Fund re-registration and technology firm Calastone has secured a total of $18m (£11.47m) investment from private equity firm Accel Partners and shareholder Octopus Investments.
Calastone says the funding will be used to accelerate growth in Asia Pacific and Europe. It has not provided a breakdown of the investments by Accel and Octopus.
Calastone provides fund re-registration services for a number of fund managers and platforms, including SEI, Transact, Novia and Axa Elevate.
Octopus remains the largest shareholder in Calastone, though would not disclose the size of its stake. It invested in the business in 2008 through its venture capital trust arm Titan.
Calastone chief executive Julien Hammerson says: “This latest fundraising will enable Calastone to further deliver against its ambitions and truly compete in the global arena.”
Accel Partners partner Sonali De Rycker says: “In a short space of time, Calastone has emerged as a leader in the global funds technology industry and is rapidly expanding to service new markets and new geographies.”
Octopus Investments head of ventures team Alex Macpherson says: “We have sought to support the Calstone team to take advantage of the global growth opportunities open to the company as it expands in Europe, Asia and beyond.”
Finance and Technology Research Centre director Ian McKenna says: “Being able to offer software on an international scale will enable Calastone to achieve economies of scale that could not be achieved while only operating in a couple of territories.”