73 Strings secures $10m

73 Strings has secured $10m in series-A funding, led by Blackstone, Fidelity International and Broadhaven Ventures.

The investment aims to contribute to the firm’s geographic expansion and the development of its existing product range.

Yann Magnan, co-founder and CEO of 73 Strings, commented on how the funding will help the business: "We will be enhancing our presence in the US, Canada, the UK, Continental Europe and the Middle East markets to address increasing demand. We will also accelerate the development of new features that we have on our roadmap in order to complement our current data collection, monitoring and valuation offering, and deliver the industry-wide standard for middle-office technology, aiming to contribute significantly to the future of private markets, which we believe will be digital."

73 Strings provides data collection, monitoring and valuation tools to help increase liquidity in EU, US and Canadian funds. Clients include GPs, LPs, pension and sovereign wealth funds.

The firm was the winner of the Technology: Innovation category at The Drawdown Awards 2023.

Prior to that, 73 Strings partnered with Alvarez & Marsal in November 2022 to combine their international client bases.

To read more about the provider’s offerings, read our conversation with CEO and co-founder, Yann Magnan here.