Multi-asset class portfolio management platform Solovis has secured $8m from a consortium that included existing backer Northwestern University.
Northwestern University contributed to an $8m series A round for Solovis, a US-based multi-asset class portfolio management platform, yesterday.
The round was led by private equity firm Edison Partner and also included Mission OG, OCA Ventures, Timberline Ventures, Cultivation Ventures and angel investor Jeremie Bacon.
Solovis operates a management, analytics and reporting platform to forecast performance, exposure, liquidity and cash flow of financial assets. The technology is aimed at university endowments, family offices, foundations, pension funds and outsourced chief investment officers.
The series A capital will be used to drive an expansion of the company’s existing offices in Texas and Virginia as well as establish a presence in New York and California.
In January 2016, Northwestern University participated in a $3.25m seed round alongside Edison, MissionOG, OCA, Timberline and Bacon.
In 2014, Solovis secured a $1m commitment from unnamed backers, according to a securities filing. The investment was due to be made in four $250,000 chunks over two years, though Solovis has not supplied any updates on whether it has fully obtained this money.
