Private Markets FinTech Leader Anduin Closes $15M Series B

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Anduin, a leading fintech company specializing in private markets, has successfully closed a Series B funding round, raising $15.6 million. The round was led by 8VC, with participation from existing investors and GC1 Ventures.

Anduin’s core mission is to drive digital transformation in the private markets. The company has developed a flexible platform that has revolutionized how various types of investors, known as limited partners (LPs), participate in alternative investments. With their innovative Fund Subscription, Data Room, and Investor Access features, Anduin has facilitated the onboarding of over 27,000 investors into more than 510 funds, contributing to a total capital raise of over $55 billion globally.

Eliot Hodges, CEO of Anduin, highlighted the untapped potential in the private markets and the challenges that traditional manual processes pose in an era of increasing democratization and demand for speed, security, and scalability. Hodges explained, “We built Anduin to fundamentally transform how private market players onboard their investors and interface with them throughout the lifecycle of their investment vehicles.”

The newly secured funding will support Anduin’s next phase of growth, which includes enhancing the functionality and integrations of its core platform. Additionally, Anduin aims to expand its offerings beyond onboarding to provide comprehensive support for general partners (GPs), LPs, and partners across different asset classes and geographies.

Alex Moore, an investor at 8VC, emphasized the significance of investor relationships in the private markets and expressed excitement about supporting Anduin’s vision to facilitate these relationships at critical moments.

Anduin has experienced significant momentum, with over 4 percent of global private markets capital raised on its platform in 2022. This achievement is attributed to partnerships with leading private equity and venture capital firms, fund administrators, law firms, and technology integrators.

Michael Wolitzer, Head of the Investment Funds Practice at Simpson Thacher & Bartlett LLP, praised the collaboration with Anduin, which has enabled Simpson Thacher to provide its private fund sponsor clients with a secure and market-leading technology platform. The platform has enhanced the investors’ experience and improved the efficiency of the complex fund subscription process. Clients appreciate the ease of onboarding investors and accessing a centralized dashboard that automatically tracks investor status, comments, and documents in real-time.

With this successful funding round and its strong industry partnerships, Anduin is well-positioned to continue driving innovation in the private markets, enabling smoother investor experiences and facilitating efficient operations for fund managers and their investors.

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