Private equity investors have more than $6.5 trillion under management, which is being invested in the most innovative sectors and companies in the world. Yet, the majority of these investors still rely on tools such as Excel spreadsheets to manage their portfolios.
Attempting to offer an alternative to Excel for VC and PE investors managing portfolios, Paris-based collaborative software for professional investors Edda provides the market with technology that brings efficiency, transparency and safety to the industry. The French startup has now raised $5.8 million in funding. The round was backed by Mucker Capital, Plug&Play, FJ Labs, Tony Fadell’s Future Shape - the fund founded by iPhone inventor - and angel investor Arnaud Bonzom. The fund will be used to further build the product.
Founded initially as Kushim VC back in 2017, the design-led software combines deal flow, portfolio, LPs and business community management into one product. As of now, Edda has over $22 billion in assets under administration to date and is used by over 100 investment firms across 26 countries.
According to Clément Aglietta, founder and CEO, despite the unparalleled growth in the private markets, the tools used to manage these assets are outdated. “Edda has been built to take alternative assets investment to the next level, connecting the ecosystem in realising the greatest value of investment beyond financial gains. The design-led software enables a new dimension to money through a new way to view it. Its visual management system allows investors to see, in real time, the true/layered dimensions of their investments and the value and impact they create – on the businesses they invest in,” Aglietta said.
Fabrice Grinda, founding partner at FJ Labs added: “Edda will transform how investors visualise their fund and manage their deal-flow and relationships. Venture capital and private equity in general has gone from strength to strength over the past decade, spreading into new sectors and becoming the cornerstone of innovation investment. As we face a more challenging investment environment, investors need game changing collaborative tools such as Edda to help to ensure they remain one step ahead.”