Digital asset management platform Carne Group has received a $100 million investment.

The money will be spent on expanding the Group’s proprietary Compliance Oversight Risk & Reporting (CORR) technology and will see investor Vitruvian Partners take a minority stake in the businesses.

Carne’s CORR tech, which is already being used to oversee $2 trillion in assets, helps asset managers fulfil their compliance and risk requirements through automated data acquisition and real-time reporting.

The investment is still subject to regulatory approval.

“At Carne our goal is to provide asset managers and institutional investors with solutions that lead to better investor outcomes,” said John Donohoe, founder and group chief executive, Carne. “We are focused on transforming the asset management industry through our proprietary CORR technology, hiring the best talent globally, and building client led, trusted solutions.

“In Vitruvian, we found a partner with a shared vision and the experience and intellectual capital to help us bring further innovation to the industry. Together we can build and deliver better outcomes resulting in a win-win for both asset managers and investors.”

Stephen Byrne, partner, Vitruvian Partners, commented on the investment: “We look for capital investment opportunities that are redefining industries, and this is exactly what attracted us to Carne.

He added: “Its ability to grow into a global trusted brand within an industry valued at over $110 trillion is testament to its business model and the strength and expertise of the management team.”

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