Private markets valuation technology firm 73 Strings has opened an office in Singapore, its first in Asia-Pacific, as fund managers in the region face heavier reporting demands and look to automate valuation and portfolio monitoring.
The Paris-headquartered company said the Singapore team will support alternative asset managers across Southeast Asia, Australia and the wider Asia-Pacific market, focusing on client servicing, local partnerships and hiring in private markets and AI-driven financial technology.
General partners and other private markets firms have been grappling with larger portfolios, more complex data and tighter scrutiny from investors and regulators, pushing them to increase the frequency and detail of valuation and performance reporting.
In response, a growing number of managers are moving away from spreadsheet-heavy processes and outsourcing toward software platforms that can extract information from fund documents and standardise data used in valuation models.
73 Strings said it has signed up a major sovereign wealth fund in the region, without naming the client.
The company’s pitch is that its platform can automate data extraction and labelling from documents, streamline valuation workflows and deliver more continuous portfolio monitoring.
Chief executive Yann Magnan said Singapore was chosen as a regional hub because of its concentration of private capital firms and institutional investors. The company did not disclose headcount targets for the new office.
The Singapore move adds to a broader build-out by 73 Strings, which already has offices in the United States, Europe, India and the Middle East, including Abu Dhabi and Riyadh, according to the company.
The expansion follows a $55 million Series B funding round announced in February 2025, led by Goldman Sachs Alternatives’ growth equity unit, with Blackstone Innovations Investments among returning backers and participation from investors including Golub Capital, Hamilton Lane and Broadhaven Ventures, the company said at the time.
Companies selling tools into the private markets back office have been courting Asian clients as allocations to private equity, private credit and infrastructure grow, and as investors demand faster, more transparent portfolio data, an area where many managers still rely on manual workflows.
Business News Asia
