Hollyport Capital halves time spent on portfolio monitoring process with Canoe Intelligence
LONDON, NEW YORK, December 12, 2024 – Canoe Intelligence (“Canoe”), the platform for smarter alts management, today announced a new client engagement with Hollyport Capital, a specialist secondary investor focused on capturing value in legacy private equity assets with offices in London and New York City.
Hollyport has engaged Canoe Connect to automate its alternative investment document collection workflow and Canoe Intelligence to systematise its data extraction processes. The firm will also leverage Canoe’s API to integrate with Holland Mountain Atlas for downstream data needs.
In its exploration of portfolio monitoring solutions, part of a broader technology stack refresh, Hollyport was drawn to Canoe for its ability to ingest documents automatically and further won over by the platform’s simple user interface and data accuracy. With exposure to over 2,500 fund interests in its portfolio, and that volume growing exponentially as fund sizes increase, Hollyport’s portfolio monitoring workflows had continued to become more burdensome and required an ever-growing team to manage properly. Realising that the great inefficiencies in the monitoring process—like people opening portals to download documents, or passwords being changed and not communicated—caused slowdowns, the Hollyport team explored technology solutions that could optimise this process.
Thanks to Canoe, the team cites that they’ve saved approximately half the time they would have previously spent on manually processing portfolio monitoring updates.
“We chose Canoe to streamline the laborious portfolio monitoring process. We found Canoe was very capable at collecting documents from various sources which immediately saved valuable time previously spent on a low-level task, and we were also impressed that the system displayed a high degree of accuracy when scraping those documents for key data points,” said Scott Lomas, Vice Principal – Portfolio, Data & Analytics at Hollyport Capital. “Ultimately, our decision to go with Canoe was based on the time-saving efficiencies and accuracy we observed during live demonstrations, and we’ve been delighted with the system’s performance, which has already impressed the entire team.”
Hollyport Capital is the latest addition to Canoe’s client roster. Today, the firm works with over 375 institutional investors, asset servicers, capital allocators and wealth managers mostly across North America, Europe, and Asia. The large number of peer firms also utilising Canoe’s technology was another factor in the Hollyport team’s ultimate decision to engage Canoe.
“The Hollyport team was seeking a system that was not only reliable and user-friendly but also adaptable to their specific needs for alternatives document and data management. Seeing our product in action during the live demonstration built immediate confidence with Scott and his team,” said Hamish Warnock, Senior Relationship Manager at Canoe Intelligence. “We strengthened that trust through a successful pilot program and full implementation. We’re honored to support Hollyport’s tech evolution and are delighted by their positive onboarding experience. We look forward to helping them discover additional efficiencies and time-savings within the platform and explore how we can continue to add value to their operations through our other Canoe offerings.”
On July 9th, Canoe completed its Series C financing round of $36 million, led by Growth Equity at Goldman Sachs Alternatives. This marks a significant milestone for Canoe, representing a more than 3x increase in its company valuation. The additional capital will fuel Canoe’s strategic initiatives, global growth, and advancement of its AI-driven financial technology platform for alternative investors.
At the end of Q1, Canoe announced the commercial launch of Canoe Asset Data, an innovative solution to the industry-wide challenge of accessing and using complete, timely, and accurate asset-level data. Toward the end of 2023, Canoe released a number of new product offerings, including Canoe Pro, a comprehensive solution that integrates expert services into the client experience.
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About Canoe Intelligence
Canoe Intelligence empowers over 350 institutional investors, asset servicers, and wealth managers with innovative technology to manage alternative assets efficiently and accurately. Backed by recent growth milestones and a successful Series C financing round led by Growth Equity at Goldman Sachs Alternatives, Canoe continues to redefine the future of alternative investment management.
About Hollyport Capital
Founded in 2006, Hollyport is a specialist secondary investor focused on capturing value in legacy private equity assets. With a focus on providing bespoke liquidity solutions to LPs and GPs, Hollyport’s alpha is its ability to uncover hidden value and resolve complex situations by facilitating a clear alignment of interest among all parties. Since inception, Hollyport has raised eight secondary funds and currently has over $5bn of assets under management. Hollyport has a team of over 60 split between New York and London, where the firm is headquartered.
MEDIA CONTACT:
Betsy Miller Daitch
Canoe Intelligence
+1 443-690-6200
bdaitch@canoeintelligence.com
Hollyport Investor Relations
+44 (0)20 7478 3970
ir@hollyportcapital.com
