Asset Class works to create a fully integrated, end-to-end investment management platform for clients across financial sectors.
The Fintech firm Asset Class, headquartered in Dublin, has secured $ 11.6 million in a Series A round to increase its software and business development capabilities.
The financing round was led by fintech-focused venture capital firm Canapi Ventures, with participation from Live Oak Ventures, Plexus Capital and Total Technology Ventures.
Founded in 2020, Asset Class delivers software to clients across financial sectors, including private equity venture capital, financial advice and commercial lending. The Dublin-based company also has offices in New York, Atlanta and London.
The company said it has achieved impressive growth since announcing a $ 3 million seed round last year, as companies have turned to the asset class to manage the investor life cycle from end to end.
“As we have grown, we like to say that venture capital, private equity and commercial lending companies we work with come for the technology we offer and remain for the network we offer,” Asset Class CEO Ferdinand Roberts said today (11). July). ).
“Our client-first approach has led to incredible growth, and this new round of funding will only drive us further in our mission to provide a fully integrated, end-to-end investment management platform in the field of alternatives,” said Roberts.
Asset Class now serves more than 300 funds totaling $ 33 billion in total assets, across a network of more than 15,000 accredited investors.
The company is now seeking to expand the number of employees, especially in the areas of software and business development.
Asset Class said it intends to capitalize on the “positive tailwind” affecting the industry, such as growth in the number of private equity funds seeking access to alternative fund strategies.
“We have been extremely impressed with the growth of the asset class over the past year,” said Canapi Ventures general partner Neil Underwood.
“The company’s unsurpassed ability to bring secondary market liquidity to the private capital markets and provide fund managers with a better investor overview has positioned the company at the forefront of the industry, opening up many exciting opportunities for the future,” said Underwood.
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