New York based alternative asset industry technology solutions provider LUX Fund Technology and Solutions has raised a $6m Series A round from Credit Suisse Asset Management's NEXT Investors.
Transcend provides a cost-effective solution for alternative asset managers seeking to automate manual processes across the organization. Transcend systematizes the integration of traditional and alternative data from multiple sources, supporting cross-functional analytical reporting as well as structured and ad hoc queries in order to facilitate and improve decision-making. "After six years of working with nearly 70 hedge funds, we realized the need to automate traditional bespoke software development, reduce resource dependency, and improve time to implement. Transcend takes the manual processes across a hedge fund and puts them into a platform that is more robust, and less error-prone. Managers can focus on the business of investment using our enhanced data and reporting."