Mills & Reeve advises on $15 million funding round

National law firm Mills & Reeve has advised global financial digital platform, FactSet, on a multi-million-pound Series A funding into provider of AI automation, Accelex.

The funding round, which includes existing investors Illuminate Financial, AlbionVC, SixThirty Ventures and Expon Capital, comes at a time of rapid growth for Accelex. In the past 24 months, the firm has added many top-tier asset owners and allocators along with asset servicers and service providers as clients. These firms now represent a combined asset base of more than $1.5 trillion, invested in more than 13,000 private market funds across 4,000 asset managers.

The cash injection will further strengthen the FactSet’s relationship with Accelex, whose technology is already a key enabler in its private markets growth strategy. FactSet (NYSE:FDS | NASDAQ:FDS) and Accelex are bringing innovation to the alternative assets industry, ultimately providing clients with solutions to better understand the drivers of investment performance.

Rob Robie, Executive Vice President, Head of Institutional Buyside at FactSet, said: “Data-driven decision-making is critical for our clients, particularly as their portfolios increase in exposure to private capital, where the acquisition, aggregation, and analysis of investment data has been a challenge. We are thrilled to partner with Accelex on this journey to bring innovative solutions to private markets, united by our shared commitment to empowering the alternative investment community with superior data and analytics, enabling better investment outcomes."

Franck Vialaron, Chief Executive at Accelex, said: "We are delighted with the completion of this latest financing round with FactSet and the continued support from our financial partners. This further validates the Accelex team, our approach to innovation, and the unique value proposition we offer our private markets clients.” 

Zickie Lim, head of venture capital investments at Mills & Reeve, who led the team advising FactSet, said: “Accelex is already a leader in the alternative investment data market and this latest funding will solidify that position and provide vital capital to accelerate operations. We’re thrilled to have advised FactSet on this transaction – FactSet are a renowned digital platform and enterprise solutions provider in the global financial sector, so this is a fantastic partnership and we look forward to watching both businesses continue to go from strength the strength.”

Our content explained

Every piece of content we create is correct on the date it’s published but please don’t rely on it as legal advice. If you’d like to speak to us about your own legal requirements, please contact one of our expert lawyers.

Mills & Reeve Sites navigation
A tabbed collection of Mills & Reeve sites.
My Mills & Reeve navigation
Subscribe to, or manage your My Mills & Reeve account.
My M&R


Register for My M&R to stay up-to-date with legal news and events, create brochures and bookmark pages.

Existing clients

Log in to your client extranet for free matter information, know-how and documents.


Mills & Reeve system for employees.