Today’s private capital markets have been built around manual processes. Whilst technological change is happening in parts, the ecosystem remains highly decentralised, disparate and siloed – with critical documents and data spread across different parties, in different formats.

Whilst this model has served the industry well to date, we are reaching a key juncture in private capital – which risks creating an unavoidable tipping point for the entire market. Investor volumes have spiralled over the last decade as firms have ‘stayed private for longer’ and created a negative jaw effect. Built on highly inefficient foundations, transaction costs for private capital issuers and investors have mushroomed – at the same time as cost pressures have intensified and regulatory scrutiny has increased.