Berlin’s Bunch raises $35M to scale AI private-markets platform

Bunch, a Berlin-based private-markets platform, closed a $35 million Series B led by Portage. Illuminate Financial participated, and existing investors Motive Partners, Cherry Ventures and Fintech Collective made follow-on investments alongside additional angel backers. The company has raised more than $58 million since its 2021 founding and operates offices in Berlin, London, Amsterdam and Luxembourg.

The company provides software and services that cover the fund lifecycle, including digital investor onboarding, capital calls, fund administration, fund accounting and tax reporting.

Bunch said it supports more than 500 investment structures for over 150 asset managers across major European jurisdictions. The company reported a 300% increase in annual recurring revenue in 2025 and a net revenue retention rate of 156%.

Proceeds from the round will be used to expand commercial operations across Europe, add asset classes and operational workflows, extend the platform into new geographies and deepen automation and AI capabilities.

Enrico Ohnemüller, co-founder and CEO, said private markets are entering a phase of growth while operating infrastructure has lagged, noting “GPs cannot scale on spreadsheet-era infrastructure.” He added that combining specialist expertise with software and AI can make fund operations more efficient and consistent, and that the investment will support the company’s product and commercial plans.