Investment tech platform Jacobi raises $7.7m from Silicon Valley VCs

Jacobi's trio of founders (from left) Greg Knox, Tony Mackenzie, and Tanya Bartolini.

US and Australia-based investment technology platform Jacobi on Tuesday announced that it has raised A$11 million ($7.7 million) in additional funding from Silicon Valley venture capital firms Illuminate Venture Partners, 8VC, and Credit Ease Venture Fund.

Headquartered in San Francisco, Jacobi has extended its foothold in Australia through its partnership with JANA Investment Advisers. The company said it will use the fresh funds to further develop its platform and expand to new markets.

Founded in 2014 by investment professionals and technologists from Queensland, Jacobi is a cloud-based platform for multi-asset portfolio design, risk modelling, and client engagement.

Its clients include sovereign wealth funds, retirement funds, and asset and wealth managers in Australia, North America, Asia, and Europe representing combined assets under management of over A$1.5 trillion ($1 trillion).

“Jacobi’s global client base continues to grow at a fast pace. This is due to a greater focus on portfolio construction and risk which has largely come as a result of regulatory change,” said Jacobi co-founder Tony Mackenzie.

He added that the company will now extend its focus to the European market after signing a number of large institutional investment managers.

The capital raise also coincides with the launch of Jacobi’s office in London, in addition to facilities in Brisbane and San Francisco.

The additional funding came more than two years after Jacobi raised $2.2 million in a seed round led by San Francisco-based venture capital firm 8VC. The round was backed by PLG Ventures, Rincon Venture Partners, CreditEase Fintech Investment Fund, Illuminate Ventures, and LeFrak.

“We have been selective with capital raising and view our investors as strategic partners. As we scale into new markets, grow our team and broaden our offering, it’s important that we all share the same vision,” said Mackenzie.

Prior to co-founding Jacobi, Mackenzie was the chief strategist at Queensland Investment Corporation (QIC), an investment company owned by the Queensland government.