Eton Solutions, a wealth management technology firm based in the US, has announced the final close of its Series C funding round at $58 million, with Southeast Asia private equity firm Navis Capital Partners as lead investor.
The Series C financing, completed in two tranches, will be used to accelerate AI development and support global expansion of Eton Solution’s wealth management platform, AtlasFive, among other things, per the announcement.
The platform, Eton said, is used by over 800 single- and multi-family offices managing more than $1 trillion in assets globally. It manages more than 130,000 entities, 205,000 investments, and $65 billion in annual bill payments.
Its new products will target individuals with assets starting at $25 million and expand services beyond its core family office market.
“Our focus as we enter our second decade is reimagining how wealth managers across the board manage liquid and alternative investments for their clients, whether one or many,” said Satyen Patel, Executive Chairman at Eton Solutions.
Eton Solutions, with its US headquarters in North Carolina and international headquarters in Singapore, has a substantial presence in North America, Asia Pacific, Europe, and the Middle East.
The financing coincides with a global rise in ultra-high-net-worth families and the rapid expansion of family offices.
Deloitte estimates the number of single-family offices globally will grow from 9,030 in 2024 to 10,720 by 2030, with Asia Pacific expected to outpace North America in growth.
According to Rajendra Pai, Partner at Navis Capital, Eton’s technology has proven instrumental in helping family offices achieve greater efficiency and insight.
“Their platform has become essential infrastructure for managing complex wealth at scale,” Pai said.
Navis, the lead investor in the round, is raising its ninth flagship buyout fund, targeting a corpus of $1 billion. The firm is also aiming to raise $350 million for its inaugural debt fund. It currently manages over $5 billion in private equity and private credit capital.
The firm closed its new continuation vehicle at $230 million in February to partially exit its Southeast Asian K-12 school portfolio while securing follow-on capital to remain invested in the platform.
Navis also agreed to sell Southeast Asian smart card manufacturer dzcard Group to Japan’s Toppan Security.
