Epiphany Ventures announces investment in iLevel Solutions

By Team YS|18th Feb 2011
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Epiphany Ventures today announced it has co-invested in iLevel Solutions, a leading provider of private equity software and reporting solutions. Swift River Investments, Egis Capital and Epiphany Ventures, have together invested $6 million in this round.

Commenting on the development, Gaurav Saraf, Director, Epiphany Ventures said, “Post the economic crisis, LPs and GPs keep a much closer watch on investment performance. iLevel offers a path-breaking solution, which has the potential to become the industry standard for investment monitoring and analysis. A proficient management team of the highest pedigree and a largely untapped market, make this a business with high growth potential over the coming years.”


iLevel was established in January, 2009 as a technology spin-out from The Blackstone Group (NYSE: BX) in order to commercialize a number of proprietary technology solutions developed at Blackstone. "The PCRS platform was originally developed internally by Blackstone five years ago to establish a structured process to automate and streamline the collection, analysis and reporting of portfolio company data for the firm's private equity portfolio," stated Harry Moseley, Senior Managing Director and Chief Information Officer of The Blackstone Group. "Blackstone had invested substantial time and money into the development of PCRS which we believe can provide tremendous value to the alternative investment industry far beyond deployment within Blackstone. With iLevel's new investors and ownership, Blackstone has fulfilled its commitment to establish iLevel as an independent company focused on developing strategic solutions for our industry."


The typical process of collecting, managing and analyzing data across portfolio investments is manual, complex, labor-intensive, and prone to errors and misinterpretation of critical information. Through the use of PCRS, investment professionals are able to access critical fund and portfolio investment data along with key financial and operating metrics with ease and speed. Information is available through flexible Excel dashboards which leverage data stored in the underlying PCRS relational database, pre-defined reports and user-defined analytics for instant insight into critical metrics. With PCRS, the focus of finance resources, analysts and deal teams shifts from data collection to analysis, reporting, risk mitigation and investing in new opportunities.


"iLevel Solutions provides a comprehensive technology platform that has already delivered substantial value to a number of the world's leading private equity funds and their limited partners," stated Robert Chefitz, Managing General Partner of Egis Capital Partners. "iLevel's combination of proven technology and domain expertise in the alternative investment market has fueled its early growth and adoption. This investment will help the company continue to solidify its position as a leader in portfolio analysis and reporting through deeper business alliances, innovative application development, and aggressive expansion."


"In today's increasingly dynamic business climate, private equity professionals and limited partners alike require rapid access to high quality investment metrics, performance information and actionable analysis," stated David James, Managing Partner of Swift River Investments. "iLevel's PCRS platform is a breakthrough for private equity firms looking to achieve greater visibility into their investments while providing greater transparency, speed, and frequency of reporting to their investors."


"We are delighted to have the support of these accomplished and highly respected investment groups to drive the next phase of iLevel's aggressive growth plans," said Rick Kushel, CEO of iLevel Solutions. "We evaluated a number of different financing alternatives and sought to partner with these organizations for their experience in working with emerging companies with strong growth potential and their deep understanding of the alternative investment market."

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