Asset Class is working to create a completely integrated, end-to-end investment management platform for clients across financial sectors.
Dublin-headquartered fintech Asset Class has secured $11.6m in a Series A round to boost its software and business development capabilities.
The funding round was led by fintech-focused venture capital firm Canapi Ventures, with participation from LiveOak Ventures, Plexus Capital and Total Technology Ventures.
Asset Class, which was founded in 2020, provides software to clients across financial sectors including private equity venture capital, financial advisory and commercial lending. The Dublin-based company also has offices in New York, Atlanta and London.
The start-up said it has achieved “impressive growth” since it announced a $3m seed round last year, as businesses have turned to Asset Class to manage the end-to-end investor lifecycle.
“As we’ve grown, we like to say that the venture capital, private equity and commercial lending firms we work with come for the technology we provide and stay for the network we offer,” said Asset Class CEO Ferdinand Roberts.
“Our client-first approach has led us to achieve incredible growth, and this new round of funding will only propel us further on our mission to offer a completely integrated, end-to-end investment management platform in the alternatives space.”
Asset Class now services more than 300 funds, totalling $33bn in assets under management, across a network of more than 15,000 accredited investors.
The company now seeks to expand its employee headcount, specifically in the areas of software and business development.
Asset Class said it intends to capitalise on the “positive tailwinds” impacting the industry, such as growth in the number of private capital funds seeking access to alternative fund strategies.
“We have been extremely impressed with the growth of Asset Class over the past year,” said Canapi Ventures general partner Neil Underwood.
“The company’s unrivalled ability to bring secondary market liquidity to the private capital markets and provide fund managers with better investor oversight has positioned the company at the forefront of the industry, opening up many exciting opportunities for the future,” Underwood added.
10 things you need to know direct to your inbox every weekday. Sign up for the Daily Brief, Silicon Republic’s digest of essential sci-tech news.