UK-based Bite Investments, a technology provider for alternative asset managers and family offices, has raised a $25 million strategic growth investment from US private capital firm NewSpring Capital, earmarked for team expansion and scaling its flagship Software-as-a-Service (SaaS) platform, Bite Stream.
Founded in 2019 by VCP Advisors chief Henry Talbot-Ponsonby and CEO William Rudebeck, Bite Investments launched its Bite Stream platform in 2022. The platform offers end-to-end solutions designed to streamline the entire investment process for alternative asset managers and family offices. Its functionalities include tools for fundraising, investor relations, onboarding, reporting, and data management.
The $25 million investment, made through the NewSpring Growth fund, follows previous funding rounds for Bite Investments. In April 2020, the company secured a $3 million seed round co-led by Apex Fund Services and VCP Advisors. An undisclosed pre-Series A+ round was also completed the following year, headed by JMP Group in San Francisco.
With the new capital, Bite Investments plans to expand its current team of 70 employees. The company also recently merged with UK wealthtech firm Untap in February, integrating Untap’s portfolio monitoring and reporting capabilities into Bite Investments’ core offering to enhance its platform’s comprehensive suite of services.
