US-based private equity firm K1 Investment Management has made a USD 120 million investment in New York-based Compliance Science, a fintech in the regulatory technology space.
The company, operating as ComplySci, is a developer of regulatory and employee compliance software for wealth management firms and other financial services enterprises. ComplySci is considered a regtech company. It serves broker-dealers, registered investment advisers, hedge funds, private equity firms, investment advisers, venture capital firms and other businesses across the financial services sector to identify and mitigate employee regulatory and compliance risks.
The K1 investment will support Comply-Sci’s expansion efforts with its 1,400 customers. Furthermore, ComplySci plans to leverage K1’s investment to build out its platform. These include processes to verify political contributions, compliance program management and recently launched products to track employee activities to identify potential conflicts of interest and market abuse.
Existing investors will retain their stakes in ComplySci following K1’s investment. The company did not identify other investors.
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