Wealthtech Jacobi raised $7.5m for EU expansion
Investment technology platform Jacobi has raised AU$11 million ($7.5 million) from US investors, including Silicon Valley venture capital firms, Illuminate Venture Partners, 8VC and Credit Ease Venture Fund.
The funds will be used to support further development of the Jacobi platform and expansion into new markets.
The firm has clients in Australia, North America, Asia and Europe, representing combined assets under management of over AU$1.5 trillion ($1 trillion). Jacobi’s clients include sovereign wealth funds, retirement funds, asset and wealth managers and investment consultants.
“Jacobi’s global client base continues to grow at a fast pace. This is due to a greater focus on portfolio construction and risk which has largely come as a result of regulatory change,” comments Jacobi’s co-founder, Tony Mackenzie. “Investors are now more focused on asset allocation and client outcomes than ever before, and they require flexible technology that is purpose built for the multi-asset investor”.
Mackenzie adds: “Jacobi’s solution allows clients to customise the platform, such as incorporating their own investment models, risk engines, forward projections and dashboard needs. This allows clients to scale and simplify their entire investment process”.
Jacobi will now extend its focus to the European market after signing a number of large institutional investment managers. The capital raise also coincides with the launch of Jacobi’s office in London, building on locations in Brisbane and San Francisco.
Jacobi is a cloud-based technology platform for investment portfolio design and engagement, founded in 2014 by former QIC executive Tony Mackenzie, Tanya Bartolini and Greg Knox.
Jacobi recently partnered with investment consultant JANA Investment Advisers.