Solutions
Cyber-security software firm ZoneFox has closed a GBP3.6 million Series A funding round led by Scottish business angel investment syndicate Archangels, with co-investment from The Scottish Investment Bank and TriCap.
Based in Edinburgh, ZoneFox focuses on providing security systems that effectively combat the growing issue of insider threats to businesses across the financial, pharma, gaming and other business sectors.
Its customers include healthcare firm Craneware, Zenith Bank and Rockstar Games.
It recently launched a new machine based learning solution, called ZoneFox Augmented Intelligence (AI). The product has been created over the course of six years and is targeted
Global fiduciary and administration provider Estera has acquired Guernsey-based Morgan Sharpe Administration.
The deal was finalised on 27 February and is subject to regulatory approvals, following which the business will be rebranded under the Estera name.
Farah Ballands, CEO of Estera, says: “This is a great start to the new year following the success of our rebrand in 2016. The team at Morgan Sharpe is a perfect fit with the Estera group – they are committed to the high standards of service that our clients are accustomed to and we are pleased to welcome them. Under our ownership, Morgan
Northern Trust, in collaboration with IBM and other key stakeholders, has launched the first commercial deployment of blockchain technology for the private equity market.
While private equity returns can be attractive, the infrastructure supporting private equity has seen little innovation in recent years at a time when investors are seeking greater transparency, security and efficiency.
To address this need, Northern Trust and IBM built a security-rich blockchain, or distributed ledger solution, based on the Hyperledger Fabric. It is available for use for managing the administration of a private equity fund managed by Unigestion, a Geneva, Switzerland-based asset manager with
Preqin has launched Preqin Solutions, which is aiming to provide a cost-effective, scalable and secure data solution to meet the market need for transparent, accurate and efficient tracking of private capital portfolio performance.
Preqin says the platform is designed to provide ‘innovative, time-saving and easy-to-use tools that streamline the collection of portfolio company data, and improve the valuation and reporting processes undertaken by fund managers, thereby enabling more effective portfolio value creation and communication with investor clients. The cloud-based platform is quick and easy to implement, making Preqin Solutions accessible to managers of all sizes’.
The creation of the division
Berdon Fund Services, a New York-based fund administrator has incorporated FundCount’s accounting and investment software into its service offering.
FundCount is a Boston-based provider of integrated investment, partnership and general ledger accounting software that has been working with hedge funds, family offices and fund administrators since 1999. Berdon Fund Services’ adoption of the FundCount platform will enhance its service approach – by providing a robust solution that will enhance efficiency and overall client service – and better position the firm for growth.
Berdon Fund Services, an affiliate of New York-based Berdon LLP – Accountants and Advisors, was launched in 2015
Proper fund governance has long been championed by leading offshore law firm Conyers Dill & Pearman, which for the last decade has encouraged its hedge fund clients to hold at least annual directors meetings. Initially this was met with some resistance according to Robert Briant (pictured), Partner and head of Conyers’ BVI office, who confirms that such resistance has softened over the last few years.
“Even though there is no requirement in the BVI for the directors to meet annually, they do meet and are happy to meet when we suggest it. So that is a positive change. Some funds
One of the reasons as to why the BVI introduced the Incubator and Approved Fund products in May 2015 was, partly, in response to the fact that fund launch numbers in the global hedge fund industry had started to steadily decline. Rising regulatory and compliance costs were hurting start-up managers and dissuading people from coming to market.
In that sense, the BVI was quite prescient and demonstrates the forward looking approach that its regulator, the BVI Financial Services Commission (the "Commission"), takes to ensure that the jurisdiction remains as accessible as possible to start-ups and emerging managers, as well as
Circle Partners is an independent fund administrator with offices in the BVI, Cayman Islands, and across the EU, the Americas and Hong Kong.
"We've seen a lot of growth in new BVI fund vehicles over the last 12 months – both the Incubator Fund and the more popular Approved Fund," reflects Peter Jakubicka (pictured), Business Development Manager at Circle Partners. "These vehicles have been the main driver of business for us in the BVI and we've seen continued interest in the first few weeks of January this year; this is partly due to the fact that Cayman has not introduced
"We see the funds industry as continuing to contribute to the overall offering of financial services. There remains good interest in the BVI product and we envisage that will continue," asserts Glenford Malone, Director, Investment Business Division, BVI Financial Services Commission, when asked to comment on the growth of the BVI's funds industry.
Like every fund jurisdiction, the estimated 40 per cent drop in new fund launches in the hedge fund industry last year negatively impacted the BVI. And as the costs of running a hedge fund business increase, some are choosing to call it a day and revert to
Ramsdens Holdings, a diversified financial services provider and retailer backed by NorthEdge Capital, is to seek admission of its shares to trading on the AIM Market of the London Stock Exchange following a successful institutional placing.
Admission is expected to occur on 15 February 2017.
Ramsdens operates in the four core business segments of foreign currency exchange, pawnbroking loans, the buying and selling of precious metals and the retailing of second hand and new jewellery.
Headquartered in Middlesbrough, the company operates from 127 stores within the UK and has a growing online presence, serving over 700,000 customers across
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12 November, 2026 – 8:00 am
12 November, 2026 – 5:00 pm
