Mishcon Private Equity has advised the management team of Duco on a majority growth investment by Nordic Capital. Nordic acquired a majority shareholding from current investors, CME Ventures, Insight Partners and Eight Roads Ventures. Founder Christian Nentwich remains as a shareholder and CEO. The transaction was announced on July 15 and closed on August 2, 2021.
Duco provides Software as a Service (SaaS) solutions in the cloud to Financial Services, Insurance and FinTech companies dealing with mission critical data management issues. Duco’s mission is to “make managing data easy” by replacing spreadsheets and technology-heavy solutions in areas like data prep, reconciliation, data quality and data management with a user-friendly, machine learning-powered platform. Headquartered in London, Duco has 140 employees in the UK, US, Singapore and Poland. Duco’s software is used by 14 of the top 30 global banks, asset managers with over $10 trillion in assets, leading payments innovators, crypto exchanges and custodians, and insurers.
The Mishcon team was led by Partner and Head of Mishcon Private Equity, Nadim Meer, and also comprised Allison Keyse and Bridgette Gorman, with Margarita Elia and Matt Robinson advising on Employment related matters. Mishcon Private Equity also provided personal tax advice to management, which was led by John Skoulding and Sarah Hein.
Christian Nentwich, CEO of DUCO, said, "Given the fast-paced investment process timeline, our management team needed the right legal, employment and tax advice from a team that had experience in the area and could deliver under constraints. We were impressed with the efforts and expertise Mishcon’s Private Equity team brought to the table, and their dedication to work tirelessly towards a successful outcome.”