FinAnalytica Case Study

Series A Fundraising

  • One of the earliest venture capital deals in Bulgaria (2008) that marked the emergence of the country’s VC industry.
  • FinAnalytica (now part of FactSet) was a financial services software provider, whose solution for market risk management, portfolio construction and investment decision analytics is used by hedge funds and other institutional investors globally. The company had four international patents related to a proprietary methodology for calculating Value at Risk (VaR).
  • FinAnalytica contacted SORTIS Invest to assist in raising Series A financing for its further development. The Company already had a term sheet from a US investment fund but was not satisfied with the terms of the proposed transaction.
  • SORTIS marketed the opportunity to additional financial investors and secured a more competitive proposal from New Europe Venture Equity (NEVEQ), a Bulgaria-based tech venture capital investor that, at the time, was in the process of closing its first fund.
  • Company owners and management were able to select an offer that aligned better with their interests.
  • Ultimately FinAnalytica closed a deal for a $5M investment from NEVEQ. One year later NEVEQ did a follow-on investment of additional $3M in the Company.