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iAngels Deal Digest – September Monthly Wrap Up

Greetings from Tel Aviv and welcome to another monthly wrap up! It’s been now a full quarter since starting the iAngels deal digest, and over time I’ve learned that a mid-month and end-of-month digest is more meaningful, manageable, and informative than a weekly update. So from now on you can expect an update twice a month. […]

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Greetings from Tel Aviv and welcome to another monthly wrap up! It’s been now a full quarter since starting the iAngels deal digest, and over time I’ve learned that a mid-month and end-of-month digest is more meaningful, manageable, and informative than a weekly update. So from now on you can expect an update twice a month.

On the heels of August’s $415m of new capital, September brought $377m of investment, with Security and Safety Technologies (36%), Social Media and Advertising (18%), and Enterprise Solutions (17%) leading the way, alongside $95m in disclosed M&A (total M&A was higher). 

 september-2016

September witnessed light acquisition activity, with one company acquired for a disclosed $95m and four companies acquired for undisclosed amounts.

  • Crossense a company helping advertisers and market researchers better understand their audiences, was acquired by Toluna, a survey software firm, for an undisclosed sum.
  • Wiser, a pricing strategy and analytics application, was acquired by Quad Analytix, a leading player in competitive intelligence solutions, for an undisclosed sum.
  • Imagu Vision Technologiesa provider of software that recognizes objects in digital images and video, was acquired by iCarbonX, a Chinese unicorn focused on big data medical analytics, for an undisclosed sum.
  • Blazemeter, a software platform simplifying continuous testing, was acquired by CA Technologies,  one of the largest independent software companies in the world, for $95m.
  • WatchMe88, a social discovery application for the Apple Watch and iPhone, was acquired by ChampagneSG, a Singaporean dating agency, for an undisclosed sum.

The past two weeks, another $60m was invested in Israeli start-ups.

Seed Rounds

  • OMGWhen, a mobile discovery platform for activities, raised $2m from a syndicate of private investors.
  • Curve, a payment method provider that aggregates numerous payment methods into a single plastic card, raised $2.6m from Connect Ventures, Samos Investments, and private investors.
  • Quicargo, a mobile and web platform that connects carriers to shippers to maximize use of extra loading space, raised $500,000 from Bootcamp Ventures, Ignite Accelerator, and Money Train IL.
  • uChange, an application that enables travelers to find each other and exchange money at low rates, raised $500,000 from private investors.
  • Pixoneye, an adtech company profiling consumers based on their photo and video libraries , raised $3.1m from Telefonica Ventures, Seedrs, and HBS Angels of London.
  • Karamba Security, a software company focused on securing automtive controllers and IoT devices, raised $2.5m from Fontinalis Partners, GlenRock, and YL Ventures.
  • NewSight Imaging, a company developing a camera chip for medical devices, raised $500,000 from EnnoVenture and private investors.

Series A Rounds

  • Codefresh, an end-to-end contain lifecycle management platform, raised $7m from Carmel, Hillsven, and Streamlined Ventures.
  • Folloze, a prospect engagement platform for marketers, raised $7.3m from NEA, Cervin Ventures, and private investors.
  • SecBI, an advanced threat detection system for enterprises, raised $5m from Amichai Shulman, JVP, and Connecticut Innovations.
  • Aqua Security, a provider of container security solutions to the enterprise, raised $9m from Microsoft Ventures, Shlomo Kramer, and other private investors.
  • Reporty, a video application that enables citizens to report crime to the authorities, raised $5.15m from Ehud Barak, Pinchas Buchris, and private investors

Series B Rounds

  • Anodot, an advanced anomaly detection and prediction platform, raised $8m from Aleph, Disruptive Fund, and Greylock Israel.
  • Mobilize, a platform helping organizations manage social causes, raised $6.5m from Hillsven, Trinity Ventures, Upwest Labs, and private investors.

On behalf of everyone at iAngels, I’d like to thank you for tuning into our deal digest.  

If you’d like to receive our bimonthly digest in your inbox, please subscribe below. P.S. Don’t forget to check out our latest podcast featuring Richard Swart, Prosper’s Ron Suber, and iAngels’ Shelly Hod Moyal.

Love,
Max

Max Marine
Max Marine is an iAngels Investment Analyst. Prior to iAngels, Max was a Junior Partner at Venture1st, providing marketing and communications support to Israeli start-ups. Max passed the three CFA exams consecutively, holds an MS in Investment Management, and a B.B.A. in Finance, Real Estate, and Risk Management and Insurance from Temple University’s Fox School of Business. Contact him at [email protected]

[/av_textblock] Source: https://www.iangels.com/2016/10/iangels-september-deal-digest-september-monthly-wrap-up/

Private Equity

iAngels Israeli Deal Digest – September 2020

Welcome to the iAngels Monthly Deal Digest, a summary of corporate developments in the Israeli startup market.  This September we tracked 50 announced deals at approximately $1.8 Billion, and 6 exits of $1.3 billion. Including iAngels portfolio company, BioCatch, which raised $20m in a C round.   Insurtech and Cybersecurity were the two top performing sectors […]

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Welcome to the iAngels Monthly Deal Digest, a summary of corporate developments in the Israeli startup market. 

This September we tracked 50 announced deals at approximately $1.8 Billion, and 6 exits of $1.3 billion. Including iAngels portfolio company, BioCatch, which raised $20m in a C round.

Insurtech and Cybersecurity were the two top performing sectors this month. Next Insurance, a InsurTech company raised $250 million Series D financing round led by CapitalG, Alphabet’s independent growth fund, with participation from FinTLV, and existing investor Munich RE Group. Snyk, a cybersecurity startup closed a $200 million Series E financing round, led by venture capital firm Addition, according to a company valuation of more than $2.6 billion.


On the M&A side, we tracked three acquisitions. The largest being Preempt Security, an American-Israeli cybersecurity startup whose solution offers zero trust and conditional access for continuously detecting and preempting threats based on identity, behavior and risk, was acquired by a California-based cloud-delivered endpoint and cloud workload protection company CrowdStrike Holdings, Inc. in a $96 million deal.  

Seed Round

  • Anima App, a startup which allows designers to export code to the programming team, without needing to learn how to code or switching between different unfamiliar programming languages. completed a $2.5 million Seed funding round, led by Zohar Gilon, one of Israel’s leading and most important investors, along with Hetz Ventures. 
  • Bobile, the first company to offer real time advanced endpoint security for iOS from zero-day and targeted advanced persistent threats, closed a $1.5 million seed round led by the New York Angels and participation by Harvard Business School (HBS) alumni angels and other leading investors.
  • KRE8.TV, a celebrity content platform which allows users to order custom made video content from their favorite creators raised approximately $1.17 million of seed investment led by Benson Oak Ventures (BOV). The round also included additional investors, among them Eyal Waldman, CEO of Israeli chipmaker Mellanox.
  • Plantt, a solution which connects to your sales and support tools, analyzing your conversations with customers to create a tailor-made customer experience raised  $1 million from Fusion LA and GoAhead Ventures.
  • Inthegame, a start-up which develops an AI-powered platform can help create unique and interactive experiences by adding ‘layers’ to broadcast television to include things like polls and quizzes in sports events and game shows, raised $650 thousands in a Seed funding round.

A Round

  • AnyVision, a company which develops an AI-driven face recognition has raised $43 million from existing investors including investment funds and private investors.
  • Triple Jump Medical, a small insulin pump patch startup raised $20 million from Medtronic.
  • Varada, an Israeli Big Data startup has closed a $12 million series A funding round. The round was led by MizMaa Ventures, with participation by Gefen Capital. Existing investors Lightspeed, StageOne Ventures and F2 Venture Capital, which contributed in early 2019 to a $7.5 million seed round, also participated in the round.
  • EasySend, a company which develops a no-code drag and drop platform for managing customer experience by converting manual forms and data collection processes into digital mobile or web applications raised $11 million in a series A round led by Israeli venture capital firm Hanaco Ventures. Intel’s venture arm, Intel Capital, also participated in the round. 
  • Strigo, customer training cloud platform startup announced the close of an $8 million series A financing round. The new investment was led by Velvet Sea Ventures and existing investor Greycroft with participation from Hanaco, the company’s lead seed investor. 
  • DeepCube, a deep learning software accelerator, closed $7 million in Series A funding. The round, led by Canadian VC Awz Ventures with participation from Koch Disruptive Technologies (KDT) and Nima Capital, brings the total invested in DeepCube to $12 million. 
  • Metadata, a San Francisco-based autonomous demand generation company focused on B2B marketing, said it raised $6.5 million in its Series A round. Resolute led the series with participation from GreycroftYork IE and Stormbreaker, as well as Mark OrganIlya Volodarsky and more than a dozen Metadata customers and key employees.
  • Sternum, Israeli IoT cybersecurity company Sternum Ltd. has raised $6.5 million in series A funding. The company provides embedded protection and real-time visibility for connected devices. The round, led by Square Peg, was joined by existing investor and global business leader Merle Hinrich, European venture capital firm btov, and private investors including Boston-based veteran entrepreneur Eyal Shavit and Founder & CEO of CyberArk, Udi Mokady.
  • TetaVi, AI-based video capture technology company has announced the close of its $6 million series A round. The funding, which came from new and existing investors, brings its total capital raised to $11.3 million. It was led by American and Canadian venture capital fund REDDS Capital and included a strategic investment from ADWAYS.
  • Phytolon, natural food coloring developer completed a $4.1 million financing round led by Millennium Food-Tech with the participation of Consensus Business Group (CBG) Fund, Trendlines Group, EIT-Food (the EU body responsible for food-tech initiatives), and former Elbit Systems CEO Yossi Ackerman.

 

  • LIGC, an Israel-based producer of Laser-Induced Graphene filters, raised $3 million in round A led by Hubei Forbon Technology. LIGC Application is at the forefront of laser-induced graphene commercialization with patented technology.

B Round

  • NovellusDx, biotech company NovellusDX Ltd. which develops a drug that delays the development of a BRAF gene mutation created in cases of thyroid cancer and glioma cancer, raised $57 million in a round made at a valuation of $75 million in exchange for 73% of the company’s shares. The round was led by Israeli life science venture capital firm Pontifax Ltd. and healthcare investment firm Orbimed Israel Partners Ltd., with each investing around $10.5 million for a 14% stake. The third-largest investor in the round was Swiss firm HBM Healthcare Investments AG, which invested $10 million for around 10% of the company’s stock. Additional investors in the round include Swiss multinational pharmaceutical company Novartis International AG, Boston-headquartered investment firms Wellington Management and Cormorant Asset Management, and SR One Ltd., the healthcare venture capital arm of pharmaceutical company GlaxoSmithKline PLC (GSK). Each of them will receive a 6%-7% stake in the company.
  • EverC, Israeli cybersecurity startup, focusing on the prevention of online money laundering, completed a $35 million series B investment round. The round was led by Israeli venture capital fund Red Dot Capital Partners which invests in growth stage companies. Maor Partners also participated in the round together with the company’s current investors, including Joey Low, Viola Ventures, Arbor Ventures and American Express Ventures.
  • Axis Security, a cybersecurity startup completed a $32 million series B funding round led by Canaan Partners, with participation from existing investors Ten Eleven Ventures and Gili Raanan’s Cyberstarts. The capital was raised to meet the increasing demand for the company’s products in the wake of the widespread transition to work from home. Axis Security’s Application Access Cloud is a purpose-built cloud-based solution that simplifies application access, using a Zero Trust platform.
  • Deel, a company, which developed a payroll platform to pay both full-time staff and independent contractors who are working remotely, has completed a $30 million Series B financing round. The round was led by US venture capital fund Spark Capital with the participation of the company’s previous backers. Another dominant investor in Deel is U.S. venture capital fund Andreessen Horowitz, which is one of the world’s largest funds.
  • Medigate, a medical cybersecurity startup raised a $30 million series B round led by new investor Partech Partners. Previous backers YL Ventures, U.S. Venture Partners, and Blumberg Capital, as well as first time investor Maor Investments, also participated in the round. The new round brings Medigate’s total funding to around $50 million.
  • Pcysys, a cybersecurity company which developed an automated penetration-testing platform that assesses and reduces corporate cybersecurity risks, completed a $25 million series B financing round led by Insight Partners. Other participants include Canadian venture capital fund AWZ Ventures and U.S.-based The Blackstone Group. The company has so far raised a total of $40 million.
  • Coralogix, a company which provides a log analytics platform, completed a $25 million Series B financing round co-led by Red Dot Capital Partners and Eyal Ofer’s O.G with participation from existing backers Aleph VC, StageOne Ventures, Janvest Capital Partners, and 2B Angels.
  • Aurora Labs, a company which develops debugging tools for automotive software, completed a $23 million series B financing round. The round was led by Check Point co-founder Marius Nacht and LG Technology Ventures, LG Electronics’ investment arm. Porsche Automobil Holding SE, Toyota Tsusho, UL Ventures, the investment arm of global safety standards Company UL, and previous round backers participated in the oversubscribed round.
  • Aidoc, a medtech startup Aidoc Medical Ltd. raised an additional sum of $20 million for its series B round, which now stands at $47 million. This brings the company’s total funding to date to $60 million. The round was originally announced last year and was led by Melbourne, Australia-based Square Peg Capital, with participation from Magma Ventures, TLV Partners, and Emerge. Joining the round now are Alpha Intelligence Capital and Maor Investments. Aidoc develops artificial intelligence-based medical imaging software designed to quickly analyze medical scans and help doctors prioritize the most urgent cases and expedite treatment.
  • BrandTotal, the brand marketing analytics company providing social media competitive intelligence to brands and organizations, raised $12 million in its Series B investment round. The Series B round was led by INcapital Ventures, in participation with Maor Investments, Glilot Capital Partners, Flint Capital, KDC Media Fund, and FJ Labs.
  • Blue White Robotics (BWR), an autonomous vehicle platform startup Blue White Robotics (BWR) announced a $10 million funding round. The round was led by Jesselson Investment, alongside Peregrine VC, Entrée Capital and an investment group led by Datoroama founder Ran Sarig.
  • Envizion Medical, a startupwhich develops smart feeding tubes (Nasogastric tubes) for intubated patients, announced the completion of an $8 million funding round from private medtech backers, family offices and the Technion Venture Capital fund.
  • Salaryo, a Fintech company, which provides credit and digital banking services to small businesses in the U.S. has raised $5.8 million in credit and equity. The company declined to detail how much debt it had incurred, but it is estimated to be the main element of the deal. The equity component was led by UAE-based private equity and venture capital fund KEN Investments, which has invested hundreds of thousands of dollars in the deal. This is estimated to be the first time an Emirati fund has openly invested in an Israeli company and follows the announcement last month that the two countries had agreed to normalize diplomatic relations. Other investors included British venture capitalist Michael Ullman, Variant Investments, and Techstars Ventures in whose accelerator Salaryo had participated.

C Rounds

  • Melio, Israeli B2B payments startu, allowing small businesses to manage payments remotely, paying when and how they want, giving them more control and helping businesses manage cash flow raised $80 million in a Series C round from investors including Accel, Aleph, Bessemer Venture Partners, Coatue Management and General Catalyst.
  • Papaya, a global payroll and payment startup closed a $40 million series B funding round led by Scale Venture Partners, with participation from Workday Ventures, Access Industries (via its Israeli vehicle Claltech), and existing investors Insight Venture Partners, Bessemer Ventures Partners, New Era Ventures, Group 11, and Dynamic Loop.
  • Orasis, an ophthalmic pharmaceutical company which is developing eye drops to treat presbyopia – the loss of ability to focus near objects, closed a $30 million Series C financing round co-led by new investor Bluestem Capital and returning investor Visionary Ventures, with participation from previous investors Sequoia Capital, SBI (Japan) Innovation Fund, Maverick Ventures Israel, LifeSci Venture Partners and additional investors. 
  • V-Wave, a company is developing proprietary, minimally invasive interatrial shunt devices for treating patients with severe symptomatic heart failure and pulmonary arterial hypertension raised $28 million, bringing the total raised in its Series C financing round to $98 million. The financing was led by Deerfield Management with participation from Aperture Venture Partners, BRM Group, Endeavour Vision, Johnson & Johnson Innovation – JJDC Inc., Pontifax, Pura Vida Investments, GHS Fund (Quark Venture LP), as well as Triventures and Israel Secondary Fund.
  • PhyTech, a digital farming automation company and data provider raised $23.5 million from private equity firm Thomas H. Lee Partners, L.P. (THL) including from the THL Automation Fund L.P., and existing anchor investors.
  • Biocatch, a startup which is active in the behavioral biometrics field: the research of digital behavior by users from a physical and cognitive standpoint in order to protect them and their data from fraud in the digital space announced extended its series C financing round by an additional $20 million invested by four major global banks – Barclays, Citi, HSBC and National Australia Bank (NAB) – to increase the round to a total of $168 million.
  • Medasense, a company which develops technology for pain-response monitoring completed an $18 million series C financing round led by Sabadell Asabys venture capital firm (Asabys Partners, Spain), Israeli family offices, and former backers Baxter Ventures, Olive Tree Ventures, and LGL Capital.
  • KeepMed, a medical technology company secured 13 million Euros ($15.1 million) in series C funding for its positive airway pressure (PAP) device that helps people with Obstructive Sleep Apnea, KeePAP. New investors Celeste Management, Financière Arbevel, and 4See Ventures join existing investors Merieux Equity Partners, Pitango Venture Capital, Xenia Venture Capital, C4 Ventures, and Lavorel Medicare.
  • Capitolis, a fintech company raised $11 million from financial giants Citi, J.P. Morgan, and State Street. The company’s platform helps financial institutions free up capital and remove barriers that would otherwise restrict trading. Capitolis enables firms to optimize their balance sheet exposures through collaborative technology by eliminating unnecessary positions and finding the most suitable party to hold the remaining positions.

Growth/Misc. Rounds

  • SolarEdge (NASDAQ GS: SEDG) announced the pricing of $550 million aggregate principal amount of 0.00% Convertible Senior Notes due 2025 in a private offering.
  • Next Insurance, a InsurTech company raised $250 million Series D financing round led by CapitalG, Alphabet’s independent growth fund, with participation from FinTLV, and existing investor Munich RE Group.
  • Snyk, a cybersecurity startup closed a $200 million Series E financing round, led by venture capital firm Addition, according to a company valuation of more than $2.6 billion.
  • BioProtect, a private company with a bioabsorbable polymer spacer balloon platform announced the final closing of its $25 million series D equity financing from an unnamed strategic investor and Peregrine Ventures. Peregrine and the additional international investor each invested $4.5 million.
  • Ionir, previously known as Reduxio, a company that is about to launch a platform allowing to transfer, copy and restore data of any size from the different cloud platforms has raised $11 million in a fifth round led by Jerusalem Venture Partners (JVP). British VC C5 Capital also participated in the round.
  • Evogene, a leading computational biology company focused on revolutionizing product discovery and development in multiple life-science based industries, including human health and agriculture, entered into a definitive agreement with ARK Investment Management, LLC (ARK Invest) and Alpha Capital Anstalt in connection with a registered direct offering of ordinary shares at a price per share of $1.70, for an aggregate cash consideration of $10 million. 

 

M&A/IPO

  • Amwell (NYSE: AMWL), a telehealth company that connects patients with doctors over secure video went public and managed to raise $742 million by selling 41.2 million class A shares at $18 apiece, after increasing the price and number of shares offered. 
  • JFrog (Nasdaq: FROG), an automated software updating company raised $352 million on Nasdaq and the amount could grow by $72 million if the underwriters exercise their option to buy additional shares. Morgan Stanley, J.P. Morgan and BofA Securities acted as the lead book-running managers for the offering. KeyBanc Capital Markets, Piper Sandler, Stifel, William Blair, Oppenheimer & Co. and Needham & Company acted as co-managers.
  • Nyxoah (Euronext Brussels: NYXH), Israeli-Belgium sleep disorder treatment company raised €85 million ($100 million) in an initial public offering (IPO) on the Euronext stock exchange in Europe. The money was raised at a company valuation of €362 million ($423 million) after money and since the IPO the share price has risen by 14% giving a company valuation of €413 million ($485 million).
  • Preempt Security, an American-Israeli cybersecurity startup whose solution offers zero trust and conditional access for continuously detecting and preempting threats based on identity, behavior and risk, was acquired by a California-based cloud-delivered endpoint and cloud workload protection company CrowdStrike Holdings, Inc. in a $96 million deal. 
  • Odo Security, a network security company that developed cloud-based, clientless secure access service edge (SASE) technology that offers secure remote access to company assets by an unlimited number of users, was acquired by Nasdaq-listed network and cloud security company Check Point Software Technologies Ltd. The financial terms weren’t disclosed but its believed to be a $30 million deal.
  • BlueBird Aero Systems, a company which develops and integrates small tactical unmanned aircraft systems (AUS) for the Israeli security sector and foreign governments, was acquired by 50% of the equity by Israel Aerospace Industries (IAI) for $14.4 million. As part of the transaction, IAI is acquiring the holdings of India- based Piramal Technologies SA, and additional shares from Fiberless Access and Ronen Nadir. Nadir will continue to hold 50% of BlueBird shares and continue to serve as the company’s CEO.

Source: https://www.iangels.com/2020/10/iangels-israeli-deal-digest-june-2020-2-2-2/

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Target Mobility GmbH – HRB 195781 B – 31122022B

With our unique vehicle logistic solution, we crowdsource drivers by marketing vehicle transfers as one-way rentals for 1€ to our users, saving fleet operators up to 50% in logistic cost. Our win-win proposition delivers significant savings to fleet operators by monetizing unused capacities of their vehicle logistics (= empty seats) and creating unbeatable travel options from city to city for our users in the process.

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” The Leapfunder Note is a sensible and attractive way to place capital in start-ups in the Netherlands “

” Diversification is important in angel investing. Leapfunder is a platform that allows angels to spread their investments. “

” Leapfunder investing allows you to become actively involved in a start-up, just as in classical angel investing, while taking all the hassle out of transaction execution “

” Leapfunder is ideal for investing smaller amounts in a start-up in the very early stages. Such investments can be a powerful addition to a portfolio “

” With Leapfunder you get a great opportunity to build up a diversified portfolio of start-up investments, often investors can play an active role in developing the company “

” When I saw the Leapfunder proposition I thought straight-away: this is what start-ups need. I am an entrepreneur and wish this system had been available when I started my company. “

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Pieter ter Kuile

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Wouter Kneepkens

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Ronald Bazuin

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Eric van der Maten

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Source: https://www.leapfunder.com/companies/165

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Liquid Alternatives: Fidelity Canada Launches Three New Liquid Alt Mutual Funds

Fidelity Investments Canada, one of the country’s largest investment managers, announced on Tuesday the launch of its maiden offerings within a liquid alternatives suite for Canadian investors.

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Liquid Alternatives: Fidelity Canada Launches Three New Liquid Alt Mutual Funds

https://platodata.net/wp-content/uploads/2020/10/liquid-alternatives-fidelity-canada-launches-three-new-liquid-alt-mutual-funds.jpg

The new funds bring alternative sources of alpha to Canadian investors.

Fidelity Investments Canada, one of the country’s largest investment managers, announced on Tuesday the launch of its maiden offerings within a liquid alternatives suite for Canadian investors.

According to Fidelity, the new liquid alternative mutual funds can provide diversification benefits to retail investors, resulting in improved risk-return profile for their portfolios. They are designed for investors who want to step out beyond the traditional “long-only” investing strategy. (Markets Insider)

Further, these funds may be considered as differentiated solutions for navigating the considerable volatility across markets in 2020, as well as extremely low interest rates.

The new liquid alternative mutual funds are Fidelity Global Value Long/Short Fund, Fidelity Market Neutral Alternative Fund and Fidelity Long/Short Alternative Fund.

Fidelity Global Value Long/Short Fund

This fund seeks to achieve long-term capital appreciation by investing in long and short equity positions of companies across the world. It may use leverage through short selling of up to 50% of its net asset value and by investing in derivatives.

The fund is managed by Dan Dupont.

Fidelity Market Neutral Alternative Fund

This liquid alt fund aims to generate long-term capital appreciation by investing in long and short equity positions of companies in Canada and/or the United States. It may apply leverage through the use of short selling of up to 100% of its net asset value and investing in derivatives. The fund aims for a low correlation to major equity markets.

This fund is managed by David Way.

Fidelity Long/Short Alternative Fund

The goal of this fund is to earn long-term capital appreciation by investing in long and short equity positions of companies in Canada and/or the United States. It may apply leverage through the use of short selling between 30% to 50% of its net asset value, and by investing in derivatives.

“With the launch of our new alternative suite of products, retail investors can access products that until recently were only available to institutional or high-net-worth investors,” said Kelly Creelman, Senior Vice President, Products, Fidelity. “Our new offerings provide a broader opportunity set for investors seeking returns and diversification benefits beyond traditional “long-only” products.”

Related Story:  Liquid Alternatives – Because Bonds No Longer Diversify Or Pay A Yield

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Source: https://dailyalts.com/liquid-alternatives-fidelity-canada-launches-three-new-liquid-alt-mutual-funds/

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