SummaryEdit
On a mission to automate a manual legacy in private equity (PE), HERMESNET is being designed to automate ESG & financial data collection, portfolio monitoring & reporting using blockchain tech. With a prototype & 70+ PE funds helping identify product-market fit, they are raising to launch the product.
- In-house research shows that our product could free up an est 80% of time for value-added tasks
- Product-market fit identified with 70+ PE funds
- Experienced founders: senior roles in field
- Launches of ESG vehicles jumped by almost half in 2020
IdeaEdit
We founded HERMESNET in 2021 as a response to what we believe is a lack of automation in the fast-growing PE market, predicted to see AUM grow to $5.8tr by 2025. According to KPMG, many PE firms still rely on Excel-based tools for data collection, storage, & analysis. This problem has been exacerbated by the growing need for Environmental Social & Governance (ESG) data collection.
Aiming to create a solution with the intention of enabling PE firms to:
- Automate portfolio monitoring activities from ESG & financial data collection, standardizations and reporting.
- Create single source of trust enabling immutable databases on a blockchain.
Our SaaS business model will target PE firms including GPs, LPs & Fund of Funds, with a simple model leaving out complex integrations.
More than half the money that flowed into EU funds last year went into sustainable products with $1.4tr toward strategies with ESG considerations.
So far, we've:
- Identified business model & product-market fit with +70 LPs and GPs (who collectively have £20B AUM)
- Completed web app prototype on Ethereum blockchain
- Built a team of entrepreneurs with IT, PE & investment backgrounds from LSE, Calypso Technology & Deutsche bank
- Co-founders with CFA backgrounds, and Tech Nation endorsed CEO as a Global Talent in digital technology.
With this fundraise we aim to launch our product, grow the team & acquire first clients.
TeamEdit
Iurii Riabykin(CFA, MCSI), CEO & Co-Founder: Experienced blockchain founder with a substantial Investment Banking background. Working as a fund manager and is a member of globally respectable investment societies CFA & CISI. Iurii was endorsed by the Tech Nation as a Global Talent in digital technology.
Mark Cowley, Managing Director & Co-Founder: Over a decade of experience in private and listed investments within CEE. Worked at a senior level within organizations including Lazard, Nomura, MC Securities. Has a broad range of skills inc. equity sales, accountancy, and investor relations.
Shaun Choudhary (CFA), Head of Investor Relations & Co-Founder: Years of experience in strategic consultancy inc. a Group CFO position. Gained his experience at ICBC Standard Bank Plc, working on debt, equity and M&A transactions. An experienced financial professional.
Alexey Babkin, CTO & Co-Founder: Many years of experience in IT, digital founder and CTO in investment banking working for corporations inc. Deutsche Bank, Societe Generale, and Calypso Technology.
Md. Sadek Ferdous (PhD), Blockchain Expert: +6 years' research and development practice in digital identity and blockchain inc. Imperial College Business School.
The Technology Fellow at The UK Cabinet Office till the end of January 2018