Category Archives: News

Dawn Capital and Insight Partners back Spain’s data startup Onum with a $28m Series A

Dawn

The startup will use the money to expand to the US

Zosia Wanat

2 min read

Madrid-based Onum has raised a $28m Series A led by Dawn Capital — just seven months after its launch. The startup, which helps companies manage and monitor big datasets, will use the money to expand globally, mostly to the US.

What does Onum do? 

Onum’s mission is to help companies isolate and observe valuable information within large datasets in real-time.

According to the company, only about 15% of a typical organisation’s data is business-critical, requiring immediate analysis. Since most businesses have no way of discerning the valuable information from the noise, however, many organisations send all of their data to analytics platforms for analysis, resulting in higher costs and longer processing times.

Onum gives the example of a large bank that’s trying to enhance its IT network security capabilities and meet strict compliance requirements. The startup says it allows the bank to focus exclusively on the data that matters, so they can more accurately and cost-effectively detect security threats based on warning signs in their data across their whole network.

Unlike some of its competitors, Onum says it doesn’t only reduce the amount of data that a client needs to process, but can also tailor the service to individual business needs, such as risk reduction, compliance, customer usage, and network efficiency.

The startup was cofounded in October 2023 by Lucas Varela, Pedro Tortosa and Pedro Castillo, the latter of whom also founded cloud analytics and security platform Devo, valued at more than $2bn. It says it’s already won several enterprise customers including major financial institutions, global consulting firms and large telecommunications companies, mostly in Spain.

Where will the money go? 

Onum employs nearly 50 employees, and plans to use the fresh funding to accelerate product development and hire more people this year, opening a new office in Boston.

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Who has invested? 

  • Dawn Capital, London-based B2B software VC venture capital;
  • Kibo Ventures, Madrid-based VC;
  • Insight Partners, New York-based VC.

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Triton signs agreements to sell Norstat

Triton

Stockholm (Sweden) / Oslo (Norway), 10 April 2024 – The Triton Smaller Mid-Cap Fund I advised by Triton (“Triton”) has signed an agreement to sell Nemas Holdco AS (“Norstat” or “the company”), a leading data collector for market research, to Nalka Invest (“Nalka”), partnered with Kirk Kapital. Terms and conditions of the transaction are not disclosed. Closing is subject to customary regulatory approvals.

Since Norstat was acquired by Triton in 2019, it has been developed into a market-leading consumer data collection platform across Europe. Triton has, among other things, supported the company through strengthening its commercial capabilities, internationalising its business through acquisitions, improving its operations (including automation of processes), and adding new digital products and solutions such as Norstat Express and TestingTime. A total of seven strategic add-ons were completed by Norstat in Switzerland, Denmark, the Netherlands, Norway, and the UK from 2021 to 2023.

Today, Norstat serves more than 2,000 market research firms, private and public end-clients, media & advertising agencies, publishers, and consultancies across different industries. It delivers real data collected from real people across Europe that can be trusted to drive decision making.

Daniel Björklund, Investment Advisory Professional at Triton, said: “The team at Norstat have achieved great results and we are happy to conclude a very successful journey together. We have been able to drive significant growth, expanding Norstat’s offering and geographical reach, while continuously building on its strong commitment to quality and client service. We believe Nalka is the right partner to continue Norstat’s positive development and we wish them every success together.”

Erling Eriksen, CEO of Norstat, said: “Norstat and Triton have created and implemented a business strategy that has seen Norstat double in size the last years. Together we have built a bigger, stronger, and more professional company. During the years of Triton’s ownership, we have sought out new routes and opportunities; undertaken a rapid technological shift, launched several digital products and completed seven successful acquisitions and integrations. It’s been a great journey, made possible by fantastic employees dedicated to high-quality data and client service. In Nalka, we have found a new partner that is able to support us from the strong position we have achieved today, and we are very much looking forward to the co-operation”.

Martin Lagerblad, Managing Director, Nalka Invest said: “Norstat is truly a leading company within its market, that we have followed over time. We are impressed by the team and its position as the go-to provider of high-quality data and insights in Europe. The deal is pending regulatory approval, but we are looking forward to our future cooperation with Norstat and to contribute to the company’s development. We are also glad to partner with Kirk Kapital as a large minority shareholder, a strong partner sharing our values and long-term perspective on business development”.  

Norstat and Triton were advised by William Blair as lead financial advisor.

About Norstat
Norstat is one of the leading data collectors for market research and insight in Europe. We use well-grounded research methods to collect reliable data about any desired topic or target group. This information helps you to make the right decisions and become better in what you do. We don’t confine ourselves to a specific method of data collection – we do whatever works best: scientifically proven, fair to the respondents and sustainable for the industry.

The company was established in Norway in 1997 and has since grown its geographical presence to include Denmark, Sweden, Finland, Estonia, Latvia, Lithuania, Poland, Germany, the United Kingdom, France, Switzerland, the Netherlands, Austria and Italy.

For further information: www.norstat.co

About Triton 
Founded in 1997 and owned by its partners, Triton is a leading European mid-market sector-specialist investor. Triton focuses on investing in businesses that provide mission critical goods and services in its three core sectors of Business Services, Industrial Tech, and Healthcare.

Triton has over 200 investment professionals across 11 offices and invests through three complementary “All Weather” strategies: Mid-Market Private Equity, Smaller Mid-Cap Private Equity, and Opportunistic Credit.

For further information: www.triton-partners.com


About Nalka Invest
Nalka is an investment firm investing in market-leading small and medium-sized businesses based in the Nordic and DACH regions. Nalka has offices in Stockholm and Munich and develops independent, competitive, sustainable and long-term profitable companies, through commitment and cooperation.
Read more at www.nalka.com

Press Contacts

Triton

Fredrik Hazén

Phone: +46 709 483 810

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Apiary Capital exits TAG to ECI Partners

Apiary Capital

Apiary Capital exits award-winning travel firm TAG to ECI Partners, delivering a 4x return

Apiary to ECI

TAG is the leading travel management provider to the international live music and entertainment touring industry. Founded in 1988, TAG arranges complex travel itineraries for performing artists and supporting crews, and for major film and television productions, as well as servicing the high-touch segment of the corporate travel market.

Apiary Capital invested in TAG in April 2018 and has supported the management team in making eight successful acquisitions and expanding the business’s geographic footprint to 12 offices employing over 450 people across the UK and Aisa-Pacific.

Jens Penny, TAG CEO, commented: “Today is a fantastic milestone in our evolution, as we thank Mark, Jess, Nicki and all the team at Apiary for the unwavering help and support they have given us over the last six years and proudly announce the investment by ECI. With our entertainment and corporate clientele and the incredible TAG team, we are very confident that this partnership will deliver a host of new benefits and opportunities. We look forward to an exciting journey ahead with ECI as our partner.”

Mark Salter, Managing Partner at Apiary Capital, commented: “We are incredibly proud to have been part of the amazing journey that TAG has been on since our investment in 2018. Jens and his team have done a fantastic job expanding TAG into new geographies and markets, more than doubling the size of the business on the way. We are delighted to pass the baton on to ECI who are the right partner to take the business forward and support it through its next phase of growth.”

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Toyota Ventures Raises Another $300 Million to Expand Early-Stage Investments in Frontier Technology and Climate Solutions

Toyota Venture fund

Firm’s committed capital grows to over $800 million, underscoring Toyota’s commitment to investing in groundbreaking startups around the globe

LOS ALTOS, Calif. (April 10, 2024) – Toyota Ventures, the early-stage venture capital arm of Toyota, announced two $150 million funds to expand its investments in startups developing disruptive technologies and business models at the forefront of innovation. The addition of the new funds, Toyota Ventures Frontier Fund II (TVFF II) and Toyota Ventures Climate Fund II (TVCF II), brings the firm’s total assets under management to over $800 million.  

Since its founding in July 2017, Toyota Ventures has furthered its mission of helping Toyota discover what’s next by investing in more than 75 startups across areas ranging from artificial intelligence and robotics to hydrogen solutions and renewable energy. Toyota Ventures is based in the San Francisco Bay Area and has portfolio companies in North America, Europe, the Middle East, and Asia-Pacific. With these new funds, the firm can support more entrepreneurs around the world as they tackle tough challenges to build a better future for society and the planet.  

“At Toyota Ventures, we are explorers. Our role is to understand technology trends that could advance Toyota’s mobility transformation in the near term and embrace the next generation of disruptive innovation in the long term,” said Jim Adler, founder and general partner of Toyota Ventures. “At a time when some investors have scaled back, we’re scaling up by doubling down on our initial Frontier and Climate Funds. With seismic breakthroughs in generative AI, e-fuels, space commercialization, carbon capture, and synthetic biology, it’s a crucial time to be investing for Toyota.”  

TVFF II will focus on startups at the cutting edge of deep technology in areas like AI, robotics, mobility, cloud, and quantum computing, with an eye towards expanding Toyota Ventures’ international presence. The new fund will be led by Frontier Fund partner David Sokolic, a veteran investor and operating executive. Portfolio companies in the initial Frontier Fund include satellite servicing provider Starfish Space, biosensor maker Scentian Bio, and quantum computing software startup Haiqu, among others.  

TVCF II will seek out startups developing smart, scalable solutions that combat climate change and promote environmental sustainability. It will build on the firm’s inaugural climate-focused fund, which launched in 2021 and grew to a portfolio of 18 companies under the leadership of Climate Fund partner Lisa Coca. The first Climate Fund portfolio includes companies in renewable energy like Avalanche Energy; energy storage and batteries like e-Zinc and AM Batteries; carbon capture, removal and utilization like Air Company and Living Carbon; hydrogen solutions like Ecolectro; and other areas aligned with Toyota’s carbon neutrality goals.  

“Innovation is a team sport, and today, more than ever, it’s important for leaders like Toyota to collaborate with up-and-coming startups to take on the critical challenges we all face in a rapidly evolving world,” said Gill Pratt, chief scientist of Toyota Motor Corporation, CEO of TRI, and board member at Toyota Ventures. “These new funds underscore our dedication to supporting entrepreneurs who are pushing the boundaries of what’s possible, and I’m thrilled to continue this journey alongside the Toyota Ventures team and portfolio.”  

Going beyond capital, Toyota Ventures aims to leverage Toyota’s global network, deep technical expertise, and strategic partnerships to assist startups in its portfolio. It has a portfolio support team dedicated to providing guidance in product and business development, fundraising, marketing, and other areas to help companies scale effectively. Some of the firm’s early portfolio companies that continue to partner with Toyota include aerial ridesharing pioneer Joby Aviation and autonomous vehicle leader May Mobility.  

Entrepreneurs seeking early-stage funding are invited to learn more and submit an online pitch at the Toyota Ventures website.  

Supporting quotes and testimonials  

“The team at Toyota Ventures has been instrumental in our growth, having gone above and beyond by not simply offering capital support but also their mentorship in navigating various challenges and paving pathways into Toyota as an early customer,” said Dor Skuler, co-founder and CEO of Intuition Robotics.  

“Toyota Ventures has been a committed strategic partner to Revel since 2018, working with us hand-in-hand as we expanded our business into all-electric rideshare and public fast charging infrastructure in dense cities like New York,” said Frank Reig, co-founder and CEO of Revel. “Beyond financial investments, Toyota Ventures has been essential in creating new relationships to support and develop our mission — the best kind of partner a founder can ask for.” 

“The Toyota Ventures team had a deep level of understanding and appreciation of the technical aspects around the large problems we are solving in the green hydrogen space,” said Gabriel G. Rodríguez-Calero, co-founder and CEO of Ecolectro. “On top of this, the level of guidance we received was well beyond the technical aspects of our business, and it has created enormous value for Ecolectro. Toyota Ventures’ unique approach and engagement shows the holistic support they provide around our whole business beyond just capital.”  

“AM Batteries has experienced significant growth over the past year, thanks in no small part to the invaluable support from Toyota Ventures, “ said Lie Shi, CEO of AM Batteries. “In the time we’ve been working together with Lisa Coca and her team, it has become clear that Toyota Ventures possesses a deep understanding of how corporate venture capital can effectively cultivate successful alliances with startups. Their insight, financial backing, and partnership have been pivotal as we chart the course for AM Batteries’ future endeavors.”

About Toyota Ventures
Toyota Ventures is the early-stage venture capital arm of Toyota. Founded in July 2017, its mission is to discover what’s next for Toyota by helping startups bring disruptive technologies and business models to market quickly. With more than $800 million in assets under management, the firm is dedicated to investing in talented entrepreneurs around the world who are driving innovation in frontier technologies and climate solutions. For more information about Toyota Ventures and its portfolio companies, please visit www.toyota.ventures.

Media Contacts

Maggie Mouat
maggie@toyota.ventures

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Ascend acquires GMP manufacturing capacity in Alachua, Florida from Beacon Therapeutics

Abingworth

London, United Kingdom, 9 April 2024 – Ascend Advanced Therapies (Ascend), an end-to-end gene therapy development partner, has acquired the Chemistry, Manufacturing and Controls (CMC) team and site in Alachua, Florida from Beacon Therapeutics (Beacon). The transaction brings an operational good manufacturing practice (GMP) facility, process and analytical development capabilities, and additional experts to the Ascend team. It also includes a long-term partnership with Beacon to continue manufacturing its products for clinical and commercial use, securing product supply for Beacon, and enabling it to focus on clinical development.

“Ascend was founded with a unique science and technology-driven strategy. As we continue building the most flexible adeno-associated virus (AAV) platform across serotypes on the market, we also understand the critical value of our experienced employees,” Mike Stella, CEO at Ascend offered. “This acquisition allows us to now support customers from research through to commercialization and adds to one of the most experienced gene therapy teams in the market. Every day we are working together to grow the company with a long-term mindset of quality first to appropriately balance quality and yield for the life of each product.”

“We are excited to enter this strategic arrangement with Ascend to advance our sight saving therapies toward approval. This alignment is critical to securing GMP drug product supply for our late-stage clinical asset AGTC-501 for the treatment of X-Linked Retinitis Pigmentosa,” David Fellows, CEO at Beacon Therapeutics continued. “The Ascend team brings significant experience in gene therapy manufacturing and a strong commitment to building capabilities to support future Beacon pipeline programs.”

The Beacon Therapeutics portfolio currently includes three ocular gene therapy products utilizing AAV to deliver gene constructs that address retinal disorders. The proteins expressed from the transduced constructs compensate for deficiencies in the patient cells, or otherwise intervene in pathological processes, potentially restoring vision or preventing disease progression.

Alachua is a leading biotech hub in Florida and continues to attract investments in advanced therapeutic programs. The facility is highly synergistic to a growing global network of Ascend sites that has been built via critical acquisitions. From early-stage R&D at the San Francisco Bay Area site, to process development, optimisation and forthcoming GMP QC release capabilities at the Munich, Germany site and now the GMP facility in Alachua Florida, Ascend has the combined network and product experience to deliver total support for clients at all stages of development.

The transaction was closed on 1st April 2024, and integration efforts began immediately. To learn more about Beacon Therapeutics, please visit: https://www.beacontx.com/. To learn more about Ascend, please visit: www.ascend-adv.com or email business@ascend-adv.com.

About Ascend

Ascend Advanced Therapies (Ascend) is a specialist adeno-associated virus (AAV) development partner working to bring next-generation gene therapy products to market. Using an acqui-building approach, Ascend hit the ground running in 2023 with operational facilities globally, and a team of experts that offer unparalleled insight and collaboration when delivering products from the bench through to commercialization. The flexible platform supports all AAV serotypes across scales with proprietary and partnered technologies and a world-class analytical toolkit. The team continuously aims higher for the long run when collaborating with partners to balance yield and quality of accessible life-saving therapies. Learn more at www.ascend-adv.com.

About Beacon Therapeutics

Beacon Therapeutics is an ophthalmic gene therapy company founded in 2023 to save and restore the vision of patients with a range of prevalent and rare retinal diseases that result in blindness. Beacon has an established scientific foundation that combines a late-stage development candidate to treat X-linked retinitis pigmentosa (XLRP), as well as two preclinical programs, one targeting dry age-related macular degeneration (AMD) and another targeting cone-rod dystrophy (CRD), an inherited retinal disease. The Company is supported by funds from Syncona and additional investors including Oxford Science Enterprises. To learn more, please visit www.beacontx.com.

For media inquiries, please contact:Media team: media@ascend-adv.com

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Verdane partners with global regulatory software leader Corlytics

Verdane Capital
  • Verdane has made a majority investment in Corlytics, the global leader in regulatory intelligence, content and automated policy compliance and attestation, following a process managed by investment bank Baird  
  • This partnership will enable Corlytics to cement global category leadership, accelerating organic growth and M&A 
  • Corlytics growth will build on their strong client base which includes 40% of the top 30 Systematically Important Financial Institutions (SIFI)  

John Byrne, Corlytics’ founder and CEO, commented, “Corlytics has successfully progressed in developing new products to further improve our value proposition to Tier 1e clients globally. This investment from Verdane ensures the continued growing market leadership for Corlytics. We look forward to partnering with the Verdane team and with their experience and expertise, we expect to accelerate organic growth and augment that with M&A activity. As well as investing significantly in our ‘intelligent content’ offering, combining data, software and AI, we will continue to lead the RegTech sector consolidation with more complementary acquisitions, following our recent transactions with Clausematch and ING SparQ.”  

Nils Vold, Partner at Verdane, commented, “Verdane is delighted to back John and his impressive team at Corlytics. This is a centrepiece majority investment from our newly raised €1.1 billion Edda III Fund and we are thrilled that John and Corlytics chose to partner with Verdane against very strong market interest in the business. We are an active and experienced investor in the RegTech sector and we identified Corlytics as the global category leader in its field, helping banks and financial services companies manage their compliance obligations in a complex and fast-changing environment.”   

Sebastian Wintgens, Principal at Verdane, added, “We are excited to partner with Corlytics and look forward to leveraging our expertise in helping European software leaders to grow, both organically and through strategic acquisitions, as well as bringing our international industry networks to help Corlytics continue to thrive and succeed as it expands globally.”  

 

As part of the Verdane investment and partnership, Corlytics is pleased to announce an expansion of its board of directors, adding further expertise to support the company’s growth plans.   

Simon Russell joins Corlytics as Chair. He has almost 30 years of software advisory expertise. Over the last 15 years, Simon led technology investment banking at firms including Nomura and Dresdner Kleinwort and he served on banking management committees. He now works as a Chair and Non-Executive Director at various international software companies.  

Simon Russell, new Chair at Corlytics, said, “I have long admired Corlytics as a real RegTech industry leader. I am delighted to be partnering with John and Verdane to create value through an active acquisition agenda, plus providing Corlytics with wider support on delivering its ambitious growth plans.”  

Trintech founder Cyril McGuire will continue to serve on the Corlytics board as a Non-Executive Director and his Infinity Capital Fund has also invested for a minority equity stake in the company.  

The terms of the transaction have not been disclosed.   

Advisors  

For Corlytics: Baird (financial advisor), Dentons (legal counsel), Liberty (management advice), BDO (financial and tax DD)  

For Verdane: Trinity Square (strategic advisor), Burness Paull (legal counsel), McKinsey (commercial due diligence), Deloitte (financial and tax due diligence), PwC (structuring)  

 

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Purple Digital Storytelling Announces Strategic Acquisition of PLANWORX AG

Holland Capital

Amsterdam, Munich,  April 9, 2024 – In a strategic move to transform the landscape of digital experiences, Purple Digital Storytelling (‘Purple’) announces the acquisition of the Munich based agency PLANWORX, thereby initiating The Storytelling Group. This acquisition marks a turning point in the digital storytelling space, offering an expanded portfolio of services that range from the creation of permanent installations to dynamic event-based storytelling.

The Digital Storytelling Universe
Purple, known for designing and delivering world class experience centers powered by their digital storytelling software ‘Hyro’, and PLANWORX, celebrated for their cutting-edge event experiences will jointly deliver unparalleled digital and live experiences, catering to a wide range of global brands and audiences.

The acquisition aims to benefit from the collective expertise of both companies while maintaining their unique identities and strengths. Purple’s design and technological abilities and PLANWORX’s dynamic approach to live marketing and events are expected to create synergistic outcomes, driving innovation, and expanding the industry of digital storytelling.

Joost Rueck, CEO of Purple and Chairman of the Storytelling Group, expressed enthusiasm about the new direction, “This acquisition is a game changer for us. Looking at this from a market perspective, it allows us to serve our customers better because of our increased reach and offerings. It’s a stepping stone to being a global player in digital brand experience solutions.”

Chris Boehm-Tettelbach, founder of PLANWORX: “Joining forces will allow us to establish a full-spectrum storytelling powerhouse capable of addressing every aspect of digital brand experiences from concept to execution. Using the latest technology we bring these narratives to life – in physical spaces, live events or online.”

Ewout Prins, Managing Partner Holland Capital, “The acquisition of PLANWORX is a significant step for Purple in becoming a true global player in digital and immersive experiences. We are happy that we have been able to support this cross-border transaction from our offices in The Netherlands and Germany. We look forward to supporting the team in their growth ambitions and will continue to keep an eye on the market for additional strategic acquisitions”.

Clients of Purple and PLANWORX can look forward to increased capacity, creativity, and services, enhanced by the shared knowledge, technology, and creative drive of both teams. This collaboration is expected to set new benchmarks in the industry, establishing The Storytelling Group’s commitment to be at the forefront of digital storytelling innovation.

About Purple Digital Storytelling

Founded in 2011, Purple Digital Storytelling, based in the Netherlands, specializes in capturing audience’s attention through innovative digital narratives and immersive experiences. Leveraging their Hyro storytelling software, they offer a full suite of services from strategy and design to content production, tailoring each project to its unique client’s and their specific needs. https://www.purplestorytelling.com/

About PLANWORX

PLANWORX, founded in 1987, is a digital creative agency celebrated for their cutting-edge event experiences. By using the latest technology, they bring these narratives to life – in physical spaces, at live events or online. PLANWORX sees itself as an enabler, digital pioneer, and creative catalyst for global corporations as well as medium-sized companies, bridging the communication gap between businesses, employees, and end customers. With a team of 50 people, PLANWORX operates from Munich. https://planworx.de/en/

About The Storytelling Group

The Storytelling Group is home to Purple Digital Storytelling and PLANWORX. With a focus on creating engaging narratives through digital experiences in physical spaces, The Storytelling Group is dedicated to pushing the boundaries of storytelling, serving a roster of renowned global brands, and setting new industry standards. https://thestorytellinggroup.com/

About Holland Capital

Holland Capital has been responsibly and successfully investing in promising Dutch and German SMEs with growth ambitions for over 40 years. The team understands entrepreneurship and fosters an open, sustainable, and professional relationship with the management teams of the invested companies, aiming for mutual growth. With offices in Amsterdam and Düsseldorf, Holland Capital focuses on Healthcare, Technology, and the recently added Agrifood-Tech sector. The firm actively supports Purple Digital Storytelling in both operational and strategic development since becoming a shareholder in December 2020.

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Scape Australia closes third PBSA Development JV at AUD1.0bn alongside APG and Ivanhoé Cambridge

Cdpq

Scape Australia has formed a partnership with Dutch pension investor APG Asset Management N.V. (‘APG’) and Ivanhoé Cambridge, a global real estate investor, to develop Purpose-Built-Student Accommodation (‘PBSA’) assets in Australia’s thriving student housing sector.

The new joint venture, which is subject to regulatory approval, is the third in a series of development JV vehicles (previous JV ventures were established in 2015 and 2018). It will continue Scape’s strategic focus on urban locations close to Australia’s world class Universities, whilst incorporating the next level of design from Scape’s in-house development, design and operational teams. The venture will leverage the significant operational scale (17,200 operational apartments) and an internal team that already manages Australia’s largest privately owned residential-for-rent portfolio.

For more details, read the complete news release on Ivanhoé Cambridge’s website.

– 30 –

For more information

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Trellix Collaborates with Google Cloud to Protect Enterprises and Governments

Stg Partners

Trellix, the cybersecurity company delivering the future of extended detection and response (XDR), today announced new collaborations with Google Cloud to simplify customer access to security protections in the cloud. In addition to achieving Google Cloud Partner Advantage Build authorizations for both Google Cloud and Google Workspace, Trellix has joined Google Cloud Ready – Distributed Cloud initiative. Through both, Google Cloud customers are equipped with open, interoperable security solutions from Trellix.

Trellix and Google Distributed Cloud

Google Distributed Cloud’s air-gapped option meets rigorous regulatory, durability, and availability standards for customers requiring air-gapped systems with no connectivity to Google Cloud or the public internet. Trellix is working towards making Trellix Endpoint Security available to Google Cloud customers seeking on-premises protections through the new Google Cloud Ready – Distributed Cloud initiative.

“Joining the Google Distributed Cloud initiative represents a pivotal milestone in safeguarding heavily regulated sectors and securing our customers where they operate,” said John Morgan, XDR General Manager at Trellix. “For customers seeking the security benefits of on-premises infrastructure while leveraging Google Cloud’s state-of-the-art cloud technology, Trellix stands ready to ensure comprehensive protection.”

MORE AT TRELLIX.COM

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EQT to sell Rimes, a global leader in enterprise data management solutions for the investment industry, to Five Arrows

eqt
  • EQT, together with its co-shareholders, to sell Rimes to Five Arrows
  • During EQT’s ownership, Rimes has successfully transformed from a specialist vendor of Benchmark and Index (B&I) data solutions to a provider of full-spectrum Enterprise Data Management as a Service (EDMaaS) and Investment Management Platform offerings to the global investment industry
  • Today, Rimes serves 60 of the world’s top 100 asset managers, as well as the 10 largest asset servicers in the world

EQT is pleased to announce that EQT Mid Market Europe (“EQT”), together with its co-shareholders, has agreed to sell Rimes (“Rimes” or the “Company”) to the Five Arrows Long Term Fund and Five Arrows Principal Investments (together “Five Arrows”). Five Arrows is the alternative assets arm of Rothschild & Co.

Founded in 1996, Rimes is a trusted partner to the world’s largest asset managers and asset owners, with its customers representing more than USD 75 trillion global assets under management. The Company helps its clients solve complex data problems, applying capabilities refined over 25 years, including an ecosystem of more than 800 data partners and deep domain expertise in investment data. Powered by its proprietary, multi-tenant cloud technology platform, Rimes’ data management solutions empower its clients to make better investment decisions using reliable data, while improving cost efficiency, and reducing operational risk.

Since EQT’s initial investment in 2020, it has supported Rimes in accelerating its growth and deepening its client relationships by expanding its market-leading B&I solutions to cover full-spectrum EDMaaS. In October 2021, Rimes further complemented its product offering with the acquisition of Matrix IDM, which added a powerful Investment Management Platform and data distribution and warehousing solutions. Today, Rimes is well-positioned to facilitate its customers’ strategic operating model transformations and to power AI-led investment strategies.

Robert Maclean, Partner within EQT Private Equity’s Advisory Team, said, “We were delighted when co-founder Christian Fauvelais chose to partner with EQT to pursue our shared vision of transforming Rimes into a global leader in EDMaaS solutions for the investment industry. It has been a pleasure working alongside management and the entire Rimes team to accelerate the Company’s growth.” Patrick McBride, Director within EQT Private Equity’s Advisory Team, added, “We believe Rimes has an incredibly bright outlook and is well-positioned to continue to deliver for its clients. We are grateful to have had the opportunity to partner with such an innovative and talented team, and we are confident that they will continue their successful growth with the support of Five Arrows.”

Brad Hunt, CEO of Rimes, “Rimes has been on a significant growth trajectory over the last few years, and I am proud of what the team has achieved by combining the customer-centric ethos and deep domain expertise that has differentiated us since 1996. Today, the firm’s most modern technology underpins an innovative, comprehensive product offering designed to address future investment data challenges. This transformation would not have been possible without the support of EQT and our Board, and we thank them for a productive and highly successful partnership. We look forward to joining forces with Five Arrows and building upon our strong momentum.”

Seif Khoufi and Constantin Sabet d’Acre, Managing Director and Director of the Five Arrows Long Term Fund, said “The Rimes team impressed us with their ambitious vision and their strong track-record of growing and scaling Rimes in a deeply customer-centric way. This is evidenced by industry-leading levels of customer satisfaction, and a history of solving a growing share of pain points for customers through continuous innovation. We are confident that Rimes is uniquely positioned to continue to support its customers’ expanding needs.” Vivek Kumar and Sacha Oshry, both Partners at Five Arrows Principal Investments, added, “We are delighted to be partnering with Brad and the team to unlock the next chapter of Rimes’ growth. We share in Rimes’ strategic vision centered around solving financial institutions’ most complex data problems across geographies, asset classes and customer types. We are thrilled to have the opportunity to support Rimes.”

The transaction is subject to customary regulatory approvals and is expected to close in the coming months.

EQT and Rimes were advised by Evercore (corporate finance) and Latham and Watkins (legal). Five Arrows was advised by Jefferies (corporate finance) and Shoosmiths (legal).

Contact
EQT Press Office, press@eqtpartners.com

About EQT
EQT is a purpose-driven global investment organization with EUR 232 billion in total assets under management (EUR 130 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, X, YouTube and Instagram

About Rimes
Rimes provides transformative Enterprise Data Management and Investment Management Platform solutions to the global investment community. Rimes is a trusted partner to the industry’s most sophisticated asset managers and asset owners, with its customers representing more than USD 75 trillion of global assets under management. Rimes helps its clients solve their most complex data problems, leveraging capabilities refined over 25 years including an unparalleled data partner ecosystem and deep domain expertise in investment data. Powered by its proprietary, multi-tenant cloud technology platform, Rimes’ data management solutions empower its clients to make better investment decisions using reliable data, while improving cost efficiency and reducing operational risk.

More info: www.rimes.com

About Five Arrows 
Five Arrows is the alternative assets arm of Rothschild & Co and has EUR 26 billion AuM with offices in Paris, London, New York, Los Angeles, San Francisco and Luxembourg. With over EUR 9 billion of assets under management, the corporate private equity business of Five Arrows is focused on investing in companies with highly defensible market positions; strong management teams; business models with high visibility of organic unit volume growth and strong unit economics; and multiple operational levers that can be used to unlock latent value. Sectors are limited to data and software, technology‑enabled business services and healthcare.

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