Company News: Alternatives sub-portfolio
Enlitic (positive impact) was awarded a contract by the United States Defense Innovation Unit to prototype an advanced artificial intelligence platform for diagnostic imaging at Defense Health Agency and Veteran’s Affairs Medical facilities.
The contract will allow Enlitic to implement its technology across multiple facilities, allowing it to utilise military personnel data to train, further develop its algorithms and could potentially lead to further lucrative contracts.
Acorn Capital Expansion Fund (positive impact) gave an update on its portfolio. It has made investments in two new companies: CleanSpace and Moula. Clients will see as a purchase in their portfolios, representing the drawdown of capital we pre-committed to the fund.
Cleanspace designs and manufactures lightweight respirators for healthcare and industrial workers, which look to compete with disposable masks.
Moula is financing company which provides loans to SMEs using a novel credit algorithm, which automates a significant proportion of credit decisions. The company has evolved to couple this with a buy now pay later product (MoulaPay) which it is looking to roll out on a broader scale.
The investments add to the current portfolio of six companies in the fund, which provides diversified exposure to emerging companies over a range of industries.