Private Investment Industry Rotten to Its Core: "bunch" Challenges Outdated Systems
Did you know that private market investors are forced to toil in the dark ages, relying on ancient infrastructure and manual uploads to manage their investments? It’s like trying to navigate a pre-internet era, folks!
Thankfully, a Berlin-based upstart called "bunch" has finally dared to challenge the status quo, securing $15.5 million in its Series A round to revolutionize the archaic practices of venture capitalists. And by "revolutionize", we mean replacing the dusty old manual methods with sleek, modern software that lets investors store, analyze, and manage their investments with ease.
These brave entrepreneurs, Levent Altunel and Enrico Ohnemüller, founded bunch in 2021 with the bold intention of modernizing the private investment industry. No more manual data entry, no more PDFs and Excel files galore! bunch boasts an AI-powered platform that streamlines workflows, automates tasks, and puts the spotlight on what matters most – finding and managing lucrative investments.
Private markets are growing at an astronomical rate, and bunch is hell-bent on capitalizing on this trend. As the IPO window stays firmly shut, investors are turning to private markets like a parched traveler heading for an oasis. Secondary markets, anyone? Yes, you heard that right – the market has ballooned from $35 billion in 2017 to a whopping $138 billion in 2023!
And before you can say "bunch" three times fast, the private asset management market is expected to hit an eye-popping $40 TRILLION by 2030. It’s clear that bunch’s AI-driven approach is precisely what the industry needs to stay relevant. Or should we say, keep pace?
So, who are these trailblazers behind bunch? Among them is Levent Altunel, who confidently declared to TechCrunch that VCs today operate like bookkeepers and accountants. No thanks! bunch’s founder believes it’s time to cut through the drudgery, streamlining the process to enable investors to focus on what really matters.
Partnerships with the likes of Cherry Ventures, Motive Ventures, Broadhaven Ventures, and TinyVC indicate that the winds of change are picking up pace. Even esteemed investor, Toby Triebel from FinTech Collective, believes bunch is spearheading the industry’s evolution into the digital age.
As an aside, let’s not forget about all the silent investors who see the light – those anonymous AngelList investors who quietly threw their hats into the bunch ring! We wouldn’t be surprised if word of their involvement spreads, influencing others to follow suit!
With the private investment world still in its Stone Age stages, bunch has arrived to bring lightning-fast modernity to the party! Are they the revolution our industry so desperately needs? We might just be witnessing the private market’s dawn of a new era.
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