A Bloomberg Terminal is a platform that is the industry standard and is used by professionals to acquire real-time data and insights into the financial markets. Anyone who has worked in a capacity that is even slightly related to the public markets would have at least heard of Bloomberg Terminal.
In point of fact, the Bloomberg Terminal is a very helpful instrument for traders, brokers, analysts, and anybody else interested in the public markets; despite its high cost, however, it is well worth the investment. However, private sector investors like venture capitalists and private equityists may not have as easy of access to the information they need to do their homework before making a major investment or to monitor and manage their portfolios effectively from inception to sale.
However, this is an issue that the French startup Edda is working to address by developing a platform that will assist investors, analysts, chief financial officers (CFOs), and even company founders in obtaining the insights they require as well as the tools that will make working collaboratively on deals that much easier.
Edda was initially established in 2017 under the name Kushim VC. However, the company has just finished its official rebranding to Edda, and it has also announced that it has raised $5.8 million in funding from a variety of investors, such as iPhone co-creator Tony Fadell’s Future Shape; Mucker Capital; Plug&Play; FJ Labs; and angel investor Arnaud Bonzom. Its new investors are also fully signed-up members of the Edda platform, as are about one hundred additional investment businesses covering a total of 26 nations, including the French state investment bank BPI France.
Fabrice Grinda, a founding partner of FJ Labs, was quoted in a release as saying that Edda would “transform how investors view their fund and manage their dealflow and relationships.” Grinda was referring to the way that Bloomberg changed the capacity of an industry to function. “Over the course of the previous decade, venture capital and private equity in general have gone from strength to strength, expanding into new industries and becoming the cornerstone of innovation investment.”
So what, precisely, does Edda provide people operating in the private investment space?
“Edda allows safe transparency for everyone managing an investment portfolio,” Clément Aglietta, cofounder and CEO of Edda, noted. “This covers everything from deal-sourcing through due diligence and finance all the way through portfolio administration.”