FIS, marking a significant consolidation within the fintech landscape. Dragonfly, known for its payments solutions, has developed an extensive suite of technology that enhances real-time payments capabilities, an increasingly sought-after service in today’s fast-paced financial environment. This acquisition is expected to bolster FIS’s digital payment infrastructure, as they integrate Dragonfly’s offerings into their extensive portfolio.

The transaction points to a broader trend of consolidation in fintech, where established players acquire specialized firms to expand their service offerings and remain competitive. FIS’s acquisition of Dragonfly is particularly timely, as the demand for streamlined payment solutions grows. Real-time payments are becoming more critical, not only for enhancing the user experience but also for responding to regulatory demands for greater transparency and security.

From an op-ed perspective, FIS’s strategic acquisition of Dragonfly is indicative of a maturing industry. Mergers and acquisitions (M&A) activity in fintech is a double-edged sword. While it consolidates resources and expertise, it also reduces market competition, potentially stifling smaller players. As the industry evolves, M&A will likely intensify, challenging regulators to balance fostering innovation with maintaining competitive fairness.

Source: Business Wire, November 2024


AZA Finance Secures PSP License in Nigeria, Marking Milestone for Fintech Expansion in Africa

AZA Finance has announced that its subsidiary has been granted a Payments Service Provider (PSP) license by the Central Bank of Nigeria. This license authorizes AZA Finance to offer digital payment solutions within Nigeria, an emerging market with a rapidly growing demand for financial services. The PSP license enables AZA Finance to expand its presence in Africa’s fintech ecosystem, supporting digital transformation across the continent.

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This development underscores Nigeria’s commitment to digital finance, especially as the country works toward achieving broader financial inclusion. AZA Finance’s PSP license enables the company to leverage its cross-border payments solutions, which are designed to streamline transactions in diverse African markets. This milestone is not only significant for AZA Finance but also for Nigeria, as the license positions the country as a regional fintech hub.

Looking forward, Nigeria’s regulatory environment will play a critical role in shaping fintech’s impact on the economy. The Central Bank’s move to grant PSP licenses is commendable, signaling a welcoming stance for fintechs. However, maintaining robust oversight will be essential to prevent issues related to money laundering and ensure consumer protection as fintech expands.

Source: Business Wire, November 2024


Conclusion

In today’s fast-paced fintech environment, companies are navigating complex regulatory landscapes, tackling evolving fraud threats, expanding social impact initiatives, consolidating through acquisitions, and making strategic moves in emerging markets. This briefing provides an overview of the latest developments, reflecting the diverse and rapidly shifting priorities within the fintech industry. Regulatory clarity, technological vigilance, and ethical considerations are increasingly pivotal as fintech firms redefine the boundaries of finance on a global scale.

 

The post Fintech Pulse: Industry Updates on Regulatory Pressures, Fraud Prevention, Humanitarian Finance, and Strategic Sales appeared first on HIPTHER Alerts.

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Gnosis Gathers Vitalik and Other Industry Heavyweights for Blockchain’s Biggest Debates at Inaugural DevConflict

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  • Featuring seven matchups over two days, DevConflict will facilitate discussions on some of the industry’s biggest questions and divides.

LONDON, Nov. 5, 2024 /PRNewswire/ — Gnosis, the architects of the fully EVM-compatible Layer-1 Gnosis Chain, today announces the launch of DevConflict, a credibly neutral forum ahead of Devcon aimed at finding a resolution to the biggest divides and questions in Web3. Taking place from the 9th to the 10th of November in Bangkok, DevConflict will be hosted at the Siam Society Under Royal Patronage, a short walk from the main Devcon venue, the National Convention Centre.

Martin Köppelmann co-founder of Gnosis said: “Devconflict stands as the premier arena for Ethereum’s most crucial discussions. Whether it’s shaping the future of staking, solving blockspace scalability, or strategizing the onboarding of the next billion users, we offer a neutral platform for the community to address these core challenges directly. We’re proud to host Ethereum’s leading minds as they drive these essential conversations, and look forward to fostering dynamic debates that will help chart our collective path forward.”

Featuring seven matchups, DevConflict brings together industry heavyweights in an environment where speakers and attendees engage in in-depth discussions on critical topics. Bucking a trend of pay-to-present conferences, DevConflict is designed to bring speakers outside of their comfort zone and share real substance.

Each 60 minute debate (listed below) covers a core question in the Ethereumverse and will feature candid Q&As. Additionally, by voting on which contender wins the debate, audience members directly contribute to the shaping of the industry’s future:

  • Gnosis: L1 vs L2Vitalik Buterin (Ethereum Foundation) and Martin Köppelmann (Gnosis) 
    • Layer 1 vs Layer 2: Evaluating Gnosis Chain’s Potential Network Evolution
    • Moderated by Bartek Kiepuszewski (L2BEAT)
  • Vanilla Staking vs Liquid Staking – Nixo (EthStaker) and Dmitry Gusakov (Lido) 
    • Two faces of staking: Vanilla and Liquid Approaches
    • Moderated by Brian Crain (Chorus One)
  • Protocol Ossification vs Agility – Odysseus (Phylax Systems) and Toghrul Maharramov (Scroll) 
    • Immutable Foundations vs. Adaptive Evolution: The Future of Blockchain Protocols
    • Moderated by Sebastian Bürgel (Gnosis)
  • Onboard the Next 1B vs the Next 1MRemco Bloemen (Worldcoin) and Vadim Koleoshkin (Zerion) 
    • Onboarding the next 1 billion, or onboarding the next 1 million? Should Blockchain Compromise Ideals for Mass Adoption?
    • Moderated by Kartik Talwarn (ETH Global)
  • Local Apps vs Cloud ServiceAndreas Tsamados (Fileverse) and Michelle Mosh (Protocol Labs) 
    • Control or Convenience: The Clash Between Local Apps and Cloud Services in the Future of Blockchain
    • Moderated by Lefteris Karapetsas (Rotki)
  • Larger Blockspace vs Low-Spec Device CompatibilityNick Dodson (Fuel Labs) and Toni Wahrstätter (Ethereum Foundation) 
    • Ethereum’s Crossroads: Maximize Capacity or Prioritize Participation?
    • Moderated by Pol Lanski (DappNode)
  • Should MEV be Tackled at the Application Layer or Protocol Level?Felix Leupold (CoW Swap) and Tomasz Stanczak (Nethermind) 
    • MEV Mitigation: Protocol-Level Solutions vs. Application-Layer Approaches
    • Moderated by GregTheGreek.eth (Chainsafe)

Beyond voting on the outcome of key debates, Devconflict launches together with a predictions market focused key questions to be discussed at the event. Hosted on Presagio, attendees can take stake on questions including “Will more than 50% of Ethereum transactions be processed on Layer 2 solutions by the end of 2026?” and “Will a major blockchain protocol (Bitcoin, Ethereum, or others in the top 5 by market cap per DefiLlama) announce a permanent freeze on feature upgrades by 2026?”

DevConflict comes on the back of the successful run of Gnosis’ annual flagship event, DappCon in May 2024 which gathered over 900 builders to discuss the latest trends in the Ethereum ecosystem.

General tickets for DevConflict are available and can be purchased here.

About Gnosis

Gnosis is building open applications and infrastructure for the new economy. The Gnosis ecosystem is underpinned by Gnosis Chain, a secure, resilient, and decentralized blockchain that extends Ethereum with lower transaction costs. Gnosis Studios is a product incubator focused on payments, identity, and internet freedom, while GnosisVC is an early-stage investor in projects focused on decentralized infrastructure, real-world assets, and financial rails.

Website | X (Twitter) | Discord | Blog

View original content:https://www.prnewswire.co.uk/news-releases/gnosis-gathers-vitalik-and-other-industry-heavyweights-for-blockchains-biggest-debates-at-inaugural-devconflict-302296827.html

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