73 String Raises Series A Funding

by Kay Aloha Villamor in July 13th, 2023

73 Strings, a Paris, France-based provider of valuation and portfolio monitoring solutions for the private capital industry has completed its Series A funding round to continue to invest in building the product, engineering, and go-to-market teams.

The investment was led by Blackstone Innovations Investments, Blackstone's early-stage strategic investment arm, and Fidelity International Strategic Ventures (“FISV”), with participation from Broadhaven Ventures.

“In a complex and volatile environment, it’s increasingly critical to alternative asset managers and their investors to deliver fast, frequent, and efficient valuations. This process is critical to keeping stakeholders well-informed. We’re enabling our customers to extract more information, intelligence, and value out of the portfolio monitoring and valuations process. We are thrilled to have the support of prestigious investors including Blackstone, FISV, and Broadhaven Ventures,” said Yann Magnan, co-founder and Chief Executive Officer at 73 Strings.

The company is trusted by some of the world’s largest multi-strategy alternative investment firms across North America, Europe, and the Middle East with a client base that spans pension funds, sovereign wealth funds, limited partners (LPs), and general partners (GPs), including Eurazeo in France (€35B AUM), and Sofina in Belgium (€9B+ AUM).

73 Strings allows funds to move away from error-prone spreadsheets into a scalable software solution that streamlines the collection of portfolio company data and allows users to run automated valuations processes for private assets. 

The company’s integrated solution introduces efficiency, better risk management, and enhanced quality control to the portfolio monitoring and valuation processes. Today, the company’s platform is leveraged by clients with a combined AUM of over $2 trillion across Private Equity, Growth Equity, Venture Capital, and Private Credit strategies.

Company: 73 Strings SAS

Raised: Undisclosed 

Round: Series A

Funding Month: July 2023

Lead Investors: Blackstone Innovations Investments

Additional Investors: Broadhaven Ventures

Company Website: https://www.73strings.com/

Software Category: Valuation and Portfolio Monitoring Solutions

About the Company: 73 Strings is a modern, integrated, and holistic data collection, monitoring, and valuation platform powering the private capital industry. The company has developed a next-generation AI-powered platform to assist alternative investment funds in streamlining their middle-office processes. The platform enables funds to collect and seamlessly structure portfolio company data, monitor these companies, and estimate their fair value at the click of a button. 73 Strings supports clients globally across multiple strategies, including Private Equity, Growth Equity, Venture Capital, and Private Credit. The company is headquartered in Paris and has a global presence across New York, London, Paris, Toronto, and Bengaluru to support its growing customer base.


Source: https://www.businesswire.com/news/home/20230712170673/en/73-Strings-Announces-Series-A-Funding-Led-by-Blackstone-and-Fidelity-International-Strategic-Ventures

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