Apex Group has acquired Mainspring, a UK-based provider of venture capital fund administration and accounting services.
The addition of Mainspring adds 70 employees in two UK offices, and assets under administration (AuA) of £9.7 billion to Apex Group. This is comprised of £3.7 billion on Mainspring’s Investment Platform which provides private markets funds and deal custody, and £6.0 billion of venture capital fund administration.
Through this acquisition, Mainspring’s clients will benefit from Apex Group’s global perspective, access to a network of local experts and a wide range of services including Digital Banking and ESG Ratings & Advisory. Apex Group’s services are provided through a single relationship, offering efficient, scalable solutions and enabling growth and expansion into new jurisdictions.
Read more: Private Equity Wire
