Eunice Raises $8 Million to Expand AI-Powered Due Diligence for Crypto and Private Markets
London-based compliance technology company Eunice has secured $8 million in seed and pre-seed funding, backed by Moonfire Ventures and Speedinvest, along with Openspace Ventures and angel investors from the financial and cryptocurrency sectors. The company leverages artificial intelligence (AI) to streamline due diligence and disclosure processes for alternative assets, including digital assets and private equity.
Eunice initially focused on serving digital asset exchanges and custodians such as Coinbase, Crypto.com, Copper, and Zodia Custody, and participated in the UK Financial Conduct Authority’s (FCA) regulatory sandbox . Now, the company is expanding its services to the broader private market, targeting pension funds, endowments, and funds of funds.
AI-Driven Compliance Infrastructure
Eunice’s platform utilizes AI agents to create a trackable and auditable infrastructure for due diligence and disclosure. This helps institutions generate risk and compliance reports for structured asset classes, addressing the growing need for transparency and regulatory adherence in the alternative investment space.
Expansion into Private Markets
The expansion into private markets reflects a broader industry challenge: disclosure gaps, information asymmetry, and investor protection concerns. Eunice aims to apply its AI-driven approach to address these issues in the private equity and venture capital sectors, where due diligence can be particularly complex and time-consuming.
Investor Confidence and Future Plans
Philip Lam, founder of Eunice, expressed gratitude for the investor support, highlighting the conviction shown in the current fundraising environment. The company emphasizes a client-obsessed approach, focusing on delivering tailored outcomes through robust AI governance processes. Eunice is actively seeking engineers and product leaders to join its team as it scales its operations.
Moonfire Ventures’ Perspective
Moonfire Ventures, one of the lead investors, supports innovative early-stage founders at the intersection of sectors and technological disruption. The firm’s investment in Eunice underscores the growing recognition of AI’s potential to transform compliance and due diligence processes in the financial industry.
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