A crop of high-profile angel investors are coming together to lead a £1.5 million capital commitment into a fledgling online network.
LP-GP Network, which is being developed by Investor Network, will use the existing users of news and research service AltAssets to bring together institutional investors and private equity fund managers.
The angel round comes after Investor Networks bought AltAssets in 2013, and will see the 50,000 private equity professionals who are registered brought together on a platform of networking and communication tools.
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Richard Sachar, CEO of AltAssets, says that the company’s new investors ‘believe strongly’ that fund managers in the alternatives assets industry need to use technology more effectively to meet the information demands of institutional investors.
Sachar, whose background has included a role at a placement firm which raised capital for Risk Capital Partners and Veronis Suhler Stevenson, adds, ‘The industry is unique in terms of the need for institutional investors to be able to manage their information flows, rack fund managers for long periods before investing and for building extended networks.’
Jon Moulton, whose Better Capital firm invests in struggling businesses, has previously taken part in angel rounds involving companies such as crowdfunding platform InvestingZone.