Palico, a New York and Paris-based provider of a private equity marketplace, secured $7.3m in equity funding.
New investors, comprising half a dozen family offices and private equity professionals from Europe and the United States, joined existing shareholders, including founder Antoine Drean. Their names were not disclosed.
The company, which has raised $19.2m in total, intends to use the funds to develop new services targeting institutional investors and individuals including enriched tools for the buying and selling of secondaries and the roll-out of new analysis instruments.
Live since 2012, Palico is a regulated private equity marketplace that allows accredited investors to contact fund managers, sponsors of co-investments and sellers of secondary stakes. In addition to one-on-one conversations, its encrypted technology permits the exchange of water-marked private placement documents between qualified sponsors and accredited investors. The platform is also a source for news and information, including manager and investor profiles and comprehensive fund performance data, all personalized according to individual member interests.
Available via desktop, laptop, tablet and smartphone, it is used by over 15,000 professionals representing Limited Partners, General Partners, and Service Providers in over 70 countries and lists over 1,500 primary fundraising, co-investment and secondary opportunities.