Software-as-a-Service (SaaS) platform for venture capitalists, Tactyc, has officially launched following a total seed investment of $1.5million.
Founded in 2019, Tactyc was set up with the aim of reducing and solving a number of problems faced by fund managers. The SaaS platform looks to enable fund managers to build and maintain complex spreadsheet models more easily and quickly. Tactyc claims that its platform reduces portfolio construction from weeks to minutes.
Tactyc’s “easy-to-use” platform also contains features for the forecasting and management of existing portfolios. The company explained that the platform has powerful GP analytics such as optimal reserve management and probabilistic scenario modelling.
MaC Venture Capital, a seed-stage investment firm, led the funding alongside 4DX Ventures, a pan-Africa-focused venture capital firm. In total, the company was able to raise £1.5million to begin operations. With the launch, Tactyc enters the market with over 160 clients globally. Its clients include multi-billion dollar funds and corporate venture arms.
In the last five months alone, the platform has more than doubled its revenue.
New horizons for venture capitalist portfolios?
Anubhav Srivastava, who founded the company in 2019, explained the issues he recognised for fund managers and how the platform can provide support for them. He commented: “We’ve seen that data-driven workflows are a leading indicator of actual fund performance.”
“However, today’s analyses still require complicated spreadsheets that are difficult to build and maintain. The spreadsheet ecosystem is also not flexible enough for real-time insights and scenario planning.
“Tactyc solves this with a seamless solution that combines sophisticated portfolio construction and management. Venture capitalists (VC) now have real-time insights on actual and projected performance combined with answers to commonly asked questions around reserves and exit scenarios. We empower every VC to deploy data-driven workflows at their fund quickly and without touching a spreadsheet.”
Raaid Ahmad, managing partner at 4DX Ventures commented: “At 4DX Ventures, we’re deeply aware of how critical data-driven portfolio construction is in determining overall returns and optimizing risk,”
“In our product evaluation as a client, we were impressed with the sophistication of Tactyc’s data model, which enables the modelling of advanced concepts like capital recycling, future deployment scenarios, and granular company outcomes.
“That depth combined with the rate at which Anubhav’s lean team was releasing features led us to progress from evaluating Tactyc as a customer to becoming a customer, and ultimately to investing in the company.”