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Accelex raises $5m seed round co-led by Albion and Illuminate Financial

Accelex, a data acquisition, analytics, and reporting solution for private markets investors and asset servicers, announced the close of a $5m seed round of venture financing co-led by Illuminate Financial and Albion, with participation from Expon Capital and SixThirty Ventures.

This financing will accelerate the company’s global growth ambitions through further product development, client acquisition and support.  Illuminate Financial and Albion will join Accelex’ Board of Directors as part of this transaction.

Since the launch of the Accelex platform 12 months ago the company has achieved significant growth - now supporting a sophisticated global client base of investors and asset servicers.  These clients represent a combined asset base of over $300bn, invested in more than 3,500 private markets funds across 1,100 managers.

“The growth in alternative investing – particularly private markets – continues at pace and with that growth comes the burden of complex investor workflows.  Accelex is enabling investors, and their asset servicers, to digitize these processes, gaining access to better investment insights often bound up in PDF documents”, said Franck Vialaron, CEO at Accelex.  “We are delighted to welcome Illuminate Financial, Albion, Expon and SixThirty to the Accelex family and are confident that their contribution will be key to the firm’s positive trajectory”.

“Accelex provides an integrated environment to manage, extract and audit data from an endless range of general partner reporting formats”, said Robert Whitby-Smith, Partner at Albion.  “As private markets lack market pricing signals, the insight from underlying asset-level data and benchmarking is needed to optimise core LP decision-making processes including risk management, asset allocation, fund manager performance and selection. We are excited to be supporting such a strong and experienced team to transform data analytics within the now mainstream “alternative asset” market.”