Live Oak Ventures participates in Series A Financing of Asset Class
WILMINGTON, NC, July 11, 2022 (GLOBE NEWSWIRE) – Live Oak Ventures, the investment arm of Live Oak Bancshares, Inc., has announced an investment in Asset Class, a Dublin-based fintech offering a range of innovative, customized investment management software solutions to clients across financial sectors, with a focus on private equity, venture capital, financial advice and commercial lending.
Asset Class now serves more than 300 funds, a total of $ 33 billion in total assets, and a network of over 15,000 accredited investors.
Live Oak Ventures participated in the round to support solutions for the venture capital and private equity clients that Live Oak Bank serves. “We believe there are exciting applications of embedded banking in collaboration with Asset Class. As an investment advisor for Canapi Ventures, Live Oak also sees the need for modern, integrated solutions for alternative investment funds,” said Stephanie Mann, Chief Strategy Officer at Live Oak Bancshares. Canapi Ventures led Series A funding of $ 11.6 million.
The growth capital will allow Asset Class to focus on expanding the number of employees, especially in the areas of software and business development. The asset class intends to capitalize on the positive tailwind that is affecting the industry, which includes growth in the number of private equity funds and accredited investors seeking access, a digital-first-landscape and trillions of dollars of cash ready to be distributed in alternative fund strategies such as the asset class serves.
“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,” said Ferdinand Roberts, CEO and founder of Asset Class. . “Our client-first approach has led us 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 Alternative Area.”
About Live Oak Ventures
Live Oak Ventures, a wholly owned subsidiary of Live Oak Bancshares (NASDAQ: LOB), is a fintech-focused investor that aims to bring innovation and outstanding performance to the forefront of the banking industry. By investing in companies that accelerate the delivery of open digital solutions to the market, Live Oak Ventures intends to change the landscape of financial services and small businesses.
About asset class
Asset Class is a fintech company with offices in Dublin, New York, Atlanta and London. The company delivers tailored and packaged software to the financial sector in Europe and the United States and is focused on asset management, commercial lending and asset management globally. For more information, please visit www.assetclass.com.
Consult:
Claire Parker
Live Oak Bank, SVP Corporate Communications
910,597,1592
[email protected]
