Tag Archives: Information technology

Ciphr acquires employee benefits platform Avantus

ECI

ECI-backed Ciphr has moved into the employee benefits business, with the acquisition of Avantus.

Avantus, founded in 2005, serves over 400 businesses globally through its intuitive, and fully customisable, employee benefits and rewards platform, FlexGenius, and its popular, white-labelled solution MyWorkPal.

This is the third acquisition since ECI’s investment for Ciphr, having bought Marshalls (now Ciphr eLearning) in April 2023 and Shape Payroll in June this year, and builds on Ciphr’s strategy to acquire UK businesses that complement its core HCM offering. It’s also its largest acquisition to date – significantly expanding Ciphr’s customer proposition to include employee benefits and wellbeing for the first time.

Avantus’ robust platform enables employers to deliver unlimited, personalised benefits choices to multi-generational workforces with diverse needs and differing expectations and priorities. It can help strengthen organisations’ Employee Value Proposition, support their talent retention, recruitment and recognition strategies, and streamline the admin process for HR. And it empowers employees to manage and see the value of their eligible core and voluntary benefits, such as salary sacrifice, medical and dental cover, retail discounts, pensions, and financial protection, in one central, easy-to-use, portal.

Philip Curtis, Avantus’ co-founder and CEO, and his 30-strong team will also join Ciphr Group from today.

 

This is an exciting acquisition for Ciphr, and we’re delighted to welcome Philip and the Avantus team to the group. Avantus has a great reputation across the benefits and rewards industry for creating functionality-rich, people-centric technology that aims to make our working lives better.

This acquisition will truly enhance Ciphr’s HCM proposition and is an important step on our growth journey to becoming one of the UK’s top technology companies – providing cutting-edge HR, payroll, learning, recruitment and benefits software and services. One that not only serves its core market – UK-based, medium-sized organisations – but also is the provider of choice for companies based overseas looking to expand into Europe and the UK. Together, Ciphr and Avantus will be able to deliver an even better experience, and even better technologies, for our customers and their people.”

Sion Lewis

CEO, Ciphr

We are absolutely delighted that Avantus has become part of the Ciphr Group. With 20 years of experience behind us, our priority was to partner with an organisation that believes in, and shares, our customer-first ethos, and is committed to supporting us in our mission to deliver the very best in employee benefits technology. We are really excited about the opportunities that lie ahead, and are very much looking forward to working together with the Ciphr team to continue our growth journey.”

Philip Curtis

CEO, Avantus

Benefits has long been a focus for our M&A strategy, and we’re delighted to bring Avantus, a high-quality and fast-growth business, into Ciphr. Employee benefits is a rapidly growing market as employers seek to improve their value proposition and retain top talent in a competitive labour market. We’re looking forward to welcoming Philip Curtis and the rest of the Avantus team into the Ciphr group and continuing to work with Sion Lewis and the wider Ciphr team as they offer an even better service to HR teams across the UK.”

Stephen Roberts

Partner, ECI

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3i-backed Evernex continues its international growth with acquisition of Ultra Support

3I

3i Group plc (“3i”) announces that Evernex, a global leader in third-party maintenance (“TPM”) services for data centre infrastructure, has acquired Ultra Support, a leading UK-based TPM provider.

Ultra Support is a pure provider of third-party maintenance for data centres, servers and networking equipment. It is solely focused on channel sales through large IT service providers, reaching a user base of more than 1,100 end customers. The company combines expert technical and delivery capabilities with granular geographic coverage of the UK.

The acquisition marks the seventh since 3i’s investment in Evernex in October 2019. It sees Evernex reinforce its position in the UK, a strategic geographic expansion market due its size – the second-largest TPM market in Europe – as well as its rapid growth and the presence of international customers.

Evernex and Ultra Support have a track record of working together as commercial partners and combining the two groups is highly complementary. It will provide opportunities to deliver additional commercial synergies, building on the common values and culture between the two groups. The ongoing leadership of Ultra Support’s core team will maintain the same commitment to customer service and high standards that its partners expect and, as part of Evernex, Ultra Support will be able to leverage its expertise on a global basis.

Peter Hodgson, CEO and Co-Founder, Ultra Support, said: “Joining forces with Evernex represents an exciting opportunity for Ultra Support, our partners, and our team. Evernex’s global presence and comprehensive service offerings allow us to better meet the needs of our partners, both locally and internationally. Importantly, our commitment to a channel-only model ensures that it remains business as usual for our partners. Together, we are well-positioned to enhance the service experience for our partners and provide a wider range of solutions for data centre third-party maintenance.”

Stanislas Pilot, CEO, Evernex, said: “We are thrilled to welcome Ultra Support into the Evernex family. Their expertise in enterprise IT hardware maintenance and their strong channel relationships align perfectly with our mission to deliver reliable, flexible, and scalable IT solutions worldwide. A key element of this partnership is retaining the talented team at Ultra Support, who have been instrumental in the company’s success. This has always been our approach in M&A transactions, as we value and rely on local expertise to ensure seamless integration and growth.”

Marc Ohayon, Partner and Co-Head of France Private Equity, 3i, said: “With Ultra Support, Evernex gains an expert player in the UK TPM market, the second-biggest TPM market in Europe. Ultra Support’s expertise and quality of service make it an ideal partner. Since the beginning, our strategy has been to grow Evernex into an integrated global TPM provider, and this acquisition is another great step on that journey.”

-ENDS-

Download this press release   

For further information, contact:

3i Group plc

Kathryn van der Kroft
Media enquiries

Silvia Santoro
Shareholder enquiries

  

Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com

Tel: +44 20 7975 3258
Email: silvia.santoro@3i.com

Notes to editors:

About 3i Group

3i is a leading international investment manager focused on mid-market Private Equity and Infrastructure. Its core investment markets are northern Europe and North America.

For further information, please visit: www.3i.com

About Evernex

Evernex is a leading third-party maintenance provider that specialises in the support of data centre infrastructure, helping to extend the lifespan of IT hardware, minimise system failures, and repair functional equipment. Additional solutions include spare parts management, recycling, secure data disposal, data centre removal and relocation, library repair, IT hardware rental, and financing solutions.

With a global footprint across 165+ countries, 500,000+ IT infrastructure systems maintained, readily available spare parts in over 340 forward-stocking locations, 24/7 technical support, and multi-vendor expertise, Evernex is a dependable partner and a convenient single point of contact for IT departments across industries.

For further information, please visit: www.evernex.com

About Ultra Support

Ultra Support is a UK-based third-party provider of data centre maintenance and project services headquartered in Melksham, Wiltshire. Ultra Support has built a strong reputation within the IT services industry, specialising in responsive, reliable support for mission-critical IT assets. With a large network of forward-stocking locations across the UK, Ultra Support’s dedicated professionals support tens of thousands of IT assets, ensuring high levels of service.

The company holds ISO27001, ISO9001, and ISO14001 certifications, demonstrating its commitment to quality, data security, and environmental responsibility.

For further information, please visit: www.ultrasupport.co.uk

 

Regulatory information
This transaction involved a recommendation of 3i Investments plc, advised by 3i France.

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Linkup raises €3 million to offer a new gateway to the “Internet of AIs”

Seedcamp

AI is fundamentally changing the nature of the Internet and its traditional business models. Developing an ethical, sustainable and efficient ecosystem for the web of AI agents is a priority.

We are excited to partner with Linkup, a French startup on a mission to build new pathways for AIs to access the web efficiently and fairly. Founded in 2024 by Philippe Mizrahi, Denis Charrier, and Boris Toledano – who bring together experience from Spotify, Lyft, and McKinsey, Linkup is an internet search and access engine designed for artificial intelligence.

With its proprietary API, Linkup enables AI companies of all sizes to benefit from fast and ethical access to online content through partnerships with a wide range of premium content sources.

Philippe Mizrahi, co-founder and CEO of Linkup, explains:

“The Internet was designed to facilitate information access for humans. Soon, AI agents will do this on our behalf. It is therefore essential to rethink the web to enable efficient browsing for these agents and to promote the emergence of a new business model. At Linkup, we put ethics at the heart of our technology, convinced that the future of AI agents lies in a sustainable ecosystem where content providers, who are vital to the richness of the internet, are fairly compensated.”

On why we partnered with Linkup, our Partner Sia Houchangnia comments:

“AI tools have unprecedented potential to transform industries, and their power increases exponentially when connected to vast, relevant data sources. With the rise of AI agents, we have a unique opportunity to rethink our digital infrastructure for a world that demands a fairer and more sustainable approach to content access, an area that has long needed change. This is where Linkup comes in. As a pioneer of a new ethical model for tomorrow’s web traffic, Linkup is setting a new standard where deep analysis and powerful applications go hand in hand with fairness.”

We are excited to partner with Linkup from day one and lead its €3 million funding round, joined by Axeleo Capital, Motier Ventures, Kima Ventures, as well as a hundred business angels from the tech and media industries.

With the new funding, Linkup plans to:

  • Develop its proprietary models and capabilities;
  • Deploy its solution on a larger scale with suitable infrastructure;
  • Continue to build partnerships with content publishers and data providers.
  • Strengthen its technical team, particularly for Machine Learning and Software Engineering positions.

In October 2024, Linkup was selected for the Microsoft GenAI Studio, with support from Microsoft, Nvidia, Github, Mistral AI, and Cellenza. Moreover, the company is already supported by strong partnerships in Asia and the United States and plans to accelerate its deployment across the USA in the upcoming months.

For more information, visit linkup.so.

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Nordic Capital to acquire Anaqua, a leading global Intellectual Property Management solutions provider

Nordic Capital

Nordic Capital has entered into exclusive negotiations regarding the acquisition of a controlling interest in Anaqua from its existing shareholders led by Astorg

• A strategic investment focused on driving the continued growth of one of the world’s leading Intellectual Property Management software platforms, serving the largest and most innovative organisations

Nordic Capital, an experienced private equity investor in Technology & Payments globally, has entered into exclusive negotiations regarding the acquisition of Anaqua from Astorg. Anaqua is a leading provider of innovation and intellectual property (IP) management technology solutions and services, trusted by nearly half of the top 100 U.S patent holders, leading global brands, and numerous law firms worldwide. This acquisition would support Anaqua’s global expansion and strengthen its market position by continuing to invest in its best-in-class software platform and enhancing its operational capabilities.

Anaqua’s differentiated solution integrates best-practice workflows, data analytics, foreign filings, and patent and trademark renewal payments into a single, mission critical software platform. This platform offers a unique end-to-end value proposition to streamline operations, inform strategy and empower decision-making around customers’ valuable IP portfolios.

“Nordic Capital shares our vision of a software-led IP management platform, making them the ideal partner for our next phase of growth. Their deep sector experience, successful history of investing in software companies and vast global network would help us continue to transform the IP management industry,” commented Bob Romeo, CEO at Anaqua. “Nordic Capital would enable us to accelerate our global expansion, enhance our technology-driven solutions and drive operational excellence, all of which is for the ultimate benefit of our clients,” added Justin Crotty, COO at Anaqua.

Anaqua was founded in 2004 and is headquartered in Boston, Massachusetts with offices across the US, Europe and Asia. Today, driven by more than 800 employees globally, Anaqua has grown into a leader in IP SaaS solutions. Its scalable cloud platform helps thousands of blue-chip corporate and law firm clients, including Nvidia, Honda, and IBM, to elevate innovation and IP management from asset protection to strategic advantage.

“Nordic Capital has closely followed Anaqua’s impressive progress and would be pleased to invest in a leader in IP management and innovation technology. This partnership would align with our commitment to supporting companies that drive industry transformation and would fit perfectly with Nordic Capital’s technology investment strategy. We look forward to supporting Anaqua in its next phase of growth, helping them to expand their global footprint further and establishing the leading IP management platform for innovation-driven industries,” commented Fredrik Näslund, Partner and Head of Technology & Payments, at Nordic Capital Advisors.

Nordic Capital has over 20 years of experience accelerating the growth of innovative technology companies and would be set to leverage its deep sub-sector and operational knowledge to create value and boost Anaqua’s ambitious plans. It has made 33 technology investments in companies with an aggregate enterprise value of circa EUR 26 billion, including ArisGlobal, Inovalon, Macrobond, Regnology, Trustly and Zafin. Nordic Capital also has a long history of investing in partnerships with owners, founders and management.

In recent years, the global IP landscape has been significantly influenced by advancements in technology and the increasing importance of data-driven decision-making. Increasingly relevant trends in the space include the integration of artificial intelligence (AI) in IP management, the rise of big data analytics and the need for robust IP protection frameworks. Anaqua is at the forefront of these trends, offering a comprehensive platform to streamline IP operations and enhance strategic decision-making. By addressing the complexities of IP management with fully-integrated solutions, Anaqua is well-positioned to meet the evolving needs of companies worldwide and drive the future of the industry.

The financial terms of the transaction are confidential as agreed upon by all parties. Relevant staff representatives are being consulted as per applicable laws and, subject to approval from the relevant regulatory and antitrust authorities, closing could occur by Q1 2025. William Blair acted as financial advisor to Nordic Capital. Arma Partners and Jefferies acted as exclusive financial advisors and Latham & Watkins acted as legal advisor to Astorg and Anaqua on this transaction.

Media contacts:

Nordic Capital
Elin Ljung
Managing Director, Head of Communications & Sustainability
+46 70-866 10 40
elin.ljung@nordiccapital.com

US media contact – Brunswick Group
nordiccapitalus@brunswickgroup.com

Anaqua
Nancy Hegarty
VP Marketing
Tel: +1.617.375.2655
nhegarty@anaqua.com

About Anaqua
Anaqua, Inc. is a premium provider of integrated technology solutions and services for the management of intellectual property (IP). Anaqua’s AQX® and PATTSY WAVE® IP management solutions combine best practice workflows with big data analytics and technology-enabled services to create an intelligent environment that informs IP strategies, enables IP decisions and streamlines IP processes. Today, nearly half of the 100 largest U.S. patent applicants and global brands, as well as a growing number of law firms worldwide, use Anaqua’s solutions. Over two million IP executives, lawyers, paralegals, administrators and innovators use the platform for their IP management. The company is headquartered in Boston, with additional offices in the United States, Europe, Asia, and Australia. For more information, please visit anaqua.com or LinkedIn.

About Nordic Capital
Nordic Capital is a leading sector-specialist private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and Services & Industrial Tech. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested EUR 26 billion in close to 150 investments. The most recent entities are Nordic Capital XI with EUR 9.0 billion in committed capital and Nordic Capital Evolution with EUR 1.2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway, and South Korea. www.nordiccapital.com.

“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures, and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”.

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Prelude raises $8M to fix SMS and mobile onboarding

Seedcamp

Secure and cost-efficient identity verification is essential for business operations across consumer apps, fintech, and other industries. SMS and onboarding play an important role, yet incumbent solutions are prone to spam or added mark-up.

We are excited to partner up with Prelude, a Paris-based startup on a mission to help companies recover control over authentication costs and conversion rates.

Founders Matias Berny and Quentin Le Bras met while working for the consumer app Zenly, where they were in charge of implementing SMS verification. During their tenures, they were deeply entrenched in understanding the issues related to identity verification.

Using a set of unified APIs, Prelude is advancing SMS verification and mobile onboarding infrastructure through better fraud detection, elegant transparency, and increased conversion–all at a better price. The company’s  SOC 2 Type II compliant solution connects with 20+ international and local providers and automatically selects the best route to offer the best conversion to price ratio.

Matias Berny, founder and CEO of Prelude highlights:

“We’re determined to tackle SMS fraud at its core and use our experience to go beyond SMS verification. Onboarding conversion is one of the toughest challenges in driving growth, and that’s the problem we aim to solve for our customers. We’re building new services to help them master user onboarding, trust, and retention.”

In addition to SMS, Prelude supports other messaging services, such as WhatsApp and Viber. Prelude’s customers include consumer apps including BeReal and Locket, and fintech and crypto companies such as Alma, Sunday, and Bitstack. The company has verified the phone numbers for 100 million different user accounts.

Arnaud Lemaire, Sunday’s CTO says:

“Operating across Europe and North America with international customers, we needed a solution that could keep up with our global reach while maintaining competitive prices—our previous provider fell short. With Prelude, we’ve completely transformed our messaging strategy. Now, we send OTPs worldwide effortlessly, with full visibility into deliverability and conversion rates. Plus, their responsive support team is always ready to help, ensuring we stay on track. Prelude has truly helped us elevate our B2C engagement.”

On why we partnered with Prelude, our Venture Partner Devin Hunt comments:

“We are thrilled to support Matias and the entire Prelude team. They are leveraging years of experience building internal solutions to deliver the best verification service across any platform. What may appear to be a simple detail on the surface is, in reality, a highly complex product, both from an operational and security perspective. This not only improves the cost efficiency of message delivery but also enhances the overall security of the applications that rely on it.”

We are excited to be part of Prelude’s journey from Day One and co-lead their $8 million Seed round alongside Singular.

For more information, visit prelude.so.

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ECI invests in Insurance Insider to accelerate growth

ECI

ECI are delighted to announce our investment in Insurance Insider, a leading digital platform providing insight and analysis for the world’s top insurers, distributors, service providers and investors. Their service offering helps customers to uncover new business opportunities and protect against risks through its exclusive insights, deep analysis and data solutions.

ECI is partnering with Insurance Insider’s management team to leverage its unparalleled market position and deep expertise in the Property & Casualty (P&C) insurance industry to accelerate its growth strategy.

Insurance Insider was part of Delinian, which owns a portfolio of companies that provide data, insights, accreditation and events in select global markets. Delinian is focused on value creation and realisation across its portfolio through a three-part strategy of Invest, Grow and Divest. Delinian, formerly Euromoney Institutional Investor PLC, was acquired by Epiris in 2022.

A pioneer since 1996, the business has expanded significantly across and beyond the London (re)insurance market to become the leading market intelligence provider in the P&C and specialty (re)insurance markets.

Operating across three main products, it covers the global (re)insurance market that flows through London, the US P&C market and insurance-linked securities.

Insurance Insider has been at the forefront of the insurance industry for nearly 30 years, and we are now at an inflection point. We have found an ideal partner in ECI, who can help us realise our vision and ambition to become the go-to source of intelligence, insights and data to the global P&C industry. I am immensely excited for what is ahead of us and what we can achieve alongside ECI.” 

Mariana Valle

Managing Director, Insurance Insider

We are absolutely delighted to be partnering with Insurance Insider for the next stage of their growth. We have been thoroughly impressed by Mariana and her team, who have built a category market leader that is trusted by its clients to deliver depth of expertise and quality insights in the complex non-standard insurance industry. Insurance Insider’s customer retention demonstrates the value of those insights in a fast-moving sector, and there is a fantastic opportunity for the business to serve more customers and enhance its product offering, both in the UK and the US.”

Toby Fitzherbert

Investment Director, ECI

We are delighted that ECI Partners have recognised the exceptional growth of Insurance Insider, its position at the heart of the P&C insurance industry and its longer-term expansion opportunities. We look forward to watching the business fulfil its potential under new ownership.”

Andrew Pinder

Group CEO, Delinian

The deal is expected to complete before the end of 2024.

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Analysys Mason to acquire Germany-based PE consulting firm Telescope Advisory Partners

Bridgepoint

The transaction enhances Analysys Mason’s global market reach, commercial due diligence competencies and AI capabilities

Telescope Advisory Partners, a Munich and Frankfurt-based transaction support, value creation and innovation strategy consulting boutique specialising in commercial due diligence and strategy support, will join forces with Analysys Mason, the global technology, media and telecoms consultancy.

The transaction is supported by Analysys Mason’s existing investment partner Bridgepoint, which partnered with the company in 2022 via Bridgepoint Development Capital, a lower middle-market fund focused on supporting fast-growing businesses across Europe.

Telescope and Analysys Mason are recognised leaders in the transaction support sector, helping clients to make the best investment decisions at every stage of the deal lifecycle and accelerating value creation across the investment journey. Telescope’s sector experience and focus is on software, IT services and sustainable cities, while Analysys Mason has unparalleled expertise in digital infrastructure such as communication towers and data centres, ICT (information and communication technology) and IoT (Internet of Things).

This combination leverages the strengths of both companies, creating a comprehensive service offering for small, medium and large-cap private equity buy-out and infrastructure investors. The combined entity is set for growth and innovation, particularly in the field of artificial intelligence (AI), where both firms already support clients in navigating AI opportunities, enhancing business valuation and margins, and integrating AI into the investment cycle.

“We are thrilled to join forces with Telescope,” said Bram Moerman, CEO of Analysys Mason. “This acquisition represents a significant step forward in our mission to deliver unparalleled value to our clients and enhances our transaction support delivery capabilities in the DACH region. Our combined expertise in AI and the private equity markets will enable us to offer even more innovative solutions.”

Simon Fischer, co-Managing Partner at Telescope added, “We are looking forward to forming a global transaction and value creation advisory team unique to the private equity and technology sector. The combined resources and skills as well as a common set of values and ways of working will enable us to continue a strong growth trajectory whilst keeping our entrepreneurial spirit.”

Ludwig Preller, co-Managing Partner at Telescope commented, “This deal positions us perfectly to seize new growth opportunities especially in the field of technology advisory. After a decade of successful expansion in Germany and Europe, we are excited to extend our expertise to new markets globally, providing a ‘global local’ precision service focused on global Tech- and IT-Services transactions and to approach new segments of clients together.”

Jeannele M’bembath, Director at Bridgepoint added, “We are very excited to support Analysys Mason’s continued growth as they welcome Telescope into the fold. This partnership represents a powerful blend of expertise – particularly with respect to AI, due diligence and value creation solutions – that will bring even greater value to current and future clients in Europe and beyond.”

The acquisition is expected to be completed by the end of November, subject to customary closing conditions.

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Bridgepoint to join forces with Schuberg Philis, European leader in mission-critical IT

Bridgepoint
  • Bridgepoint to become new majority investor in Schuberg Philis, a fast-growing specialised managed IT service provider for mission-critical applications across large organisations.
  • Schuberg Philis has delivered CAGR of 17% over past 20 years, operating in an addressable market for specialist services valued at around €5 billion* and growing high double digit annually.
  • Partnership will fuel Schuberg Philis’ ambitious growth and innovation strategy across Europe, leveraging Bridgepoint’s expertise in tech-led businesses, global office network and deep industry contacts.

 

Bridgepoint, one of the world’s leading quoted private asset growth investors, has announced it will partner with Schuberg Philis, a Dutch-rooted IT company specialising in mission-critical IT services, cloud-native solutions, and digital transformation.

The transaction will see Bridgepoint Europe VII, a fund focused on investing in mid-market growth businesses, become Schuberg Philis’ new majority investor. Through the partnership with Bridgepoint, Schuberg Philis’ existing shareholders from both founder and management teams will retain significant stakes in the business.

Schuberg Philis will continue to operate based on its foundational principles, emphasising the unique Plan-Build-Run model, which ensures continuous alignment and accountability throughout every stage of customer projects. This approach underpins the company’s distinctive working philosophy, fostering collaboration and a shared mission among teams to address complex, mission-critical IT challenges.

Founded in 2003, Schuberg Philis has become a trusted partner for organisations needing reliable, secure IT solutions. With strong expertise in the fast-growing public cloud market, the company offers services across cloud, data & AI, software, and security. Schuberg Philis supports well-known companies such as Rabobank, ING, Heineken, Enexis, PostNL, NS, and Port of Rotterdam. Positioned for significant international growth, Schuberg Philis is ready to assist more enterprises with the next generation of digital transformation.

Led by its highly experienced co-founders, Schuberg Philis has historically delivered compound annual growth rates of 17% over the past two decades, 80% recurring revenues and an industry-leading Net Promoter Score (NPS) of 75, reflecting the strength of its reputation for excellence and long-term customer relationships with retention rates of over 95%. The firm operates in a fragmented Dutch addressable market, valued at around €5 billion* and marked by annual growth rates of high double digits.

With support from Bridgepoint, Schuberg Philis will expand its core business in The Netherlands, while expanding into the strategically important Nordic, DACH and UK regions, enabled via the depth of industry expertise and contacts across Bridgepoint’s office network. Further growth will be fuelled through selective M&A, reinforcing the company’s position as the market leader in its niche.

Bridgepoint’s strategic investment in Schuberg Philis builds on the firm’s strong track record investing in the growth of specialised technology-led businesses with a focus on mission-critical services for enterprise customers, with previous investments including Infinigate, Qualitest, Kyriba, DataExpert and ACT.

“Consistently ranked as one of the strongest IT services brands in the Netherlands, Schuberg Philis stands out as a high-quality, technology-driven business with an exceptional track record in its niche market. Five years ago, we first recognised the unique qualities that set Schuberg Philis apart and have followed their impressive journey closely since. With an outstanding NPS of 75 and a people-first culture, Schuberg Philis is well-positioned to lead as enterprise customers face increasingly complex digital transformations. We’re excited to partner with Schuberg Philis, leveraging Bridgepoint’s sector expertise and global network to expand its Northern European presence and support its next growth phase.” said Olivier van Riet Paap, Partner at Bridgepoint.

“Joining forces with Bridgepoint marks a significant milestone in our 20-plus-year journey,” said Gerwin Schuring, founder and CEO of Schuberg Philis. “This partnership will enable us to scale our European operations, invest in new technologies, and continue delivering exceptional service to our customers while staying true to our strong company values and people-first culture. Schuberg Philis’s management team will continue to guide the company.”

The transaction is subject to customary closing conditions including regulatory approval. Financial terms of the deal are not disclosed.

Bridgepoint was advised by Lazard and Axeco (M&A Advisors), A&O Shearman (Legal Advisor), Bain (Commercial), EY (Financial, Tax, ESG and Cyber Due Diligence) and Crosslake (Tech Due Diligence).

Schuberg Philis was advised by Arma Partners (M&A Advisor), De Brauw Blackstone Westbroek (Legal Advisor), PwC (VDD Financial and Tax), McKinsey (VDD Commercial) and Atlas (Tax advice).

 

*As estimated by Bridgepoint

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Vega Raises $20 Million Series A led by Apollo and Motive to Scale AltOS – The New “Core” for Private Markets Client Service

Apollo logo
  • Apollo and Motive led a $20 million Series A investment in Vega to scale its alternative asset manager client service technology platform – Vega AltOS – building on Vega’s $8 million seed investment from Motive, Picus Capital, Citi Ventures, and 60+ senior financial services executives.
  • Apollo has become an enterprise-scale anchor client, using Vega AltOS to power its client services across its institutional, family office, and global wealth channels.
  • Additionally, Apollo will contribute Edna, one of the largest alternative employee investment platforms in the market with more than $2 billion in employee AUM, into Vega.

NEW YORK and LONDON, Nov. 12, 2024 – Vega, an alternative investment technology company, founded by a team of former executives from leading hedge funds, private equity firms, and fintech scale-ups, today announced the successful closing of a $20 million Series A led by Apollo (NYSE: APO) and Motive. In addition, Vega has formed an enterprise-scale partnership with Apollo. These developments mark a significant milestone in Vega’s growth journey, as the company aims to become the industry’s leading operating system for alternative asset managers.

Building Technology for Alternative Asset Managers

Growing investor demand for private markets exposure is pushing alternative asset managers to transform how they service current clients and rapidly expand their service to new segments globally. Outdated client service technology and fragmented point solutions have created friction and hindered asset managers’ ability to scale, leading to substantial inefficiencies across their client service ecosystem.

In response, Vega’s mission has been to focus exclusively on the technology needs of alternative asset managers – building unifying solutions that enable scalable growth through Vega’s alternatives core system (AltOS), a comprehensive platform powering digitally-enabled client service across pre-trade, execution, and post-trade operations.

Alternatives Needs a Core

Vega AltOS will enable alternative asset managers to distribute products and serve clients through an “Alternatives-as-a-Service” framework, allowing any platform or client to connect to an alternative asset manager via API.  This technology facilitates direct connection between an asset manager and clients via the client’s service or platform of choice – whether intermediary advisor platforms, technology partners, or direct-to-institutional – enhancing the integration of alternatives in client portfolios.

Establishing a New Industry Standard for Alternative Managers

Vega believes the transformation of alternative asset management client service and operations infrastructure – through a modern AltOS client core – is the missing foundational layer for the industry to transition from its current bespoke distribution framework to a more scalable flow operating model, driving down cost for alternatives distribution, client service, and private markets transaction processing.

Vega intends to partner with other asset managers and platform providers to build standardized private markets client service infrastructure and drive growth across the industry.

“We have reached an inflection point where alternative asset managers now need their own operating system to power the industry’s next growth phase. We are thrilled to welcome Apollo as an enterprise-scale client and investor as we bring a new standard to the alternative asset management space,” said Alexis Augier, Founder & CEO at Vega.

“We purpose-built Vega AltOS to meet the complex client infrastructure needs of high growth, private markets asset managers. Similar to our experience in the core banking and payments revolution, demand and volumes across all client channels for private markets investments have outstripped the industry’s infrastructure of generic, sub-scale point solutions. We are excited to partner with Apollo and Motive to innovate and solve this industry challenge,” Augier continued.

“Apollo’s contribution of Edna – one of the largest alternative employee investment platforms in the market – accelerates Vega’s AltOS vision for GPs. Edna was incubated at Apollo, in partnership with Motive, and epitomizes the innovative approach to global wealth solutions at Apollo.  We are excited to continue expanding our range of GP solutions with the addition of Edna’s employee investment capabilities,” said Augier.

“Vega is building an innovative operating system purpose-designed for the alternatives industry to transform internal GP client operations.  As private market products continue to expand across asset classes and penetrate all parts of a client’s core portfolio, asset managers must transform client operations to better serve our clients’ evolving needs,” said Jake Walker, Partner and COO of Client and Product Solutions at Apollo.

“As an early-stage backer of Vega, and our extensive portfolio of WealthTech assets at Motive, we saw the need for a GP AltOS platform to help accelerate the alternatives distribution flywheel. Managers have been underserved to-date and Vega’s AltOS is critical to address this gap,” says Ramin Niroumand, Partner at Motive Ventures.

About Vega

Vega is building the distribution operating system (“AltOS”) for the alternatives industry, empowering asset managers to efficiently service and scale their client base in an era of hypergrowth for alternatives.

Through a single unified Core engine, Vega orchestrates previously siloed offline processes across pre-trade, execution and post-trade client operations, while enabling asset managers to distribute their products through a scalable “Alternatives-as-a-Service” framework. Vega’s modular, API-driven architecture ensures compatibility with a broad range of existing point solutions and third-party stakeholders, setting the foundations for the first purpose-built infrastructure layer for the alternatives industry.

Vega’s founding team consists of alternatives specialists from investment firms such as KKR, Blackstone, Elliott and Goldman Sachs, along with top product and engineering talent from successful fintech scale-ups like Revolut and Trade Republic. Vega has raised over $28m in funding from Apollo, Motive, Picus Capital, Citi Ventures, and 60 senior executives from the alternative investment industry. To learn more, please visit www.vega-alts.com

About Motive

Motive Partners is a specialist private equity firm with offices in New York City, London and Berlin, focusing on growth equity and buyout investments in software and information services companies based in North America and Europe and serving five primary subsectors: Banking & Payments, Capital Markets, Data & Analytics, Investment Management and Insurance. Motive Partners brings differentiated expertise, connectivity and capabilities to create long-term value in financial technology companies. Motive Ventures is the early-stage investment arm of Motive Partners, focused on pre-seed through to Series A financial technology investments in North America and Europe. For more information, please visit www.motivepartners.com

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of September 30, 2024, Apollo had approximately $733 billion of assets under management. To learn more, please visit www.apollo.com.

Contacts

Vega
media@vega-alts.com

Apollo
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com

Motive Partners
Britt Zarling
+1-414-526-3107
Britt.Zarling@motivepartners.com

Motive Ventures
Caroline Wahl
+49 1520 6254 889
c@caroline-wahl.com

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TAGGRS raises €2 million from No Such Ventures

No Such Ventures

  • Heerenveen-based TAGGRS, specializing in user-friendly server-side tracking, raised €2 million in growth funding from No Such Ventures to fuel its global expansion

  • Dutch VC No Such Ventures led the round to help TAGGRS on its mission to empower every company with the most accessible server-side tracking software

Amsterdam, November 6, 2024 – TAGGRS, a European software company specializing in user-friendly server-side tracking, has successfully raised €2 million in growth funding from No Such Ventures, underscoring the investor’s conviction in TAGGRS’ potential to become the global all-in-one platform for server-side tracking and data management.

 

“Founded just a year ago, over 6,000 companies and 400 marketing agencies across more than 80 countries worldwide have already implemented our software. Partnering with No Such Ventures allows us to accelerate the global rollout of our software and achieve our mission of empowering digital marketers and every company with the most accessible server-side tracking software” said Niels Olivier, co-founder and CEO of TAGGRS.

 

The need for reliable data in a privacy-driven world

With stricter regulations and the phasing out of third-party cookies, tracking user data on websites has become increasingly complex. Server-side tracking offers a solution by collecting data in a privacy-friendly manner, independent of third-party cookies. On average, companies see a 15-20% improvement in data volume and accuracy, providing them with a significant advantage in their advertising campaigns.

 

TAGGRS makes server-side tracking accessible

TAGGRS makes server-side tracking accessible and affordable, requiring minimal technical expertise. Its advantages, including enhanced data security, greater accuracy, faster page load speeds, and increasing measured data, make it a valuable investment.

 

Jorjan Jorritsma, co-founder, explained, “We provide a plug-and-play solution for server-side tracking, combined with analytics for deep insights into your data, enabling organizations to make decisions based on reliable data.”

 

Accelerating global growth with support from No Such Ventures

The investment from No Such Ventures empowers TAGGRS to make server-side tracking more accessible worldwide. In addition to capital, No Such Ventures brings a valuable network of experienced entrepreneurs and experts from the tech and marketing sectors, supporting TAGGRS in achieving its growth goals.

 

Arjan Griffioen, investor at No Such Ventures, added, “TAGGRS’ solution, born from the grounded experience of its pragmatic founders, focuses on accessibility and quality. The product is intuitive, receives outstanding customer feedback, and experiences nearly no churn. We look forward to supporting TAGGRS on their growth journey.”

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