Bunch Secures $35M Series B to Modernise Private Markets Operations in Europe
Berlin-based bunch, an AI-native fund operations platform for private markets, has secured $35 million in a Series B funding round led by Portage. Participants included Illuminate Financial, Motive Partners, Cherry Ventures, Fintech Collective, and angel investors. The funds will drive commercial growth in Europe, enhance AI capabilities, and expand the platform’s reach across new geographies and asset classes.
The investment comes as private markets face increasing operational pressure. With assets under management projected to hit $32 trillion by 2030, fund managers are struggling with outdated systems—relying on spreadsheets, emails, and manual processes. bunch addresses this by offering an integrated digital platform for fund lifecycle management, combining specialist expertise, proprietary software, and AI-driven infrastructure. The platform streamlines unstructured data, maintains traceability, and reduces manual workflows while preserving auditability.
bunch’s growth is evident: it now supports over 150 fund managers and 12,000 limited partners across Europe. In 2025, the company achieved a 300% increase in annual recurring revenue and 156% net revenue retention. Clients include FINVIA Family Office, Passion Capital, and Antler. To date, bunch has raised over $58 million, solidifying its position as a leader in European private fund operations.
Enrico Ohnemüller, bunch’s Co-Founder and CEO, stated, “Private markets are growing, but their operational infrastructure hasn’t kept up. GPs can’t scale with spreadsheet-era tools. bunch provides a unified platform for the complexity of multi-jurisdictional operations, blending expertise, software, and AI to make fund operations more efficient and scalable.”
The funding will focus on commercial expansion in Germany, the UK, and Luxembourg; deepening AI and automation in capital calls, compliance, and reporting; and scaling operations to support additional asset classes and jurisdictions.
Hélène Falchier of Portage noted, “bunch has built infrastructure that’s structurally necessary as markets grow. Europe’s regulatory demands are intense, and bunch’s depth in this space makes it defensible.” Konstantin Koenig of Illuminate Financial added, “bunch is at the intersection of operational risk and opportunity, with the expertise to address both.”
