Lantern launches with portfolio monitoring platform
Data platform Lantern has been launched to provide GPs with portfolio monitoring services, aiming to help improve fund performance.
The platform was established by Edward Moore, founder, chairman and former CEO of Aztec Group, who started its development two years ago.
Originally a project within Aztec, the fund administrator has supported the seed funding for Lantern’s launch. The company is a wholly owned subsidiary of Aztec.
Lantern provides data analytics and visualisation technology using audited current datasets, managed by a team of data scientists.
The portfolio monitoring services will provide GPs with automated data collection and validation.
Its existing fund monitoring service offers performance dashboards for benchmarking KPIs. Lantern also provides insight into investment transactions and operational metrics, including fund fees and cash-on-cash returns.
Moore outlined what sets Lantern apart from its competitors: “We want to create a single source of truth. We are confident in providing our clients with reliable data sources, coming from our existing clients, GPs, fund administrators, portfolio companies and publicly available sources, such as Companies House.”
He added: “Audited calculations are updated in the platform in line with quarterly reporting cycles, but transactional data is updated weekly, giving clients a more real-time picture of their data and performance.”
Finally, Moore stated Lantern’s aim is to bridge the gap between larger and smaller GPs, as the former tend to have more resources to develop internal data tools. The platform wants to offer the same opportunities to the mid-market.
In April 2023, Moore stepped down as CEO of Aztec to focus his efforts on Lantern, while pursuing an active role on the Aztec board.