This Week’s Vendor News

NEW & UPDATED PRODUCTS

FactSet launches AI Solutions for Technologists. This new suite of solutions is designed to enable technologists and developers to build proprietary workflows and accelerate their AI-powered innovations. FactSet combines 1) packaged data, 2) a conversational API, 3) and an AI partner program, into its new three-pronged offering to advance the development of AI-powered workflows. With the GenAI Data Package, users can boost proprietary development by reducing the time spent collecting and normalizing data. ↗

Anduin Transactions has introduced Investor Data Management. Anduin's new solution helps LP workflows by giving GPs access to all their investor data in one centralized place for: faster fund subscriptions, automated compliance checks and better post-close interactions. ↗

Robin AI has introduced Robin AI Reports. Robin AI Reports automates a key piece of due diligence and negotiations. The new offering can generate reports on contracts in minutes — solving expensive pain points for legal teams, by cutting the time and cost of manual work in due diligence around M&A, IPOs, and other asset management including real estate and debt financing. Why this matters? The Reports product can deliver a single report analyzing many legal texts, which will help legal teams close deals faster, changing how M&A and IPOs will be conducted. This product launch will also save investors’ money. Additionally, Reports equips C-Suite executives and board members with the information required to get alignment on key issues, removing blockers and delays from processes. ↗

Venture360 has launched Investor Reporting. All relevant reports and KPIs are now instantly transmitted to investors' portfolios, providing on-demand access to important insights. ↗

Tegus has unveiled its new AI Dashboard. The new dashboard, which covers 90 US and global companies, delivers: AI revenue metrics, price returns for quick momentum analysis, forward-looking growth and valuation multiples and historical relative valuation data. ↗

Attio has introduced Attio Objects. Attio Objects is a new data model with custom objects that gives users flexibility over how they structure their data to build whatever custom CRM they need. Benefits of Attio's object data model are: flexibility, scalability, integration and fast time-to-value. Along with custom objects, Attio has also introduced new standard objects: 1) Workspaces and Users objects for PLG businesses. 2) A Deals object for sales-driven companies. ↗

Apex has launched Apex Unitas, a new flexible fund structuring solution. Apex Unitas provides a flexible structure that allows one or many investors, whether from the UK or from other jurisdictions, to invest. Apex Unitas offers fund managers a streamlined, tax-transparent solution without VAT charges, designed to simplify investments alongside or separate from the master fund. All the reporting and administration are provided for the life of the investment, and the fund manager remains fully in control. ↗

Preqin launches Transaction Intelligence. Transaction Intelligence is new transaction repository powered by customizable analytics to analyze historical and interim deal performance and valuations in private markets. Available to clients through Preqin Pro, or as a standalone product, Transaction Intelligence provides aggregated and anonymized transaction data at the deal and asset-level. The goal is to achieve insights across front and middle office roles, allowing investment professionals to benchmark portfolios with accuracy, pinpoint high-potential sectors, refine valuation models, and optimize individual strategies using real, relevant transactions data. ↗

Tracxn has made updates to its platform. Tracxn is now curating US cap tables, has also launched new sectors to discover innovative startups and Tracxn's financials database has doubled to more than 800,000 entries. ↗

Asset Class has launched two new updates from the most recent release on its platform. The first is enhanced asset performance tracking, which includes comprehensive data logging, intuitive navigation, customizable rows, tooltip guidance and spreadsheet Integration. Asset Class has also made Plaid improvements, like capital call restrictions on Plaid connections, revoking Plaid access for individual funds and automated IR team task assignment. ↗

LTX, an AI-powered corporate bond trading platform backed by Broadridge Financial Solutions has launched a new GenAI-powered List Trading functionality. This new feature allows users to leverage GPT technology to generate and execute multi-asset class, multi-directional trade lists seamlessly via RFQ+. This new capability addresses the ongoing need to streamline workflows, as clients seek to integrate GenAI into their pre-trade and trade execution processes. ↗

Atfinity has released Version 12.1 on its platform, which includes two new updates. The first update is that Atfinity has increased the overall speed for all users, so processing rules is up to 90% faster than before. The second update is a new information type: File. With this new field type, you can ask users to provide answers by uploading a file, not only by filling out information fields with text. ↗

OneTrust is launching Compliance Automation. Compliance Automation is a new platform capability designed to help teams scale resources while optimizing the compliance and certification processes across operations and IT ecosystems. Organizations can better bridge gaps between operations and their compliance function with tailored project management, streamlined workflows, automated evidence collection and regulatory guidance. ↗

RepRisk has introduced its latest product development, the RepRisk Due Diligence Scores. Now, users can access over 200 individual Sustainability risk metrics to screen investments, client base, and supply chain efficiently. These scores evaluate specific risk factors on a 0 (low risk) to 100 (high risk) scale, enabling a targeted assessment of a company's risk profile. With these new metrics, users can concentrate on relevant Sustainability and ESG risks for their organization and identify companies with a high-risk profile based on specific criteria. ↗

Drooms has unveiled the Drooms Online Archive. The Drooms Online Archive is a secure and sustainable solution for archiving the final version of your data room post-transaction. This solution, which is in the cloud, replaces traditional physical data carriers like USB sticks, eliminating the inconvenience and security risks. Securing and preserving transaction data post-deal is important for compliance, audit readiness, and corporate governance. ↗

MSCI is launching its first solution powered by generative AI, MSCI AI Portfolio Insights. MSCI AI Portfolio Insights provides actionable risk and performance insights and integrates risk management into investment decision processes. Designed to increase speed, create efficiencies and enhance collaboration with investment teams, this solution allows teams to proactively manage risk. Key benefits include: scaled risk management process, increased efficiency and transformed communication. ↗

Validus Risk Management has introduced PUTD – a next generation ETF. PUTD tracks the Cboe Validus S&P500 Dynamic PutWrite index, aiming to deliver a long S&P500 exposure with superior risk-adjusted returns. PUTD makes institutional-grade investment accessible to all investors. ↗

SimilarWeb made two new updates on its platform in May. These two new updates are located in Stock Intelligence. First, SimilarWeb introduced Heatmaps 2.0: letting users spot trends and drill down into specific domains to identify market leaders. Also, for subsidiaries, they've added a breakdown of daily web traffic performance, which users can filter by region – for more detailed insights into recurring patterns and outliers. These features are now live on the SimilarWeb platform. ↗

DEAL ACTIVITY

AlphaSense is acquiring Tegus. This transaction will bring Tegus' private company data to AlphaSense's platform. Tegus is valued at $930 million and as part of this deal, AlphaSense has raised $650 million in funding, which brings AlphaSense's valuation to $4 billion. The acquisition is expected to close in the third quarter of 2024. ↗

FactSet has invested $12.5 million in the prospecting and relationship intelligence platform, Aidentified. Aidentified provides tools to identify, qualify and convert new client relationships. The company will use the capital to fund additional research and development, further improve data quality and grow its team to help meet and drive demand. ↗

PARTNERSHIPS & INTEGRATIONS

Passthrough and Entrilia have announced a new partnership together. With this partnership, fund managers can replace manual reviews of PDF sub docs and tangled email threads with a few clicks in Passthrough’s platform. The integration process with Passthrough and Entrilia is designed to be straightforward and user-friendly. Once the platforms are connected, fund managers provide access to Passthrough to complete their sub docs. Entrilia’s platform digitally consumes each investor’s unique sub doc data, enabling fund managers to capture all related transactional events and utilize Entrilia’s reporting capabilities to create and distribute relevant reports to their investors. This process reduces manual data entry, minimizes errors, ensures compliance, and significantly decreases the operational time required to close a fund. ↗

Venturelytic has announced its latest integration with Crunchbase. This new functionality allows Venturelytic users to push company details from their Crunchbase lists directly into Venturelytic, which reduces manual data entry and enhances the efficiency and targeting of their dealflow process. This Crunchbase integration enables users to create lists of potential add-on targets for platform companies or populate their deal funnel with targeted leads. By allowing users to filter companies by size and specific domains, this partnership allows VC and PE firms to adopt a new approach to deal sourcing. ↗

Floww is partnering with Kemeny Capital to mutually benefit their scaleups and experienced investors. For Kemeny’s experienced investors, this partnership will provide curated deal flow, in-depth company performance data, and portfolio management tools in one platform. For companies seeking capital, this collaboration will help maximize their chances of raising successfully. ↗

Beauhurst has partnered with Ards and North Down Borough Council. Ards and North Down have decided to partner with Beauhurst for a comprehensive and in-depth view of the UK market. Ards and North Down will now have access to: 1) Insights on all businesses in their region (and across the UK) to inform strategy, business engagement and support. 2) Identifying the high-growth businesses in their region (e.g. Mash Direct), and the ones showing signs of risk. 3) Tracking the impact of their engagement with local businesses. ↗

Cloud Ratings has announced a new research partnership with G2. Cloud Ratings Quadrants will now feature G2 data for Return On Investment, Implementation, and Customer Mix. ↗

Addepar has welcomed Dorsum | Investment Software to its partner program. Dorsum is a customizable digital Wealth Portal that helps advisors stay connected with their clients by providing a modernized wealth hub experience available on both mobile and web. Dorsum’s Wealth Portal is ready & available for all customers using Addepar. ↗

InvestorFlow has introduced its Spring '24 release, along with the new InvestorFlow Link for Preqin. This feature brings Preqin data directly into users' CRM workflows, helping fundraisers quickly identify potential investors, shorten discovery times, enhance team communication and supercharge fundraising efforts. ↗

Carta is partnering with Vouch to automate insurance for startups. The goal of this partnership is to modernize the insurance experience and provide coverage that’s purpose-built for insurance powered by real-time data. Carta and Vouch have announced two features of this partnership: 1) easier onboarding with pre-fills - When a founder starts an insurance application with Vouch and authenticates using their Carta account, Vouch will pre-fill portions of the company’s application using the Carta API. 2) recommended coverage updates - Starting later this year, if your startup is covered by Vouch, you’ll be able to use Vouch’s new integration to link your Carta account, keeping Vouch in the loop on developments and enabling them to recommend an update to your coverage when you need it. ↗

Filament Syfter has partnered with Silversmith Capital Partners to deliver their Data and AI engine that will streamline and enhance the sourcing process. This technology will allow Silversmith to identify and monitor company growth, by unifying a diverse set of signals. ↗

Brightpoint Fund Services has selected Quantium to power their fund management and investor reporting operations. Brightpoint, which was founded in 2016, is a financial services and investment firm with a holistic approach of customized solutions for alternative investments. ↗

Steadview Capital has selected Chronograph to bolster its portfolio monitoring capabilities while streamlining reporting and valuations. Steadview is an investment firm with an emphasis on India that makes long-term investments in high-growth public and private companies. ↗

Paine Schwartz Partners has selected Backstop Solutions to support its fundraising, investor relations, and deal management initiatives. Backstop Solutions will give Paine Schwartz Partners a holistic view of the investor lifecycle and deal pipeline, supporting communication, collaboration, and decision-making across the organization. ↗

DTOS Ltd, a corporate service provider active for the past 30 years within the Mauritius International Financial Centre, has selected Pacific Fund Systems' PAXUS fund administration system for its third-party accounting operations. DTOS has opted for a full SaaS PAXUS-CLOUD deployment model, which allows their Funds and Financial Institutions team to benefit from a fully secure vendor hosted solution, with staff able to access PAXUS from anywhere in the world, secure in the knowledge all data is managed 24/7 in a secure environment, and that all upgrades, continuity and ongoing maintenance will be taken care of by PAXUS’ experts. ↗

OFFICE & PERSONNEL

73 Strings has announced appointment of Celine Bes as Head of Alternative Asset Solutions - EMEA. Bes brings over two decades of experience to 73 Strings. Most recently, she spent 13 years at Goldman Sachs, where she held senior roles, including Head of M&A Valuation within the global Fairness and Valuation Committee, and led valuation efforts for the firm's private equity portfolio. Prior to Goldman Sachs, Bes was with Ernst & Young in Paris and New York, contributing to the expansion of the Transaction Services and the Hedge Fund and Private Equity Portfolio Advisory practice. ↗

Jodi Langlois has been appointed as a Director, Private Wealth for Guernsey at IQ-EQ. Langlois previously spent time at Equiom Group and VISTRA. Langlois is also a member and Secretary of the Guernsey Association of Trustees. ↗

Aleksandar Petrovic recently joined Atfinity's marketing team as a Content Writer. Petrovic brings several years of content marketing experience to the company. ↗

Alto has welcomed four new additions to the company. Will Fischer-Colbrie is an Investor Relations Associate, Josh Benus is a Client Operations Associate, Morgan Quaintance is a Client Experience Associate and Sommer Stephens is a Senior Accountant. ↗

PFA Solutions has welcomed Mo Coley to its client success team. Coley is a Client Delivery Consultant who was previously at DealCloud. ↗

Thomas Biddle is a new FS Team Lead - EMEA Product Specialists at AlphaSense. Biddle will help develop and expand the PS Org and will continue to work closely with Product and Revenue partners to drive growth for the company. Biddle has been with AlphaSense for the past year and was previously at Schroders and EY. ↗

Northern Trust Asset Management names David Abner as Head of Global ETFs and Funds. Abner will oversee NTAM’s mutual fund and ETF product strategy, research and development, product management, and capital markets, as well as fund services oversight and treasury functions. NTAM’s mutual fund and ETF product strategy aims to anticipate and meet the investment needs of all clients. Before joining NTAM, Abner was Global Head of Business Development at Gemini Crypto Exchange. ↗

SS&C expands its Fund Administration Business in India with new GIFT City office. The International Financial Services Centres Authority has licensed SS&C GlobeOp to provide fund administration and compliance services to alternative investment funds and other funds domiciled in GIFT City. ↗

Amanuel Teshome is the new Senior Director, Institutional Sales at Forge. Before joining Forge, Teshome was the Vice President at Greenhill & Co., a private capital advisory firm. ↗

MergerMarket has welcomed Pooja Sarkar to the company. Sarkar joins MergerMarket with over a decade of experience as a financial journalist in India, specializing in financial investigations, private equity, mergers and acquisitions, and high finance. ↗

Moonfare has introduced Mike O'Sullivan, the company's new Chief Economist and Senior Advisor. O'Sullivan spent a large part of his career in investment management, most recently serving as CIO at Credit Suisse International Wealth Management division. ↗

IQ-EQ has announced the promotion of Andrew Frost to the role of Head of Sales for the United Kingdom. Frost brings to the role 18 years’ financial experience – 9 of which have been with IQ-EQ. ↗

VENDOR RESEARCH & WHITEPAPERS

DiligenceVault has a new blog, "Leveraging Gen AI For Asset Management Investor Relations And Capital Formation Teams". In this blog, Diligences Vault goes over what the gen AI tools are for Fundraising / Capital Formation Teams and what the gen AI tools are for Investor Relations and Client Service Team with an additional AI implementation checklist for Investor Relations and Fundraising Teams. ↗

Fundcount has a new blog, "Asking Your Vendor for a Proof of Concept or Proof of Value May Not be the Best Idea". Key takeaways from this blog include: traditional Proof of Concept and Proof of Value approaches have inherent flaws and limitations, and that there are alternative evaluation methods to mitigate these issues. ↗

AWARDS

The Winners of The Drawdown Awards 2024 have been announced.

Winners from our Vendor Profiles database include:

Entrilia - Accounting & Reporting Technology
Altvia - CRM & Deal Origination Technology
ATLAS by Holland Mountain - Data Technology
Novata - ESG Technology
Citco - Fund Administration: Over $500bn (total AUA)
Holland Mountain - Operations & Technology Adviser
Chronograph - Portfolio Monitoring & Risk Management Technology
Canoe - Technology Innovation

Congrats to all the winners!! ↗

FundGuard has been named Best Disruptive Solution in 2024 FTF News Technology Innovation Awards. This award category, decided by industry votes, is defined by FTF as “the solution that helps firms leap forward in their technology journeys rather than make incremental changes that maintain the status quo.” ↗