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⛏️ Mining Index Grows 36%. $1.6B+ VC Funding Day.

Impact Capital Markets #105 looks at our Defense Stock Index, major impact deals, M&A, and upcoming economic releases.

Dia dhuit ☘️

📈 Today's Global Economic Update: The US economy grew 1.3% in Q1 2024, lower than the 1.6% advance estimate and 3.4% in Q4, mainly due to reduced consumer spending. Higher non-residential and residential investments partially offset the slowdown, indicating a shift towards investment-driven growth.

💊 Deal of the Day: CinRx Pharma, an Ohio-based biopharmaceutical company, raised $73M to develop its portfolio.

What's New?

⛏️ Defense. Mining index up 36%
💰 Funding. Cloud infrastructure, textile recycling, biopharmaceuticals + more
💼 M&A. Renewable energy acquired Nexus Renewables
📅 Economics. Euro area inflation, GDP, balance of trade + more

⛏️ Mining Index Up 36%

HolonIQ's mining index increased by 36% over the past year, showing a steady rise after an initial slowdown in the first quarter. The global drive for decarbonization has fueled sector growth, with mining providing essential materials for this transition, ensuring continued investment. Major stocks like Southern Copper Corp ($93B MCap), China Shenhua Energy ($118B MCap), and BHP Group Ltd ($150B MCap) have risen by 75%, 48%, and 8%, respectively, reflecting this trend. However, the sector faces challenges, as seen in Q3 2023 when stock prices fell due to decreased demand from China's heavy industry and real estate sectors, along with a decline in metal prices reported by the World Bank. Additionally, rising supply costs amid shifting demand present further difficulties. Addressing these challenges, embracing transformation towards purpose-driven, low-carbon, digitally enabled organizations, and leveraging ESG integration and technological advancements will support sustainable revenue growth in the mining sector.

💰 Funding

☁️ CoreWeave, a New Jersey-based cloud infrastructure company, raised a $1.1B Series C from Coatue to support its growth and expand into new regions.

🧵 Syre, a Swedish textile impact company, raised a $100M Series A from TPG Rise Climate to set up two large textile recycling plants.

💊 CinRx Pharma, an Ohio-based biopharmaceutical company, raised $73M to develop its portfolio and expand in key areas of unmet medical need.

💰 Squared Circles, a New York-based venture capital firm, raised a $40M Series A from L Catterton to launch at least five new health and wellness brands in the next three years.

💳 Doconomy, a Swedish fintech company, raised a $36.8M Series B from UBS Next and CommerzVentures to speed up its expansion in North America and improve its product offerings.

🕹️ Firefly, an Israeli multi-cloud control plane solution provider, raised a $23M Series A from Vertex to expand its team and better support its Platform Engineering.

🧠 ifeel, a Spanish mental health solution provider, raised a $20M Series B from FinTLV Ventures and Korelya Capital to expand its commercial reach.

💼 M&A

⚡️ Apricus Generation, a Florida-based energy investment firm, acquired Nexus Renewables, a Canadian renewable energy storage company.

📅 Economic Calendar

Euro Area Inflation, GDP, Balance of Trade + More

Monday, June 3rd 2024

🇺🇸 US ISM Manufacturing PMI, May

Tuesday, June 4th 2024

🇺🇸 US JOLTs Job Openings, April
🇦🇺 Australia GDP Growth Data, Q1

Wednesday, June 5th 2024

🇨🇦 Canada BoC Interest Rate Decision
🇺🇸 US ISM Services PMI, May
🇦🇺 Australia Balance of Trade Data, April

Thursday, June 6th 2024

🇪🇦 Euro Area Deposit Facility Data
🇪🇦 Euro Area ECB Interest Rate Decision
🇪🇦 Euro Area ECB Press Conference
🇨🇦 Canada Ivey PMI s.a, May
🇨🇳 China Balance of Trade Data, May

Friday, June 7th 2024

🇩🇪 Germany Balance of Trade Data, April
🇨🇦 Canada Balance of Trade Data, April
🇨🇦 Canada Employment Data, May
🇺🇸 US Employment Data, May

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