BCI invests in ClearMacro

The management and staff of the company will maintain a majority stake and its current management team will remain unchanged, while a representative from BCI will take a seat on the board.

Unquote understands BCI used ClearMacro's product and, with the assistance of an external adviser, came to invest in the company.

BCI, a Canada-based LP direct investor, has made investments in several European companies. These include UK-based insurance broker BMS Group and Netherlands-based Refresco. Most recently, the asset manager acquired a minority stake in Castik Capital-backed Waterlogic.

ClearMacro is currently hiring.

Previous funding
Startup Funding Club participated in a £1.9m funding round in 2015 and a £2m funding round in 2016. Private investors also participated in the fundraising.

Company
Headquartered in London, ClearMacro builds software and services that are intended to help asset owners and advisers to improve the portfolio impact of their asset allocation decisions. The company was founded in 2014 and employs 14 people. It generates revenues of less than £15m.

People
ClearMacro – Mike Simcock (CEO).
British Columbia Investment Management – Mihail Garchev (vice-president, total fund management).

Advisers
Equity – Latham & Watkins (legal).
Company – Dentons (legal).

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• Topics
• Expansion
• UK / Ireland
• Technology
• United Kingdom
• Minority investing