Adams Hub investment still showing promise
BaseVenture, an innovative new software as a service (SaaS) platform that’s transforming private fund management and administration, used the Finovate Spring 2016 Conference last week to unveil the company’s breakthrough cloud-based platform that simplifies and automates the operations and administration for thousands of private funds. Finovate was a two-day showcase of the latest innovations in financial technology (FinTech).
BaseVenture counts Adams Hub as one of its early investors, and has an office within the Adams Hub Business Incubator in Carson City.
Governor Brian Sandoval said, “We believe that Nevada is the next cradle of tech innovation. Adams Hub was created in part to identify and cultivate exciting young technology startups like BaseVenture in our capital city. We believe that smart investments in promising technology companies like BaseVenture will help increase Nevada’s competitive edge as an incubator for the next generation of innovators and entrepreneurs.”
John Pizzi, co-founder and CEO of BaseVenture said, “We are excited about the traction that we are quickly making in the market, as evidenced by our selection to present at Finovate Spring 2016. Our partnership with the Adams Hub is a competitive advantage, providing us with both an efficient way to grow and scale our operations in Carson City, as well as the platform to expand our business reach into the thousands of private funds, fund administrators, and private banks in the greater Nevada area.”
There are more than 50,000 private funds in the USA, spending billions of dollars a year to manage their operations and administrate their funds. The industry is fed up with the current model of outmoded and disconnected technology and inefficient processes, say BaseVenture’s founders. BaseVenture’s platform help fund managers, fund administrators, and private banks spend less time worrying about their operations, and more time focused on driving growth for their investors.
Private funds are big business in the United States. Money invested in private funds is expected to grow from $10 trillion to $18 trillion by 2020. Private funds or alternatives investments are the fastest growing category of investments, made up largely of real estate, private equity, and hedge funds. The management and administration today relies on inefficient and antiquated technology and processes.
BaseVenture’s platform simplifies, interconnects, and automates the middle and back office functions that are required to manage a fund by eliminating reliance on multiple disconnected tools like spreadsheets, email, pdfs.
Miya MacKenzie, chief professional officer at Adams Hub, said, “BaseVenture is representative of exactly the type of company that we want to attract to Carson City. We are so gratified with their progress and traction in the market, and we look forward to continuing to help the BaseVenture team to efficiently scale their operations and grow their business in Carson City and the state of Nevada.”
For more information on Adams Hub, contact Miya MacKenzie at 775-222-0001, or visit http://www.AdamsHub.com. For more information on BaseVenture, contact Chris Andraca at 775-222-0007, or visit http://www.BaseVenture.com.
Heather Ashbridge, who started with Nevada State Development Corporation in 2008, previously served in several roles with the organization, including assistant vice president and loan officer. She is based in NSDC’s Reno office.