Topic:

One Two Wall Street's Coming For You

One Two Wall Street's Coming For You

Applications Now Open for FinTech Innovation Lab, the Incubator for Wall Street Startups

(fintechinnovationlab.com)

Betabeat learned something this morning! Did you know that while the market for financial services startups may be in New York, and even though it feels like we’re swimming in bankers-turned-founders, most fintech startups have historically been on the West Coast or in Boston?

“The financial services market is here,” said Maria Gotsch, president and CEO of the NYC Investment Fund, the private $100 million fund that, alongside Accenture, is sponsoring the financial technology incubator FinTech Innovation Lab. “The size of the tech sector that works with them is disproportionately small. So on a macro level we’re trying to build up the tech sector, on a micro level the program is actually about picking out of the best of breed of six fintech companies and helping accelerate their development.” Read More

One Two Wall Street's Coming For You

Why Is NASDAQ Sponsoring Aviary’s Photo Hack Day?

nasdaq

Aviary, the start-up behind a suite of online editing tools, is never one to shy away from an open API contest or public encouragement to build killer apps, so it’s no surprise they’re coordinating an upcoming Photo Hack Day at General Assembly. What is surprising is that NASDAQ just signed on as a sponsor. “It isn’t often you hear about stock exchanges getting involved with startups, unless it’s to help them IPO,” notes TechCrunch’s Jason Kincaid, who seems to be acclimating to the city’s tall buildings. But we think that might be exactly what they’re after. Read More

One Two Wall Street's Coming For You

Are Hedge Funds the ‘Antichrist’ of Start-Up Investing?

antichrist

While investment banks jockey to become the lead underwriter for the next hot new tech IPO and broker-dealers dip into the secondary market for Facebook stock, another Wall Street contingent has been barreling its way into the tech sector.

According to the Wall Street Journal, hedge funds with a hunger for tech stocks and seeking higher returns are increasingly investing in private start-ups. If you ask some venture capitalists, this is A NO GOOD VERY BAD THING.

Jeff Clavier, founder of SoftTech VC, a small, but influential Palo Alto firm told the Journal:

“Hedgies investing in start-ups directly is scary. They are the antichrist of patient, supportive early-stage investing.” Read More