FTV Portfolio Company Enfusion Achieves $1.5B Valuation
Enfusion Receives $150M Investment from ICONIQ Growth as it Continues to Redefine Investment Management Technology Solutions
CHICAGO, NEW YORK, LONDON and HONG KONG, 7 January 2021 – Enfusion, a global leader in investment management technology solutions and services, announced that it has received a $150 million minority investment from ICONIQ Growth. The funding is an endorsement of Enfusion’s pioneering cloud-native SaaS approach to breaking technological barriers and removing informational and operational constraints for its investment management clients. In line with Enfusion’s continued profitability and growth, this funding values the Company at $1.5 billion. ICONIQ Growth joins FTV Capital and Hillhouse Capital as institutional investors in the company.
Over the last several years, traditional and alternative asset managers using Enfusion’s integrated front-to-back office software and services have used the platform to simplify their workflows, reduce their technology footprints and unify their data, ultimately allowing them to focus more on productivity and investment decision-making. At a time in which many investment managers are moving out of legacy systems to remove operational bottlenecks impacting the bottom-line, ICONIQ Growth’s investment reinforces the value of Enfusion’s proven cloud-native SaaS-based approach to solving this growing industry challenge.
“We are delighted to support Enfusion in its efforts to radically disrupt the investment management solution space,” said Roy Luo, Principal at ICONIQ Growth. “We believe Enfusion has developed a highly differentiated and groundbreaking platform that is creating a new standard for native-cloud asset management solutions and modernizing a historically outdated approach to the front, middle and back office experience. As an investment management firm, we deeply understand the importance of digital transformation in the industry and how it can build more sustainable relationships and better understanding of clients’ evolving needs. Our investment in Enfusion is representative of our commitment to invest in best-in-class, long-view technology businesses – and we are excited to collaborate with their experienced management team during their next phase of strategic growth.”
“Our job is to empower and support investment managers wherever they are in their operational journey. As we continue to better position ourselves to meet the needs of our clients, we have worked to remove the silos traditionally associated with portfolio management, order management, trading, operations, accounting, IR, and many other services,” said Thomas Kim, CEO of Enfusion. “ICONIQ shares this vision and we are humbled to have their support in this journey, advancing our commitment to help our clients transform their businesses and grow.”
Serving more than 550 clients from nine global offices, Enfusion logged another record year, signing 160 new fund managers to the platform in 2020. The Company announced another round of significant year-over-year client growth globally, most notably in APAC with triple-digit growth.
“Today, our strategic vision is being stewarded by hundreds of world class technologists, developers, financial experts and service professionals across our global team. As we expand our reach across the global investment management community, our team remains committed to excellence in client experience, innovation and performance. We are eager to keep solving our clients’ most challenging problems in an entirely re-imagined way,” added Kim.
Enfusion’s investment management software-as-a-service platform removes traditional information boundaries, uniting front, middle and back-office teams on one cloud native system and across one golden data set. Through our industry-leading software, analytics, and middle/back-office managed services, we create enterprise-wide cultures of real-time, data-driven intelligence, boosting agility, and powering growth.
As a Fintech leader and pioneer in developing innovative solutions, Enfusion partners with 500+ investment managers from eight global offices spanning four continents. Enfusion was recognized by Aite Group as “Best in Class” for its Front-to-Back Portfolio Management System in 2019 and was named “Best Managed Services Provider” at the 2020 HFM EU Services Awards. For more information about its technology and Managed Services capabilities visit: https://www.enfusion.com/.
About ICONIQ Growth
ICONIQ Growth partners with exceptional entrepreneurs and leaders who drive global impact and change. We are inspired by visionaries defining the future of their industries by building company cultures that endure. Our unique investment platform harnesses the power of ICONIQ Capital’s vibrant ecosystem of founders, pioneers, and business leaders with the goal of delivering tangible value and amplifying our portfolio companies’ success from early growth stage to IPO and beyond. ICONIQ Growth’s portfolio of innovators include Adyen, AirBnB, Alibaba, Alteryx, Automattic, BambooHR, Braze, Chime, Collibra, Coupa, Datadog, Docusign, Gitlab, Marqeta, Miro, Procore, Red Ventures, Relativity, ServiceTitan, Snowflake, Sprinklr, Truckstop, Uber, Wolt, and Zoom, among others. For more information and a complete list of portfolio companies, please visit iconiqgrowth.com.
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