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Quebec’s Caisse Supports Natural Resource SMEs

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miningOn June 20, 2013, the Caisse de dépôt et placement du Québec (Caisse) announced the creation of Sodémex Développement. The $250 million Sodémex Développement Fund will allocate investments in the range of $5 to $20 million to developmental Québec companies in the natural resources sector. With the creation of the Sodémex Développement Fund, the Caisse will be active in all stages of natural resource extraction in exploration, development and production. Public investors in Québec have a long history of supporting mining companies in the province. In 1996, the Caisse began actively investing in Québec exploration companies through Sodémex Fund vehicles – also called Société de développement des entreprises minières et d’exploration. Investments in these junior exploration companies were small minority stakes.

The concept of a strategic development fund is not new to the Caisse.

The Sodémex Développement Fund will invest in a variety of structures including debenture, convertible debenture and equity. At times faced with insufficient capital, many Canadian developmental companies in the energy sector that show promise are quickly gobbled up by large corporations or foreign institutional investors.

“The current business climate in the natural resources sector can present attractive long-term investment opportunities,” said Normand Provost, Executive Vice-President, Equity at the Caisse in a press release. “This represents a critical entry point for the Caisse in projects that are in the development stage.”

Does the Hong Kong Dollar Have a Future?

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Despite the Hong Kong dollar straddling within the upper echelons of being a highly-traded currency, its existence could be in doubt in the future. The Hong Kong dollar is the official currency of Hong Kong and the governmental currency board is the Hong Kong Monetary Authority (HKMA). The HKMA is tasked to oversee the stability of the local currency with its massive pool of government reserves. Before the Hong Kong colonial government named the silver dollar as legal tender in 1863, the global trading post utilized the British sterling, Indian rupees, Spanish silver coins, and Chinese cash coins. There were decades of set exchange rates with the British pound. Fast forward years, eventually in 1983, the Hong Kong dollar was pegged to the U.S. dollar. In 1997, Hong Kong moved from English rule to Chinese control.

Could the Hong Kong Dollar End?

The Hong Kong dollar will soon go into the dustbin of history, according to local and international experts. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mubadala Invests in Series B in Primer

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San Francisco-based Primer raised US$ 40 million in a Series B round that was led by Lux Capital. Other investors in the round include Mubadala Investment Company and Section 32. Return backers include Amplify Ventures, DCVC (Data Collective, and In-Q-Tel, an investment form supported by the Central Intelligence Agency (CIA). Primer is an artificial intelligence platform that analyzes large datasets, competing with firms like Peter Thiel’s Palantir Technologies Inc. Primer raised US4 14.7 million in its Series A round from In-Q-Tel, Lux Capital, Amplify Partners, and Data Collective.

Primer was founded by New Zealander Sean Gourley, the co-founder & CTO of Quid, an augmented-intelligence company.

Palantir

This is in the midst of the financial backers of Palantir who are trying to value their stake in the company. Morgan Stanley’s mutual funds owns shares in Palantir and have lowered their valuation in the company. Morgan Stanley believes Palantir is worth around US$ 4.4 billion as of September 30, 2018. Palantir attempted to buyback all of the stock held by Morgan Stanley’s mutual funds, which amounts to just around US$ 3 million as of the middle of 2018.

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HSBC and CIC Hold Talks on Bilateral Investment Fund

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Taking a page from the Goldman Sachs cooperative fund deal, banking giant HSBC and the China Investment Corporation (CIC) are in talks to form a £1 billion fund to invest in U.K. companies that have linkages to the Chinese economy. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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