X-TECH, an AI Over Frequency trading company, receives 50 million euros from multiple European funds
Gerson Martins
X-TECH, creator of OFT (over-frequency trading), with a powerful research and development team, leads the future of AI trading technology. The New York Times [August 10, 2020]
Two European funds invest in X-TECH to expand into the Asia-Pacific and European markets.
X-TECH LTD is a technology company based in Texas and is known for being the company to set the standard for what is known as “OFT” which stands for “Over Frequency Trading”. Currently X-TECH is the only firm in the world conducting OFT. Since 2015, the company has invested nearly 80 million US dollars into the field of artificial neural network research and development. Their cooperative institutions for research and development include laboratories researching AI throughout the United States, such as MIT, and have published recommendations for future AI technology security at the Innovation XLab Summits in 2019.
Despite the COVID-19 pandemic sweeping the world throughout 2020, X-TECH was able to successfully expand operations and trading throughout the Asia-Pacific market by maximizing the utilization of their technological innovations.
The Asia-Pacific region, where the pandemic has been largely stymied, has seen steady business growth since the start of the second half of 2020, and has attracted considerable attention from European capitalist who’ve seen the value of their investment portfolios damaged as a result of the pandemic-related shutdowns.
Additionally, the coming year also looks to be on track to do well, with the Deutsche Bank predicting the overall economic growth rate in the Asia-Pacific region reaching the 8% mark in 2021.
Among these European investors, private equity firms PICTET and ACAL have jumped into the fray, investing heavily in technology. In October of 2020, Pictet Alternative Advisors (PAA), a subsidiary of PICTET Group, launched their first technology-focused private equity fund. Additionally, ACAL Private Equity in Luxembourg has established ACAL S.à rl, a fund that mainly invests in technology, industrial equipment manufacturing, industrial automation, new materials, new energy, as well as other related fields.
It is estimated that the scale of these investments will amount to approximately 50 million euros. The proportion of equity transfer related to these investments has not been made public.
What’s more, these high-level European investments into the technology industry in the Asia-Pacifc region show no sign of slowing down, with HSBC recently announcing that they plan to focus and invest in business areas and markets that show the greatest growth potential, including developing itself into the bank of choice for high net-worth Asian customers. This trend of capital flowing into markets where it can yield a greater return is nothing knew to business, and it certainly appears that the Asia-Pacific region is where the current investment yield is best.
It is clear that companies like X-TECH, which focus on high-technology industries such as OFT, will continue to be favored by many European investors and continue to see considerable investment inflows.