Solutions
The Depository Trust & Clearing Corporation (DTCC) is launching a new platform to streamline the issuance, transfer and servicing of private market securities.
As described in a new industry report, “Digital Securities Management: Bringing Private Markets Infrastructure Into the 21st Century,” DTCC’s new Digital Securities Management (DSM) platform will, subject to regulatory approval, for the first time, provide an industry-wide solution that offers common market infrastructure and standards across private markets. The platform represents the next major milestone in DTCC’s efforts to bring automation, standardisation and efficiency to the private markets, building upon its Project Whitney case study.
DSM
Confluence Technologies (Confluence), a technology solutions provider helping the investment management industry solve complex investment data challenges, is to acquire Compliance Solutions Strategies (CSS), a global regulatory software (RegTech) company that enables financial services firms to meet mandatory regulatory compliance requirements.
Confluence is backed by Clearlake Capital Group and TA Associates (TA).
Founded in 2017 and headquartered in New York, CSS offers clients a next-generation global RegTech platform underpinned by its proprietary Regulatory Book of Record (RBOR) data management solution. Servicing more than 600 clients globally, including nine of the top 10 global asset managers and six of the
Fast-growing IT services company Acora has made a third bolt-on acquisition since the investment by Palatine in 2020, and is planning to ramp up further deals in 2022.
The latest deal, for London-based M9 Limited, brings a thriving and forward-looking IT services provider with over 40 staff, and nearly 100 long-term contracted customers to Acora Group.
Founded in 1990, M9 has also established a strong international presence with an offshore team in Kuala Lumpur.
Since Palatine’s initial investment of in the Acora Group in 2020, as a result of the three acquisitions – Veber Ltd, Westgate and now M9 Limited
Nasdaq is to collect and make its private fund manager diversity, equity, and inclusion (DEI) data available for investors free of charge via the Nasdaq eVestment platform in an effort to improve transparency and disclosure standardisation across the industry. The data will be available starting on 16 February, 2022.
Nasdaq has worked with the Institutional Limited Partners’ Association (ILPA) and FCLTGlobal to ensure its data collection aligns with ILPA’s newly published Diversity Metrics template, and respective guidelines published by each group. By aligning to these industry standards for private fund manager DEI data, Nasdaq aims to reduce barriers to information
Apex Group Ltd (Apex), a global financial services provider, has been appointed to provide fund administration services to Revelstoke Capital (Revelstoke), a private equity firm building industry-leading companies in healthcare and the health and wellness sectors.
Revelstoke has a strong track record of partnering with entrepreneurs and management teams to drive growth through identifying unmet needs and bringing differentiated offerings to the market. Based in Denver, Colorado, Revelstoke reports USD3.8 billion in assets under management.
Apex’s fund administration services are the foundation of its single-source solution and will ensure the delivery of timely, accurate and independent portfolio accounting, fund
IK Partners’ (IK) IK IX Fund is to acquire Truesec Group AB (Truesec) from Sobro, alongside management and employees who will be reinvesting. Financial terms of the transaction have not been disclosed.
Founded in 2005 by Marcus Murray and headquartered in Stockholm, Sweden, Truesec is the leading independent cybersecurity service provider in Sweden. Its purpose is to prevent and reduce impact from cyberattacks, making a true difference to today’s connected society. This purpose, coupled with its strong culture and diverse opportunities, ensures that Truesec successfully attracts the best talent in the cybersecurity industry. At present, the Group employs approximately 180
Fyllo, a specialist in compliance-first SaaS solutions for highly regulated industries, has closed a USD40 million Series C round led by Eminence Capital.
New venture firms that participated in the round include Longview Capital Advisors and ArrowMark Partners.
Fyllo is developing compliance, data and marketing solutions to enable companies in highly regulated sectors like cannabis to scale effectively. Today, companies across the cannabis supply chain rely on Fyllo’s compliance-first solutions to navigate the industry’s ever-changing regulatory environment. For both cannabis and mainstream brands, Fyllo’s Data Marketplace provides unparalleled access to cannabis and CBD audiences, a lucrative and rapidly growing consumer
Female Invest, an EdTech platform and community which empowers women by increasing their understanding of personal finance and investing, has closed a GBP3.3 million funding round from a syndicate of prominent investors including Y Combinator and Dr Fiona Pathiraja.
Female Invest was founded in 2019 by Emma Due Bitz (26), Camilla Falkenberg (28), and Anna-Sophie Hartvigsen (27), and inspired by their own experiences of attending personal finance educational events at which women were largely absent, and their subsequent discovery of the unaddressed gender disparity in investments and savings.
All three co-founders were named in the Forbes 30 Under 30
Cadenza Ventures has raised a USD50 million early stage venture fund, anchored by Van Eck Associates, with participation from institutions that include Solana, Dapper Labs, WorldQuant Ventures, Mirana, TRON, Lennertz, Babel Finance, Social Leverage and individuals affiliated with Coinbase, Kraken Ventures, Angellist and Norwest Venture Partners.
The fund is led by its Co-Founders and Managing Partners, Kumar Dandapani and Max Shapiro. The Cadenza team is composed of technologists and investment professionals that previously assembled a corporate venture portfolio that has generated outsized returns. This portfolio includes Seed and Series A early stage investments in unicorns FalconX, BlockFi, CoinDCX and FTX’s
Healthcare software provider Alfa eCare, backed by Main Capital Partners, has entered the Finnish market for childcare software with the acquisition of Daisy.
Daisy, flagship label of software company WhileOnTheMove, is active in the Finnish municipality ecosystem providing software solutions for early childhood education and daycare.
Daisy is the third acquisition of Alfa eCare following the investment of Main Capital Partners in 2020. The combined group will create a leading Nordic eCare group with strong presence in the municipal care segment, servicing more than 200 municipalities and regions in the Swedish and Finnish market. The combination of Alfa eCare and
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