US-based assets data indexing software developer OpenInvest closed a $10.5m series A1 round yesterday backed by ABN Amro Ventures, the corporate venturing arm of financial services provider ABN Amro.
The round was led by venture capital firm QED Investors and included SystemIQ, an incubation and advisory vehicle for circular economy think-tank Ellen Macarthur Foundation, in addition to asset manager Resolute Investment Managers.
OpenInvest has built a software platform where private stocks in the environmental, social and governance space can be purchased without using an intermediary such as a fund manager: an approach called direct indexing.
The series A1 brings OpenInvest’s total funding to $23.8m since it was founded in 2015 and will support its growth objectives.
QED Investors led a $10.4m series A round for the company in mid-2018 that included SystemIQ, Yard Ventures, Andreessen Horowitz, Wireframe Ventures and Abstract Ventures. The latter three had joined SV2 in a $3.3m seed round the previous year.