bunch Raises $35M Series B to Replace Legacy Fund Operations

The private market fund operations platform bunch has secured $35 million in a Series B funding round to accelerate its commercial growth and expand its artificial intelligence capabilities across Europe. Portage led the investment round, which also included participation from Illuminate Financial along with existing investors Motive Partners, Cherry Ventures, and Fintech Collective. Founded in 2021, the company provides an integrated digital operating layer that replaces legacy, spreadsheet-based fund administration processes for private equity and venture capital managers.

This technology directly addresses the growing industry surge in alternatives to wealth initiatives , where alternative asset managers seek new pools of capital as traditional institutional demand becomes tapped out. By ingesting unstructured documentation and structuring key data, the platform helps reduce the transparency, research, and onboarding friction that typically persists when wealth management platforms adopt alternative investments. The platform helps financial firms manage the entire fund lifecycle by automating digital investor onboarding, capital calls, fund accounting, and tax reporting.

As alternative assets grow, structures like ELTIF 2.0 are expanding private wealth access to these complex vehicles. This influx of capital places significant operational pressure on wealth managers who must serve more investors while delivering rigorous reporting. Modernizing financial infrastructure through automated systems allows platforms and advisory firms to scale their alternative investment processes consistently without relying on outdated manual workflows.

MMnote: ELTIF 2.0 is essentially the European equivalent to what we see in the US come out as interval funds and non-traded BDCs. The Alts2Wealth craze is not specific to the U.S. and some would argue that it's even moving faster in Europe.

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