Fintech
S64 Successfully Closes Series A Funding Round
The global partner of alternative solutions and fintech for the wealth management industry, S64 successfully closed its Series A financing round, which includes investments from HPS Investment Partners and Sumitomo Mitsui Trust Bank, two major institutional investors.
The new capital and strategic partnerships will accelerate S64’s growth and expansion strategy by enhancing its cutting-edge product manufacturing capabilities and proprietary technology platform. This investment will support the companies’ ambition to unlock growing demand from private investors seeking access to a leading range of global alternative investment opportunities.
Tarun Nagpal, founder and CEO of S64, said: “We are delighted to have the support of esteemed investors such as HPS Investment Partners and Sumitomo Mitsui Trust Bank. This funding round marks a significant milestone for S64, enabling us to continue to innovate and deliver private markets opportunities to the wealth management industry in Europe and Asia Pacific. The combination of our market-leading technology and product manufacturing capabilities, along with the strategic support of our investors, places us in an exceptional position for future growth and expansion.”
Tom Wasserman, managing director of HPS Investment Partners, responsible for the firm’s strategic equity investments, said: “We are thrilled to partner with S64, a firm with an exceptional team and compelling offerings to transform access to private market investing for wealth managers. We believe S64 is well positioned to capitalize on the growing demand for alternative investment solutions and we look forward to supporting their journey and continued success.”
Futoshi Itani, head of investor services at Sumitomo Mitsui Trust Bank, added: “Sumitomo Mitsui Trust Bank is pleased to participate in this investment round together with HPS Investment Partners. As one of the largest institutional investors in the country, we provide gatekeeping services to major domestic institutional investors and maintain a broad network with domestic and overseas investment managers. We aim to leverage our wealth management expertise and S64’s leading product solutions and technology platform to provide private assets, which were previously only accessible to major institutional investors, to small/medium institutional investors and individual investors in Japan. Through our strategic partnership, we will be able to consolidate our global presence in private assets, while also helping to enhance S64’s global presence.”
The Series A funding follows an initial investment led by AltamarCAM Partners (40% owned by Permira Growth Equity) and including, among others, Pollen Street Capital and ACE & Company, whose early and ongoing support has been instrumental in S64’s journey.