Venture capital fund manager VentureSouq (VSQ) has selected SS&C GlobeOp to provide its fund administration services for its fintech range.
The mandate includes the fund administration of two funds, one management company and four co-investment vehicles.
As part of the agreement, VSQ will also use SS&C GlobeOp's private markets fund services to support its treasury, investor services, process workflow and accounting solutions.
Additionally, the fund manager will utilise SS&C's automated payment system, distribution and investor notices processes.
Established in 2013, VSQ manages thematic funds, with a current focus on fintech and climate technology.
GlobeOp, a business division of SS&C Technologies, is a global provider of cloud-based fund services, technology and mobility-enabled infrastructure for hedge funds, fund of funds, private equity and managed account managers.
Suneel Gokhale, co-founder and general partner at VentureSouq, says: “SS&C's comprehensive solutions will enable us to optimise 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."
Bhagesh Malde, general manager, head of SS&C GlobeOp, adds: "We are excited to support VentureSouq with cutting-edge technology and hands-on service as they grow in the MENA market. As the global venture capital markets get more complex, our goal is to ensure our customers can bring efficiency and automation to their operations."
