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WEBSITE
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SECTOR
Financial Services
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INVESTMENT YEAR
2016
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STATUS
Current, IPO in 2021 (NYSE: ENFN)
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LOCATION
Chicago, IL
Enfusion
Provider of fully hosted front- to back-office solutions for hedge funds and asset managers, including execution, order management, portfolio management, risk, GL accounting, reconciliations, reporting and data warehouse.
Investment Theme
Alternative and traditional investment firms continue to shift away from legacy on-premises, client-server systems to native cloud-based front-to-back office integrated systems.
“FTV is a world-class team, and we are thrilled to have them as a partner on our journey. They are much more than just a PE investor – they really understand our business and our industry, both fintech and SaaS, and work closely with our management as a thought partner for the long term. Moreover, FTV has a powerful strategic network, which has benefitted us in countless ways – from opening doors for business development and growing our talent organization to expanding our organization internationally.”
BUILDING A LEADING END-TO-END, MULTI-TENANT SAAS SOLUTION FOR ASSET MANAGERS TO ENHANCE PERFORMANCE, ELIMINATE OPERATIONAL BARRIERS, AND REDUCE TOTAL COST OF OWNERSHIP
A global leader in investment management technology solutions and services, Enfusion is on a mission to remove key operational and technological barriers faced by all types of asset managers.
The vast majority of asset managers today still use multiple front-, middle- and back-office solutions, resulting in significant expense, complexity and instability in their businesses. But increasingly, they are realizing the limitations of outdated technology systems and embracing innovative software and services to improve efficiencies and meet clients’ evolving operational and data needs. Enfusion is focused on exactly that.
Since our original investment in 2016, Enfusion has grown top and bottom-line more than 4x, added five offices to expand geographic coverage and grown customers more than 3x. Today, Enfusion serves more than 650 investment managers from 10 global offices spanning four continents.
Enfusion continues to receive widespread attention for its leadership in fintech and for pioneering innovative solutions for the investment industry. In 2021, the company was named “Best EMS/OMS Provider” by the Fund Intelligence Operations and Services Awards and “Best Institutional Investment Solution” at the FinTech Breakthrough Awards. Previously, the company was recognized by Aite Group as “Best in Class” for its Front-to-Back Portfolio Management System in 2019 and was named “Best Managed Services Provider” at the 2020 HFM EU Services Awards.
In October 2021, Enfusion went public on the NYSE under the ticker symbol ENFN. We continue to believe that Enfusion has developed a highly differentiated and groundbreaking platform that is the new, modern standard for native-cloud asset management solutions.
FTV Value Add
C-level Talent Recruitment
As Enfusion rapidly scaled, FTV took an active role in building out the company’s leadership organization by collaborating closely with the founders to understand the company’s talent needs and develop a roadmap for evolving its leadership team. This included surrounding Enfusion’s founder and CEO with strong executive leadership in his pursuit of transitioning to a chairman role. FTV sourced and vetted numerous key executives, including a new CEO, CFO, CRO and CHRO. Collectively, we brokered introductions to 10 potential senior hires, as well as an independent board member.
Business Development
Leveraging our vast network in the financial services and technology sectors, FTV made more than 120 introductions to potential customers, partners, and acquisitions ranging from banks, asset managers, prime brokerages, technology vendors and service providers and several of which led to commercial contracts.
Go-to-Market Planning
Our team helped Enfusion successfully transition from a reactive inbound go-to-market strategy to a proactive outbound sales and marketing approach to accelerate growth and advised in scaling the company’s account management model to support continued growth. FTV Propel’s chief revenue advisor led a comprehensive assessment of the company’s go-to-market strategy, helped establish a new approach and played an intimate role in the planning and hiring of Enfusion’s new CRO, who was sourced from FTV’s network.
Operational Enhancements
FTV assisted in evaluating and building Enfusion’s product roadmap and technology infrastructure, as well as helping to improve internal reporting, budgeting and analysis.
M&A and Capital Support
Our team led diligence on several acquisition opportunities. Additionally, FTV provided efficient follow up secondary capital, helped recruit new strategic capital providers and supported the negotiation and diligence processes for additional funding solutions, including debt.
International Expansion
FTV helped expand Enfusion’s presence in Europe and Asia, which is its fastest growing region today, including support with team build out and operations. Specifically in Asia, FTV assisted with the opening and growth of the Indian delivery and development team based on past experience in the region.
Exit Preparation
Given our decades of experience in leading companies to successful exit outcomes, FTV provided significant advice and guidance on Enfusion’s exit strategy and eventual public offering. We assisted in ongoing conversations with interested strategics and with bankers throughout the IPO process.