Augmentum and Revere invest in SRL Global
Augmentum Capital, a growth capital fund backed by RIT Capital Partners, and Revere Capital Advisors have made an investment in SRL Global, a technology partner to pension funds, insurance companies, endowments and large family offices.
Augmentum and Revere led a GBP7.5m funding round in the company in exchange for an equity interest. Both investors will join the board at SRL Global.
Initially established in 2007 as a trading and technology joint venture with Man Group to develop a proprietary enterprise investment platform for the company, SRL Global was spun out by the management team as an independent operating entity in July 2009.
SRL, which is based in West London, allows asset owners and allocators to see how their individual allocations impact their collective portfolio of alternative and traditional investments through the analysis of the underlying position data.
Tim Levene (pictured), partner of Augmentum Capital, says: “Augmentum Capital specialises in helping build dynamic growth technology businesses. We are delighted to be backing such a talented team with an unrivalled technology platform that is in tremendous demand. We will work together with SRL to further develop their business and ultimately exploit their potential.”
SRL founder and chief executive Neil Puri says: “Following our successful capital raise, we now have the backing a syndicate of very strong long term investors. This gives SRL the financial strength and stability that allows us to continue to accelerate our growth and penetration of the pension fund, insurance, endowment and large family office community.”
Dan Barnett, chief executive of Revere Capital Advisors, adds: “We are very excited by the opportunity to partner with SRL, and we expect the SRL Nexus Enterprise Suite to be a very successful product which will also enhance Revere's own ability to provide improved risk management capability for our investors.”
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