Northern Trust migrates Emerald Technology Ventures to Broadridge’s private equity blockchain solution

Four of the venture capital firm’s funds move to blockchain-based platform for private equity which provides real-time access to data and a full view of the fund lifecycle.

By Jonathan Watkins

Northern Trust’s venture capital client Emerald Technology Ventures will use Broadridge’s Private Market Hub ecosystem for greater transparency and efficiency in managing the private equity fund lifecycle. 

The deal comes two years after Northern Trust sold the intellectual rights of the platform to Broadridge. Emerald Technology Ventures was one of the early adopters when Northern Trust deployed smart contracts on the platform. 

Now under Broadridge’s guidance the venture capital firm will use the platform to gain visibility and reduce transaction friction to interact in real-time on all Guernsey domiciled funds.  

The Private Market Hub is one of the industry’s first deployments of blockchain technology for the private equity market, as it looks to solve the industry challenge of transparency by providing real-time access to data and a full view of the fund lifecycle.  

It provides connectivity to existing industry tools and technologies to help further automate workflows between front-, middle- and back-office functions. The solution enables investment managers to manage, communicate and engage with investors and other stakeholders with greater efficiency and data transparency, streamlined through a distributed ledger technology. 

“We are pleased to have worked with Northern Trust and Broadridge on development of the Private Market Hub, using blockchain technology to deliver a full private equity ecosystem,” said Hans Dellenbach, partner and chief financial officer at Emerald Technology Ventures. “Through the use of the Private Market Hub, we now can directly interact in real-time and have a full, 360-degree view of all of our Guernsey domiciled funds, giving us better oversight and flexibility moving forward.”  

Northern Trust has successfully migrated four Emerald Technology Ventures funds to the Broadridge Private Market Hub. Emerald Technology Ventures funds can now call and distribute funds directly through Private Market Hub and seamlessly process the fund lifecycle through an automated workflow solution. 

“We are excited to have Emerald Technology Ventures join our groundbreaking Private Market Hub platform, which enables a frictionless digital experience for private equity stakeholders and participants,” said Brian Crowley, global head of product and product strategy, Broadridge Asset Management Solutions. “Investors have shown an increased interest in private assets over the past decade amid a search for returns, and Broadridge is creating innovative technology-based solutions to create better operational structures and scalability.”

Broadridge released the latest update of its Private Market Hub platform using Amazon Managed Blockchain from Amazon Web Services (AWS) in June this year.