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.
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:
1. Automate portfolio monitoring activities from ESG & financial data collection, standardizations and reporting.
2. 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.