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Enfusion iconiq growth12/17/2022 ![]() ![]() Want to read more stories like this one? Here's how you can gain access: Enfusion's growth trajectory is further testament to this mega-trend of investment managers striving to consolidate their systems. The trend of front-to-back solutions has powered the rapid growth of BlackRock's Aladdin and Bloomberg's Aim, and also led to the $2.6 billion acquisition of Charles River by State Street in 2018. Integrated solutions enable asset managers to break down information silos-which can develop when working with different vendors and multiple solutions-and connect their wealth of data sources across their various business units. This likely endeared Enfusion to investors, as its integrated solution enables clients to both tackle cost pressures by outsourcing core processes and harnessing data sets to derive insights and exploit growth areas.Īsset managers are increasingly seeking end-to-end solutions-rather than individual vendor solutions-to feed digital transformation, a trend that will continue throughout 2021. Software vendors of integrated solutions that provide one comprehensive system of services across the entire investment lifecycle have grown their client bases rapidly in recent years. Moreover, third-party solutions present an opportunity to harness emerging technologies, such as AI, to support growth strategies with data-powered insights that demystify newer strategies, such as ESG portfolios, which require alternative data to measure the nascent criteria. In response, asset managers are leveraging vendor solutions to drive operational efficiencies and cut costs. Global asset managers are suffering from shrinking margins as demand and asset allocation grow for lower-fee passive strategies, while operational costs also rise due to swelling costs in compliance, among other areas. Investor interest in Enfusion and its customer growth are likely fueled by asset managers' interest in third-party solutions to alleviate margin pressures and drive their growth strategies. ![]() Enfusion acquired some 150 of its 550 clients last year to cap a strong year of growth in 2020. Notable startup events include the annual TECHSPO Chicago, and 2022 sees the city hosting the Venture Capital World Summit.Asset managers are seeking end-to-end solutions to feed digital transformation.Įnfusion's integrated platform offers cloud-based solutions across the entire investment value chain: It provides software for portfolio management, services that streamline middle- and back-office operations, and data analytics to augment investment decisions, among other areas. In February 2022, highly regarded incubator 1871 launched a new accelerator program for Black-owned businesses, and a month later LongJump, a first-check venture fund that invests in Chicago’s underrepresented founders, made its first investments. ![]() The same year, TechRise awarded nearly $1 million in seed funding to more than 42 early-stage Black- and Latino-founded startups. The median deal size rose from $2.5 million in 2019 to $8.5 million in 2021. ![]() Women founders raised over $257 million in 2021, nearly triple the $80 million raised in 2019. #Enfusion iconiq growth series#Logistics platform ShipBob raised $200 million at Series E in June 2021, peer-to-peer review company G2 raised $157 million at Series D the same month, and marketing and sales automation platform ActiveCampaign raised $240 million Series C in April 2021.Ĭhicago’s startup scene is notably diverse. New funds also emerged here in 2021, including LongJump, CAST US by Cleveland Avenue, and TechRise by P33. In 2021, 12 Chicago-based startups reached over $1 million in valuation, bringing the total numbers of unicorns to come out of the ecosystem so far to 20.Ĭhicago startups raised $7 billion across 372 venture deals in 2021-by far the highest total for the ecosystem since PitchBook began tracking such statistics in 2006. Recently it’s become a unicorn factory as well. Home to corporate behemoths like Walgreens and State Farm, Chicago has long been an industrial hub. ![]()
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