Enso Financial Management LLP, a New York-based early-stage firm providing hedge funds and asset managers with innovative portfolio reporting and data analytics services, received an investment of undisclosed amount.
ICAP plc, a markets operator and provider of post trade risk mitigation and information services, joined funding round with Euclid Opportunities, its vehicle for funding next generation financial technology. Steve Gibson, Managing Director of Euclid Opportunities, will join the Board of EFM.
The amount of the deal was not disclosed.
The company intends to use the funding for continued product innovation and geographical expansion.
ENSO Financial Management has developed a suite of tools for hedge funds and asset managers to monitor both structural and variable costs to improve daily fund performance based on actionable insights.
The firm reports on more than $100 billion in global assets under management.