Gen II Fund Services Buys Update Capital
Posted on 03/14/2022
New York-based Gen II Fund Services, LLC, an independent fund administrator in the alternative’s investment space, announced the acquisition of Update Capital, an investment management technology solutions company for the real estate asset class. Founded by Ran Kohavi and Itamar David, Vancouver-based Update Capital provides an automated, cloud-based solution for real estate sponsors to manage their assets, engage their investors, and connect with new prospects. The product offers asset-level data as well as financial and transactional data providing visibility to both the manager and investors. Ran Kohavi, Co-Founder and CEO of Update Capital, will join Gen II as Chief Product Technology Officer.
In November 2020, General Atlantic and Hg, a global software investor, made an investment in Gen II Fund Services. IHS Markit also made an investment in Gen II Fund Services. Cobepa S.A. kept a level of ownership in the company.