Sovereign Capital Partners’ portfolio company ACOLIN, a provider of regulatory and cross-border fund distribution services, has acquired Fundbase, a digital fund distribution and data management business, from Swiss FinTech business Nectar Digital Wealth.
This is ACOLIN’s first acquisition since Sovereign backed the MBO of the business in June 2020 to further develop its client base and service offering through a strategy of organic and acquisitive growth.
Fundbase provides asset managers with access to professional investors through a digital marketing and communication portal. For investors, it delivers a sophisticated data and document management offering to track selected funds. The acquisition gives ACOLIN a first-class platform technology to better serve its clients which can also be further developed through the addition of ACOLIN’s own investor network and service offering to over 600 asset management clients.
The business now operates throughout Europe from nine locations including Zurich, Geneva, London, Frankfurt and Belgrade, employing c95 members of staff.
At the time of the MBO, Sovereign backed a highly experienced management team led by founder Daniel Haefele, a proven entrepreneur within the asset management industry. This transaction further strengthens the team with the addition of Neil Stiefel as CEO of Fundbase.
Alex Hay, Partner, Sovereign, says: “The cross-border fund distribution regulatory landscape is both complex and quickly evolving. Fundbase realises ACOLIN’s vision of establishing a digital marketplace platform and provides asset managers with access to a suite of digital tools designed to support them in finding the most suitable professional investors for their product strategies. ACOLIN is well positioned to further develop its offering and geographic reach in this market.”
Daniel Haefele, founder, Executive Vice-Chairman and CEO of ACOLIN, says: “We are delighted to complete our first acquisition which adds a sophisticated platform technology to help our clients with their digital distribution strategies and brings an exceptional team. Sovereign are highly supportive investment partners and we look forward to further enhancing ACOLIN’s offering in the months and years to come.”
