LemonEdge Lands $21m Series A to Modernize Private Markets
- Jul 30
- 2 min read
Updated: Jul 31
LemonEdge, a fund accounting platform built specifically for the private markets sector, has raised $21m in a Series A round as it works to speed product development and expand across the US and Europe. The round was led by Blackstone Innovations Investments, the early-stage venture arm of Blackstone, and included BNY alongside existing backer Sidekick Partners. The investment lifts the London and New York based company's cumulative funding beyond $30m.
Alongside the raise, LemonEdge strengthened its leadership. David T. O'Malley joins as chief executive officer and board chair, having previously served as president of Numerated Growth Technology before its acquisition by Moody's Analytics. Katharine Briggs was named chief growth officer, overseeing global go-to-market strategy, delivery and client growth. Founded in 2020, LemonEdge provides fund accounting and operations technology that runs private markets processes in real time within a single automated, auditable and governed system of record. Its clients include private equity firms, fund administrators and large family offices that together hold more than $2.5tn in assets under client management.
The round reflects rising interest in alternatives, where firms are building infrastructure to support private markets as demand broadens beyond institutions. CEO David T. O'Malley said global private market assets are forecast to reach $26.7tn by 2030, and that many firms remain constrained by legacy systems not built for today's complexity. LemonEdge plans to onboard new clients and deploy its 2026 and 2027 roadmap over the coming year, a signal of continued investment in the tools that make alternatives more accessible to advisors and platforms.
Knote: LemonEdge deserves to win. We love alts infrastructure. But also importantly, a lemon is ovoid and has no edges and that makes me smile.
