Fund I Portfolio Exit Announcement – Mercatus
Mercatus Acquired by State Street Corporation
Augment Ventures is pleased to announce that Mercatus, a premier front-and-middle-office solutions and data management provider for private market managers, will be acquired by State Street Corporation (NYSE: STT).
Mercatus received Series A funding in 2013 from investors including Augment Ventures, Trepp, and Vision Ridge Partners. Alongside existing investors, further growth equity was provided by TPG and Traverse Venture Partners. The exceptional team at Mercatus has built a world-class investment data management platform to monitor private fund portfolios and provide intuitive valuation, asset, ESG, and deal management with transparency, speed, and flexibility. We congratulate the entire Mercatus team on leading growth and transformation in a competitive marketplace.
This acquisition will solidify State Street’s ability to provide institutional investors a fully integrated, single digital platform to manage the entire lifecycle of their infrastructure, private equity, real estate, and private debt investments – including providing portfolio exposure to managers investing in both public and private markets.
This comes on the heels of our previous exit with LLamasoft, announced in November 2020. These successful transactions further solidify Augment’s commitment toward business transformation powered by digitization and data.
For more information, please read here.
About State Street Corporation
State Street is one of the world’s leading providers of financial services to institutional investors including investment servicing, investment management, investment research, and trading. With $42.6 trillion in assets under custody and/or administration and $3.9 trillion in assets under management as of June 30, 2021, State Street operates globally in more than 100 geographic markets and employs approximately 39,000 worldwide. www.statestreet.com
Mercatus is an investment data management platform for private market fund managers and asset owners that need to solve the complexity of their private investment data. It offers a single platform to manage the entire investment lifecycle: from deal to divestment, asset to fund, debt to equity. Mercatus has operations in the US, UK, and India, and manages over $1 trillion invested capital across its global private markets client base, which includes some of the top managers in private equity, infrastructure, real estate, and private debt. www.gomercatus.com
About Augment Ventures
Augment Ventures is an early-stage venture capital fund that invests across North America in early-stage companies at the intersection of digitization and data that are transforming traditional industries. Augment seeks mission-driven founders with diverse teams that bring intellectual rigor to solving big, real-world problems. We invest in software, smart hardware, and physical science innovations that are changing the way people live, work, and play around the world. www.augmentventures.com