Digital asset management company Carne Group has netted a $121.8m investment from Vitruvian Partners to expand the WealthTech client led technology solutions.?
Vitruvian Partners will take a minority stake in the business as part of the deal, which is subject to regulatory approval.
?At Carne our goal is to provide asset managers and institutional investors with solutions that lead to better investor outcomes,” said?John Donohoe, founder and group CEO at Carne. “We are focused on transforming the asset management industry through our proprietary CORR technology, hiring the best talent globally, and building client led, trusted solutions.
“In Vitruvian, we found a partner with a shared vision and the experience and intellectual capital to help us bring further innovation to the industry. Together we can build and deliver better outcomes resulting in a win-win for both asset managers and investors.p>
Vitruvian Partners has previously backed businesses such as open banking enterprise Deposit Solutions, cybersecurity company Bitdefender and card issuer Marqeta.
?We look for capital investment opportunities that are redefining industries and this is exactly what attracted us to Carne,” said?Stephen Byrne, partner at Vitruvian Partners. “Its ability to grow into a global trusted brand within an industry valued at over $110trn is testament to its business model and the strength and expertise of the management team.
“We have partnered with Carne to support the roll-out of their CORR technology platform, through which Carne brings much needed innovation and digitalisation to the asset management sector. Our investment and partnership will enable Carne to further accelerate ongoing developments of leading technology-enabled products and services, as well as global scaling of their platform. We look forward to partnering with John and the team as Carne continues its growth to meet the future needs of its clients and end investors.p>
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