The new private equity fund will invest in internet and other technology investments including artificial intelligence and internet finance; China Life will contribute up to 5.6 billion yuan ($840 million) and Baidu will contribute up to 1.4 billion yuan ($210 million); investments will focus on middle to late stage financing and according to Reuters will have a "significant association" with China. Source
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Sallie Krawcheck previously worked as a Wall Street executive but has since founded Ellevest; the company offers a digital investing platform helping female investors access low-cost ETFs based on goals; Venus Williams, a professional tennis player, is among investors in the company; according to Krawcheck, women are less concerned with beating the market and focus rather on ensuring their money won't disappear completely; the platform also considers the longer lifespans of women and the possibility of extended time off from work; Business Insider provides screenshots of setting up an account; the app is not yet in the app store. Source
Financial Planning explores the possibility of an IPO from the leaders in the robo-advice market including Betterment, Wealthfront and Personal Capital; the companies continue to raise money but some question the viability of the market; Betterment has over $10 billion in assets under management, Wealthfront has $7.4 billion and Personal Capital has $4.9 billion; the companies have a combined 420,000 clients and 548,000 accounts; article shares statements by each company regarding IPOs and the differences between the platforms. Source
As a thirty year veteran of consumer lending, loanDepot CEO Anthony Hsieh has seen his share of transformative changes; his keynote at LendIt USA 2017 focused on the modern version of consumer lending and how online lenders are only just scratching the surface; while originations have grown each year loanDepot still only accounts for about two percent market share as the second largest non bank consumer lender; he believes online lending is still in the bottom of the first or top of the second inning; non bank mortgage lenders now account for five of the top ten originators, a few years ago only two non bank lenders cracked the top ten; regulations, capital markets and technology have all contributed to the market changing since the crisis of 2008; he also talks about the future of the customer experience and their continued investment in technology. Source