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Venture Capital Fund Manager Token Bay Capital Granted In-Principle Approval To Invest In Tokens With First of Its Kind License in Abu Dhabi Global Market (ADGM)
- License will permit investment in both the equity and tokens of crypto start-ups
- Opening of Token Bay’s new offices in ADGM aligns with planned second fund
ABU DHABI, UAE, April 18, 2024 /PRNewswire/ — Token Bay Capital Limited (“Token Bay”) is expanding its venture capital footprint in the capital of the UAE and has been granted an in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) to carry out regulated activities in the ADGM. Subject to final regulatory approval for the grant of the Financial Services Permission (FSP), Token Bay brings niche capabilities to manage both token and equity investments in early-stage crypto start-ups under the FSRA’s Venture Capital Fund Manager (VCFM) framework.
Founded in 2021, Token Bay is a leading Crypto Venture Capital Fund that has adopted a regulatory-first approach from day one. Token Bay invests in start-ups building next-generation blockchain infrastructure and decentralized applications for Web3. Building on the success of its first fund, Token Bay is now launching its second fund and will continue to back outstanding entrepreneurs building infrastructure solutions for the new token economy. In addition to Abu Dhabi, Token Bay also has offices in Hong Kong, and is strategically positioned across digital assets hubs in both the Middle East and Asia.
Founder and Managing Partner of Token Bay, Lucy Gazmararian: “This marks the first phase of global expansion for Token Bay, and we’re excited to have been granted the IPA in ADGM for venture capital investment in tokens as well as in equity. Blockchain technology has the potential to drive innovation through tokenization, and as blockchain networks continue to evolve, it is important that as venture capitalists we are fully equipped to support talented founders building in Web3 by directly participating in these networks and taking an ownership stake through tokens. We extend our sincerest thanks to the regulator for their forward-thinking approach and open dialogue so that we were able to reach this important milestone and establish Token Bay in one of the world’s leading international financial centres and digital assets hub.”
ADGM’s progressive regulatory framework, English common law legal framework, status as a leading centre for financial innovation and vibrant blockchain and digital assets ecosystem have attracted Token Bay to set up offices in the capital of the UAE.
Arvind Ramamurthy, Chief of Market Development at ADGM said, “We extend a warm welcome to Token Bay Capital as they join ADGM’s international financial centre and commence their establishment in Abu Dhabi, marking the beginning of their global expansion journey. ADGM is dedicated to cultivating innovation and excellence in the financial sector, particularly within the virtual asset space. With progressive regulatory frameworks that facilitate companies like Token Bay Capital, ADGM’s vibrant ecosystem stands as the optimal platform for initiating their global growth trajectory.”
Token Bay’s Venture Funds offer institutions, multi-national companies, private banks, family offices and high-net-worth individuals the opportunity to invest in an emerging asset class right at the start of a multi-decade cycle.
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Capify, a UK-based online lender catering to small and medium-sized enterprises (SMEs), has secured a £100 million credit facility to support its lending activities.
Capify, an online lender specializing in SMEs, has recently announced securing a substantial £100 million credit facility with Pollen Street Capital, a UK-based alternative asset manager.
John Rozenbroek, serving as Capify’s CFO and COO, expressed enthusiasm for the new multi-year facility. He highlighted its role in expanding the lending capacity for SMEs ready to receive funding, while also enabling Capify to pursue its growth objectives. Rozenbroek emphasized the company’s commitment to enhancing platforms and customer experiences, aiming to streamline processes and accelerate decision-making for brokers and SMEs.
This achievement follows Capify’s previous success in securing a £75 million credit facility with Goldman Sachs in 2019.
Established in the US in 2002, Capify has since expanded its operations to Australia and the UK in 2008. The company offers a range of financial products, including merchant cash advance (MCA) and business loans, allowing merchants to repay their loans through manageable instalments.
David Goldin, the Founder and CEO of Capify, described the new credit facility as another significant milestone for the company. He emphasized that it underscores the strength of Capify’s business model and its commitment to providing swift, adaptable, and responsible support to SMEs in both the UK and Australia.
Source: fintechfutures.com
The post Capify, a UK-based online lender catering to small and medium-sized enterprises (SMEs), has secured a £100 million credit facility to support its lending activities. appeared first on HIPTHER Alerts.
Latest News
APPRO Extends Partnership With Silent Eight To Enhance Their Already World-Class Compliance Offerings
SINGAPORE, May 1, 2024 /PRNewswire/ — APPRO, a digital powerhouse that simplifies the onboarding journey in retail banking, proudly announces the successful expansion of its strategic partnership with Silent Eight, marking a continuation of their shared commitment to accuracy, efficiency and real-time decision-making capabilities in their Name Screening programs.
Silent Eight enables the fight against financial crime with AI-powered detection and alert closure solutions across Name Screening, Transaction Screening and Transaction Monitoring.
Embracing the early integration of AI-driven automation into their financial crime programs, APPRO strategically fosters sustained agility and growth across the UAE.
“APPRO is thrilled to expand our partnership with Silent Eight. The early adoption of AI-driven automation is a testament to our dedication to robust yet agile management of our financial crime programs in the UAE’s fintech landscape. Preventing financial crime is of utmost importance to us and this strategic move positions us to deliver even more value to our clients.” Iftekhar Salim, CEO, APPRO.
“Silent Eight is proud of our continued collaboration with APPRO and are honored to be a part of their mission. We look forward to continuing to enable them for many years to come.” Matthew Leaney, CRO, Silent Eight
About APPRO
APPRO is a digital powerhouse that enables customers to cut through layers of daunting processes by offering an easy, paperless and hassle-free way of solving financial problems and getting access to the funds needed.
Partnered with leading banks such as Standard Chartered, HSBC and Arab Bank, APPRO offer an easy and quick credit application process that makes the on-boarding journey a breeze.
About Silent Eight
Silent Eight is a technology company that partners with financial institutions to create solutions blending the best of humans and the best of technology. Leveraging artificial intelligence Silent Eight’s Automated Alert Closure replicates human reasoning and decision making based on historical data and continuous learning. Silent Eight enables financial institutions to reduce false positives, increase accuracy, and enhance auditability of their compliance operations.
Silent Eight works with some of the largest banks and insurance companies in the world, including Standard Chartered, HSBC, First Abu Dhabi Bank and Emirates NBD. Silent Eight is headquartered in Singapore and has offices in New York, London, Warsaw, and Bangalore.
Photo – https://mma.prnewswire.com/media/2401721/Silent_Eight_APPRO.jpg
View original content:https://www.prnewswire.co.uk/news-releases/appro-extends-partnership-with-silent-eight-to-enhance-their-already-world-class-compliance-offerings-302132105.html
QUEBEC, April 30, 2024 /PRNewswire/ — LeddarTech Holdings Inc. (“LeddarTech” or the “Corporation”) (Nasdaq: LDTC), an automotive software company that provides patented disruptive AI-based low-level sensor fusion and perception software technology, LeddarVision™, for ADAS, AD and parking applications, announces the voting results of its annual general and special meeting of shareholders held on April 30, 2024. Shareholders voted on various proposals and elected directors to the board.
Key Highlights of the Meeting
1. Election of Directors: The full slate of eight directors was elected to serve until the next annual meeting of shareholders or until a successor is elected or appointed.
|
Nominee |
Votes For |
% of Voted |
Votes Against |
% of Voted |
|
FrantzSaintellemy |
23,750,091 |
99.92 % |
18,864 |
0.08 % |
|
Charles Boulanger |
23,684,010 |
99.64 % |
84,945 |
0.36 % |
|
Derek Aberle |
23,751,414 |
99.93 % |
17,541 |
0.07 % |
|
Nick Stone |
23,749,634 |
99.92 % |
19,321 |
0.08 % |
|
Michelle M. Sterling |
22,661,485 |
95.34 % |
1,107,470 |
4.66 % |
|
YannDelabrière |
23,750,042 |
99.92 % |
18,913 |
0.08 % |
|
SylvieVeilleux |
23,745,998 |
99.90 % |
22,957 |
0.10 % |
|
LizabethArdisana |
23,744,718 |
99.90 % |
24,237 |
0.10 % |
2. Approval of Auditor: The appointment of Richter LLP as auditors of the Corporation was approved, and the board of directors of the Corporation was authorized to fix the auditors’ remuneration.
|
Votes For |
% of Voted |
Votes Withheld |
% of Voted |
|
24,399,690 |
99.77 % |
56,493 |
0.23 % |
3. Other
3.1 The issuance of warrants to purchase up to 449,013 common shares of the Corporation to certain former and continuing directors of LeddarTech Inc. (as a predecessor to the Corporation) was approved and ratified.
|
Votes For |
% of Voted |
Votes Against |
% of Voted |
|
18,146,903 |
76.35 % |
5,622,052 |
23.65 % |
3.2 An amendment to By-law No. 1 so as to provide the chair with a second or “casting vote” at meetings of the Corporation’s board of directors was approved and ratified.
|
Votes For |
% of Voted |
Votes Against |
% of Voted |
|
21,472,893 |
90.34 % |
2,296,062 |
9.66 % |
For further details on each of these matters, please refer to the Corporation’s management information circular dated March 18, 2024, available on SEDAR+ at www.sedarplus.ca/ and EDGAR at www.sec.gov/. Final voting results on all matters voted on at the meeting will be posted on the Investor Relations section of LeddarTech.com and filed on SEDAR+ at www.sedarplus.ca/ and EDGAR at www.sec.gov/.
About LeddarTech
A global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal and Tel Aviv, Israel, LeddarTech develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions that enable the deployment of ADAS, autonomous driving (AD) and parking applications. LeddarTech’s automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment to achieve better decision making and safer navigation. This high-performance, scalable, cost-effective technology is available to OEMs and Tier 1-2 suppliers to efficiently implement automotive and off-road vehicle ADAS solutions.
LeddarTech is responsible for several remote-sensing innovations, with 160 patent applications (87 granted) that enhance ADAS, AD and parking capabilities. Better awareness around the vehicle is critical in making global mobility safer, more efficient, sustainable and affordable: this is what drives LeddarTech to seek to become the most widely adopted sensor fusion and perception software solution.
Additional information about LeddarTech is accessible at www.LeddarTech.com and on LinkedIn, Twitter (X), Facebook and YouTube.
Contact:
Daniel Aitken, Vice-President, Global Marketing, Communications and Investor Relations, LeddarTech Holdings Inc. Tel.: + 1-418-653-9000 ext. 232 [email protected]
- Investor relations website: investors.LeddarTech.com
- Investor relations contact: Kevin Hunt, ICR Inc. [email protected]
- Financial media contact: Dan Brennan, ICR Inc. [email protected]
Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive, VayaVision and related logos are trademarks or registered trademarks of LeddarTech Holdings Inc. and its subsidiaries. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.
LeddarTech Holdings Inc. is a public company listed on the Nasdaq under the ticker symbol “LDTC.”
View original content:https://www.prnewswire.co.uk/news-releases/leddartech-reports-annual-shareholder-meeting-results-302132328.html
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