New NC start-up builds platform to help VCs manage their portfolios
A Morrisville, NC start-up that has built a software-as-a-service (SaaS) platform that enables venture capital funds to manage and forecast their portfolios has launched with $1.5 million in seed funding backing.
Tactyc, the first software solution to address venture capital portfolio forecasting and planning, has announced its official launch as a result of the funding that was led by MaC Venture Capital, a leading seed-stage investment firm, and 4DX Ventures, a Pan-Africa focused venture capital firm.
According to this news release, Tactyc is entering the market with more than 160 clients globally ranging from emerging managers to multi-billion dollar funds and corporate venture arms. The company has more than doubled its revenue in the last five months.
Tactyc was founded in 2019 by Anubhav Srivastava, a Wharton MBA graduate who set out to solve many of the pain points fund managers face today in building and maintaining complex spreadsheet models for their portfolios. Tactyc’s platform simplifies the “portfolio construction” process from weeks to minutes. It also enables managers to forecast and manage existing portfolios with powerful GP analytics such as optimal reserve management and probabilistic scenario modeling.