DENVER--(BUSINESS WIRE)--Aduro Advisors, LLC (“Aduro”), a leading fund administrator to venture capital and private equity firms, has secured a strategic growth investment from Vitruvian Partners (“Vitruvian”), a leading global growth-focused investment firm. Aduro’s leadership team and existing shareholder PPC Enterprises (“PPC”) will retain a significant investment in Aduro going forward.
Established in 2012 and headquartered in Denver, CO, Aduro Advisors (“Aduro”) has over $120 billion of assets under administration (“AUA”). Due in large part to its unique offering, Aduro has grown significantly, increasing AUA by over 150% since 2020.
Vitruvian has focused on investment opportunities in the fund administration subsector, given its attractive characteristics and structural growth drivers of alternative asset managers. Through this transaction, Vitruvian will support Aduro's long-term strategic growth, working in close partnership with Aduro’s leadership team and PPC.
Braughm Ricke, Founder and CEO of Aduro, said: “This is an exciting opportunity to accelerate the expansion of Aduro’s service and technology offerings to best serve the alternative asset industry. The Vitruvian team brings a wealth of experience and will provide strategic guidance and capital to support Aduro's continued growth and development.”
Luuk Remmen, Partner at Vitruvian Partners, said: “Vitruvian’s investment in Aduro builds on our significant track record in fund administration services. Together with PPC, we will provide significant capital and capabilities to support and further accelerate the growth and acquisition aspirations of Aduro. We are excited about partnering with Braughm and the broader Aduro team.”
Thomas Uger and Kashyap Shah of PPC added, “The Aduro team successfully executed an aggressive growth plan while strengthening the Company’s operational and technological capabilities and providing excellent service to Aduro’s venture capital and private equity clients. We are thrilled to retain a meaningful equity stake alongside the Aduro management team, and we welcome Vitruvian, who we believe will be a very additive partner for the next stage of growth.”
Jefferies LLC served as financial advisor and Covington & Burling LLP served as legal counsel to Aduro. Kirkland & Ellis LLP served as legal counsel to Vitruvian. Terms of the transaction are not disclosed.
About Aduro Advisors
Aduro Advisors, LLC is the premier fund administrator for venture capital and private equity firms. Our service-first, tech-forward approach helps clients navigate operations with ease while building durable businesses. Over 550+ firms rely on Aduro to manage thousands of funds representing more than $120B in assets under administration. Aduro’s customized solutions, highly experienced professionals and purpose-built platform, FundPanel.io, elevate operations so clients can focus on what they do best: investing. To learn more, visit www.aduroadvisors.com.
About Vitruvian Partners
Vitruvian Partners is an international growth-focused investor with offices across London, Stockholm, Munich, Madrid, Luxembourg, San Francisco, Mumbai, Singapore, and Shanghai. Vitruvian focuses on dynamic situations characterized by rapid growth and change across asset-light industries. Vitruvian has c.$16bn of active funds which have backed many global winners and leaders in their sectors, including Just Eat, EasyPark, Skyscanner, Wise, CFC Underwriting, CRF Health, Darktrace, and Bitdefender. Further information can be found at www.vitruvianpartners.com.
About PPC Enterprises
PPC Enterprises is a New York City-based private equity firm founded by former senior partners of Kohlberg Kravis Roberts & Co. PPC invests in a select group of industries, including Business and Financial Services, Industrial Services, and Healthcare Services. www.ppcenterprises.com.
