Eagle Alpha has successfully raised $1.8m from individuals within the industry, including both new and existing investors.
The level of interest reflects the growing realisation that asset managers need to exploit alternative data in order to gain an edge. This funding round also provides a clear endorsement in Eagle Alpha’s ability to deliver this.
Emmett Kilduff, Eagle Alpha’s CEO and former Morgan Stanley and Credit Suisse investment banker, said: “Asset managers are integrating alternative data into their investment processes. This funding round is an important milestone on our journey to become the leading alternative data platform for asset managers”. FinRes worked with Eagle Alpha on the round and has been working in preparation for a Series A process.
Eagle Alpha has also strengthened its Advisory Panel with the addition of Adrian Faure. Adrian who runs capital advisory boutique, Bosham Capital Advisors, brings 25 years of sell-side research experience, including roles as Head of Global Equity Sales and Head of Pan-Asian research for Citigroup and Head of Global Emerging Market Research for Merrill Lynch.
On joining, Adrian commented: “I am excited to invest in Eagle Alpha and to join its Advisory Panel. In a world where the value of sell-side research has markedly declined, Eagle Alpha’s alternative data analytics stands out as a very powerful, differentiated and valuable addition to the institutional investor’s tool box. I look forward to helping Emmett and his team continue to build Eagle Alpha into the pre-eminent provider of alternative data analytics to the investment community”.
In August this year, Eagle Alpha added Gawn Rowan-Hamilton to its Board. Gawn was the co-founder and CFO of MergerMarket Group (acquired by BC Partners for $624m in 2013) and former entrepreneur in residence at Warburg Pincus.
Gawn commented: “Eagle Alpha is making good traction with customers. It is ready to commence a Series A process to capitalise on interest from both the strategic investment arms of asset managers and fintech venture capital firms”.