Berlin-based fintech bunch has launched in the UK, bringing its operating system for private equity and venture capital funds to the region.
Having tripled its revenue and assets under administration in the last year, bunch is now accelerating its international expansion and is now aiming to take a slice of a burgeoning market in the UK. London is currently home to over 1,500 active PE and VC funds, while over half the value of the European private markets’ total assets under management sits within the UK.
With the global value of alternative assets projected to reach $38trillion in 2028, bunch’s UK launch aims to pose a challenge to legacy providers such as Aztec, Apex and IQEQ.
Global private markets have been propelled by powerful tailwinds in recent years, with the global value of assets under management rising from $10trillion to $24trillion over the last decade. Appetite from retail investors hoping to enter the rapidly-expanding category currently stands at $150 trillion.
bunch provides an end-to-end platform for investors to operate, administrate and transact within private markets. While fund operations have historically been characterised by complex, paperwork-based processes and a lack of transparency, bunch offers a data-centric approach to enable GPs and LPs to interact with accurate, up-to-date information, all in one place.
Alastair King, Lord Mayor of London, said: “It is great to see bunch launch its UK presence and London office. We welcome the innovation that bunch are bringing to the private investment markets at times when unlocking private capital is more crucial than ever for the UK and global economic growth. London as a global financial centre with a high concentration of private market investors is the natural choice for bunch to grow and scale up its innovative offer to the industry.”
Enhancing focus on strategy, not admin
To bolster its UK launch, bunch plans to invest in its UK go-to-market team heavily, growing its headcount to double figures over the coming year to drive commercial growth and develop client partnerships.
The company has also appointed Tomás Herrmann, former investor at Creandum and Hedosophia, to lead its newly-opened London office at Tottenham Court Road.
Herrmann commented: “With demand for private markets booming, legacy systems are no longer fit for purpose. By building a world-class team and comprehensive tech infrastructure to meet the unique needs of this market, bunch empowers GPs and finance leaders to focus on strategy, not admin.”
Sandra Lyness, partner at Tiny VC, also added: “We believe in bunch’s potential to streamline and simplify the fund administration experience, and we’re excited to be their first client in the UK. We invest in more companies than most other venture funds, so operations are especially critical to our firm. We’ve spoken to many fund ops software products in the market, and bunch is the one that allows us to focus more on our portfolio companies and direct LP relationships.”
Founded in late 2021, bunch has established itself across mainland Europe, and aims to overcome challenges presented by legacy processes and technological infrastructure, which have evolved little since the 1980s.
The UK is the first of several new country launches planned for the year ahead, as bunch pursues its goal of becoming the partner of choice to pan-European funds, fuelled by its $15.5million Series A raise in July.
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