Private markets investment firm Hamilton Lane announced today its partnership with and investment in Daphne Technologies, a platform facilitating distribution of alternative assets and digitizing of the fund raising process.
Hamilton Lane is taking a minority stake in Daphne, while also joining the board. The investment is alongside existing investors Apollo Global Management and Motive Partners.
Daphne has also integrated Hamilton Lane’s proprietary markets data, analytics, forecasting and diligence platform called Cobalt. Daphne allows for seamless data processing by which alternative asset managers may directly transmit fund information into Cobalt in what historically had been a manual process for both asset managers, their investors and channel partners.
“Hamilton Lane is deeply committed to partnering with leading technology providers to build tools for investors who seek diversified portfolios and exposure to value creation opportunities in the private markets,” said Griffith Norville, head of technology solutions at Hamilton Lane. “We are excited to partner with Daphne to seek to enable access for investors to more high-quality and timely data to help power informed investment decisions.”
Today, Hamilton has more than $124 billion in discretionary assets and approximately $796 billion in non-discretionary assets under management.
Using Daphne, asset managers can digitize fund data and publish it with a click of a button to multiple channels like institutional investors, investment consultants, IBDs and RIAs. This data can be transmitted via a web-based interface or API.
Founded in 2022 through a collaboration between Apollo and Motive Create (Motive Partners’ in-house innovation division), Daphne has found its user base growing rapidly. Apollo Global Management is an active customer of Daphne and uses the platform to publish its managed funds’ data online, manage its employee investment program and distribute data to select channel partners. Daphne has more than 50 alternative asset funds active on its platform and has been used by its customers to raise $625 million in assets.
“We are thrilled to partner with Hamilton Lane given their proven track record of making strategic investments in high-growth technology companies in alternatives,” said Daphne CEO Amit Gairola. “The Cobalt partnership is transformational for Daphne and unlocks asset manager adoption of the platform.”
Anchored by Cobalt, Hamilton Lane’s Technology Solutions are used by hundreds of investors worldwide to conduct private markets research, analytics, investment diligence, and portfolio construction. The platform has data on over 58,600 funds across all private markets and is used by Hamilton Lane’s global investment team to produce quantitative and qualitative market insights.