(Alliance News) - HgCapital Trust PLC announced on Wednesday an investment in regulatory technology company Cube Content Governance Global Ltd.
The London-based investment company will invest approximately GBP9.7 million to create an "industry defining regulatory compliance and risk platform". Other institutional clients of Hg, the manager of HgCapital Trust, will be investing alongside through the Hg Mercury 4 Fund.
"Since 2011, Cube has established itself as a trusted partner for many of the world's leading banks, insurers, asset managers and other highly regulated enterprises to deliver its cloud-based regulatory technology solutions to automate legal, compliance and risk functions," HgCapital Trust said.
"Cube's platform offers a comprehensive and robust source of classified, and meaningful AI-driven regulatory data covering every regulated country and territory across the globe. Headquartered in the UK, Cube has operations across Europe, North America, Asia and Australia."
HgCapital shares were down 0.1% to 453.00 pence in London on Wednesday afternoon.
By Elijah Dale, Alliance News reporter
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HgCapital Trust plc (HGT)