IMatchative has completed a USD20 million Series B funding round, which will be used to support the continued development of AltX, the firm’s data analytics platform and marketplace for capital introduction.
Lead investors include Wells Fargo & Company, Control Empresarial de Capitales, controlled by Carlos Slim, David Bonderman, founding partner of TPG Capital, and Andy Redleaf, the CEO of Whitebox, which are providing the majority of the capital.
Jeff Ubben, founder of Value Act Capital, led the Series A round and also invested in this round. Sterne, Agee & Leach served as IMatchative's financial adviser for the funding round.
Imatchative CEO Sam Hocking says: “We are delighted to have this distinguished team of strategic investors. Having some of the most successful and sophisticated investors in the world as our allies in the development of AltX is testament to the value our product provides to the marketplace, as well as the need for a more efficient and lower cost method for discovering, evaluating and investing in the hedge fund space.”
AltX uses science and technology – a combination of big data, intelligent analytics, behavioural science, and matching algorithms – to assess the risk tolerance, investment goals and preferences of investors in the fund selection process. AltX also enables hedge funds to gain deeper insights into the motivations and perceptions that shape investors' decision-making processes.