LemonEdge raises $21 million from Blackstone and BNY for fund accounting

Founder Gareth Hewitt is handing the scaling job to former Numerated president David O'Malley as LemonEdge expands in the US and Europe.

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Primary source: PR Newswire

Why it matters

Blackstone and BNY are backing software for the private-markets system of record, an area where switching costs are high and strategic investors can provide credibility with institutional buyers.

Illustration of LemonEdge founder Gareth Hewitt handing a ledger to incoming leader David O'Malley, symbolizing growth in fund accounting and institutional finance.

LemonEdge, the fund-accounting software maker founded by Gareth Hewitt and Jamie Nascimento, announced a $21 million Series A on July 29th, pairing the financing with a leadership handoff designed to turn a founder-built accounting engine into a larger enterprise software business.…

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