Edda, a French outfit building collaborative software for professional investors, has raised $5.8 million in funding.
Formerly called Kushim VC, Edda has set its sights on building the Bloomberg terminal of the private markets, vowing to help investors ditch Excel.
Combining dealflow, portfolio, LPs and business community management into one product, the firm has already signed up over 100 investment firms and has over $22 billion in assets under administration.
Clément Aglietta, CEO, Edda, says: "Despite the unparalleled growth in the private markets, investing in the world’s most innovative and cutting edge technologies, the tools used to manage these assets are outdated.
"Edda has been built to take alternative assets investment to the next level, connecting the ecosystem in realising the greatest value of investment beyond financial gains."