ACE Alternatives, one of Europe’s fastest-growing alternative asset fund service provider, announced a seven-figure seed round investment from Bob Kneip, who also joins as Chairman of the Advisory Board. This investment will drive ACE’s expansion into new markets and the enhancement of its tech offerings.
Leveraging tech-driven processes and extensive industry experience, ACE offers tailored solutions for fund administration, compliance and regulatory, tax and accounting, investor onboarding and ESG needs.
The investment will be allocated to expanding operations into Luxembourg and Ireland, leading fund domiciles, and to targeting the underserved DACH equity market. The company, among other things, will also enhance AI capabilities, including LLM-based report scripting and Portfolio Valuation services, to improve offerings for GPs and LPs, and accelerate the roll-out of ACE’s advanced Suite7 expert software solutions, focusing on process automation and data connectivity.
This investment follows a period of exceptional growth for ACE Alternatives, with over 200% year-over-year increases in revenues and assets under service. Over 50% of new clients come from referrals with recent additions including notable fund managers like VSquared, Matterwave, Nucleus, altitude, Identity.vc, and Emergence.
Isabella Fandrych, Managing Partner of Nucleus Capital, which recently closed its Fund Nucleus II with significant backing from KfW and other top institutional investors, commented: “The ACE team and platform services have already proven to be a significant value for us and a real strategic asset. Our investor onboarding and fund closing process has been complex and tightly scheduled – the ACE team has been extremely supportive and proactive, making this fast-closing process possible.”
Matias Collan, Founder and CEO of ACE Alternatives, expressed his enthusiasm: “This partnership with Bob Kneip is a major milestone for us. Bob is a highly accomplished entrepreneur who, over a tenure of more than 25 years, built Kneip Communication into an international market leader in financial information services for investment funds and transformed it into a digital information service company. Therefore, it was only natural to invite Bob to become Chairman of our Advisory Board. In this role, he will support the ACE management in an advisory capacity and share his extensive experience in product strategies, operational growth, and international expansion. With his strong roots and excellent networks in Luxembourg, as well as in Ireland, the UK, and other international markets relevant for ACE, Bob will be an important senior ambassador for ACE in the future.”
As part of the strategic expansion plan, Felix von der Planitz joined ACE Alternatives as Co-CEO on July 1st. A former PwC Senior Partner and Head of Tax Compliance in Germany, Felix will co-lead the new ACE Tax Unit with Matias. This move strengthens ACE’s senior leadership and expands its expertise and service offerings.
Bob Kneip, speaking on his investment in ACE Alternatives, said: “My investment into ACE Alternatives, emphasized the transformative potential of their technology-driven approach. ACE Alternatives is at the forefront of the digital revolution within the alternative investment industry. The platform is designed to provide enhanced clarity, efficiency, and transparency in processes and information for both limited partners (LPs) and general partners (GPs). This innovative approach is intended to streamline fund management activities, improve data delivery, and facilitate seamless communication between fund managers and investor. This what the market is craving for!”
Read the orginal article: https://www.eu-startups.com/2024/08/berlin-based-ace-alternatives-gets-a-seven-figure-seed-to-redefine-alternative-fund-management/
