Kayenta Ltd (“Kayenta”), developers of hedge fund treasury software, announced today that they have closed a capital raise.
The capital will be used to expand R&D resources and accelerate product development tailored to the needs of their hedge fund clients. Kayenta builds cloud native, API driven software that gives investment managers unparalleled transparency into their financing costs. The robust base offering with optional modules such as financing wallet, security level reconciliation, and securities finance data offers clients the opportunity to build the system that best fits their needs and price point.
The lead investor, South Street Securities Holdings, Inc. (“South Street”), operates a leading repo dealer through its wholly owned broker dealer subsidiaries. Additionally, affiliates of South Street include technology company Matrix Applications, LLC, asset management company South Street Capital Management, and service-disabled veteran and minority owned broker dealer AmeriVet, LLC.
Commenting on the investment, South Street’s Managing Director Tony Venditti said, “South Street is excited to partner with Kayenta. They are a great complement to our existing business. We are confident in the Kayenta management team and this should be a win-win for both sides.”
The investment was oversubscribed. In addition to South Street a consortium of investors with deep knowledge and background in both the hedge fund and prime brokerage space participated in the offering. The commitment from market professionals demonstrates the widespread support for Kayenta’s product.
“This is an exciting partnership for Kayenta. Clients’ buy-in has been fantastic and this capital raise will help accelerate our product delivery and ability to scale. The South Street management team will bring valuable experience and together we are confident we will deliver the market leading treasury technology solution.” Chris Hagstrom, Kayenta CEO.