VentureSouq Selects SS&C for Fund Administration

Rhea-AI Summary

SS&C GlobeOp appointed as fund administrator for VentureSouq's fintech investment vehicles

Positive

• VentureSouq has chosen SS&C GlobeOp as its fund administrator for its fintech range
• SS&C's comprehensive solutions will optimize VentureSouq's operations and reduce operational risk
• SS&C's expertise and extensive service offering in the Middle East impressed VentureSouq
• VentureSouq will leverage SS&C GlobeOp's private markets fund services, including fund administration, treasury, and investor services
• SS&C's technology and hands-on service will support VentureSouq's growth in the MENA market
• SS&C aims to bring efficiency and automation to their customers' operations

Negative

• None.

SS&C GlobeOp will administer seven fintech investment vehicles

WINDSOR, Conn., Oct. 19, 2023 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced VentureSouq, a global venture capital fund manager, has appointed SS&C as a fund administrator for its fintech range. The Dubai-based firm is the latest MENA private markets manager to sign with SS&C GlobeOp, the world's leading fund administrator and transfer agent. VentureSouq's mandate includes two funds, one management company and four co-investment vehicles.

"As a thematic investor with a global portfolio, we were looking for a provider with a global presence and the ability to provide a single point of contact regardless of jurisdiction," said Suneel Gokhale, Co-Founder and General Partner at VentureSouq. "SS&C's comprehensive solutions will enable us to optimize our operations and reduce operational risk. We've also been impressed with SS&C's expertise and extensive service offering, including on-the-ground support in the Middle East."

VentureSouq will use SS&C GlobeOp's private markets fund services to support its funds, including fund administration, treasury, investor services, process workflow and accounting solutions. The fund manager will leverage SS&C's automated payment system, simplified call/distribution and investor notices process and a complete audit trail of reporting deliverables.

"We are excited to support VentureSouq with cutting-edge technology and hands-on service as they grow in the MENA market," said Bhagesh Malde, General Manager, Head of SS&C GlobeOp. "As the global venture capital markets get more complex, our goal is to ensure our customers can bring efficiency and automation to their operations. We look forward to helping VentureSouq streamline their workflows so they can focus on growth."

 Learn more about SS&C fund administration services here.

About VentureSouq
VentureSouq (VSQ) is a MENA-based venture capital fund manager with a global portfolio. VSQ manages thematic funds, with a current focus on FinTech and ClimateTech. Established in 2016, VentureSouq has operations in the UAE, Egypt and Saudi Arabia and has invested in over 200 companies worldwide. 

About SS&C Technologies
SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 

Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.

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SOURCE SS&C

FAQ

Who has been appointed as the fund administrator for VentureSouq's fintech range?

SS&C GlobeOp has been appointed as the fund administrator for VentureSouq's fintech range.

What services will VentureSouq receive from SS&C GlobeOp?

VentureSouq will receive private markets fund services from SS&C GlobeOp, including fund administration, treasury, and investor services.

What are the benefits of choosing SS&C GlobeOp as the fund administrator?

Choosing SS&C GlobeOp as the fund administrator will optimize operations, reduce operational risk, and provide access to comprehensive solutions.

What market will SS&C GlobeOp support VentureSouq in?

SS&C GlobeOp will support VentureSouq in the MENA market.

What is SS&C's goal for their customers?

SS&C aims to bring efficiency and automation to their customers' operations.