Private equity firms Epiphany Ventures, Swift River Investments and Egis Capital have together invested $6 million in iLevel Solutions, a leading provider of private equity software and reporting solutions.
Gaurav Saraf, Director, Epiphany Ventures, said, “Post the economic crisis, LPs and GPs keep a much closer watch on investment performance. iLevel offers a path-breaking solution, which has the potential to become the industry standard for investment monitoring
and analysis. A proficient management team of the highest pedigree and a largely untapped market, make this a business with high growth potential over the coming years.”
iLevel was established in January, 2009 as a technology spin-out from The Blackstone Group to commercialize a number of proprietary technology solutions developed at Blackstone.
Harry Moseley, Senior Managing Director and Chief Information Officer of The Blackstone Group, said, “With iLevel's new investors and ownership, Blackstone
has fulfilled its commitment to establish iLevel as an independent company focused on developing strategic solutions for our industry."
"iLevel Solutions provides a comprehensive technology platform that has already delivered substantial value to a number of the world's leading private equity funds and their limited partners," stated Robert Chefitz, Managing General Partner of Egis Capital Partners.
"In oday's increasingly dynamic business climate, private equity professionals and limited partners alike require rapid access to high quality investment metrics, performance information and actionable analysis," stated David James, Managing Partner of Swift River
Investments.
"iLevel's PCRS platform is a breakthrough for private equity firms looking to achieve greater visibility into their investments while providing greater transparency, speed, and frequency of reporting to their investors," he added.
With iLevel’s PCRS platform, investment professionals are able to access critical fund and portfolio investment data along with key financial and operating metrics with ease and speed.
"We are delighted to have the support of these accomplished and highly respected investment groups to drive the next phase of iLevel's aggressive growth plans," said Rick Kushel, CEO of iLevel Solutions.