Alternative Investment

Edda Raises $5.8 Million for Investment Management Software

  • Paris-based Edda has raised $5.8 million from investors including Tony Fadell’s fund.
  • The startup aims to offer an alternative to Microsoft Excel to VC and PE investors managing portfolios.
  • Check out the 16-slide pitch deck Edda used to raise the funds.

In the world of private markets, Microsoft Excel has long reigned supreme as the tool to use for managing portfolios and investments. But one startup believes its days are numbered.

French startup Edda has raised a fresh $5.8 million in fresh funds to develop its collaborative software designed for professional investors in venture capital and private equity in a bid to shake up the way they oversee the trillions of dollars of assets they have under management.

For Clément Aglietta, founder and CEO of Paris-based Edda, there was a clear irony to the fact that private investors such as VCs invest in “super high technology” startups, yet end up opting to use “very old” tools and processes for themselves.

“With Excel, of course, you can do your math, you can do your calculations, but once you need to share information – to extract that data from Excel – it’s actually very very painful,” he said.

To tackle this issue, Edda has created a design-led platform that is built to combine information on portfolio companies and deal flow in one place, while bringing key stakeholders such as LPs together to enable more transparency and communication. 

“When you manage a fund there is of course your team, but there is also all the people around, there is your LP, company founders, LPs,” Aglietta said. “That’s why you need a tool that helps you to manage all this ecosystem.”

Through its online platform or mobile app, members of investment teams such as analysts, CFOs, and partners can work together in one space to ensure the information on fund bets are secure and up-to-date. 

The platform can capture all public information about startups from sources such as Crunchbase and Pitchbook and synchronizes with other services such as Dropbox automatically to bring documents floating around together into one space.

“Edda has been built to take alternative assets investment to the next level, connecting the ecosystem in realizing the greatest value of investment beyond financial gains,” Aglietta said. 

At present, the startup has over $22 billion in assets under administration with more than 100 customers in 26 countries signed up, including Amazon Industry Innovation Fund, BPI France, and Headline.

The funding was raised from several investors including Future Shape, the fund of former Apple designer Tony Fadell, as well as Mucker Capital, Plug&Play, and FJ Labs. 

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