Gen II Fund Services (Gen II), an independent fund administrator in the alternative investment space, has acquired Update Capital, a specialist in investment management technology solutions for the real estate asset class.
Terms of the transaction have not been disclosed.
Founded by Ran Kohavi and Itamar David, Vancouver-based Update Capital provides an automated, cloud-based solution for real estate sponsors to manage their assets, engage their investors, and connect with new prospects. The product offers asset-level data as well as financial and transactional data providing visibility to both the manager and investors. Ran Kohavi, Co-Founder and CEO of Update Capital, will join Gen II as Chief Product Technology Officer.