TopQ Software Ltd announced the launching of a new software designed to provide a secure avenue of collaborative performance data. Called TopQ, the software would be used to track record data by fund managers of private equity firms and institutional investors.
The software would set to expedite raising capital by private equity firms with prospective investors and removes the archaic and sometimes problematic marketing process done entirely on spreadsheets.
With locations in Boston, London and Edinburgh, the company's founders are Graeme Faulds and Graham Paterson and Drake Paulson. Faulds and Paterson are also founders of private equity fund of funds SL Capital Partners. Pauson is a reknowned veteran in the private equity software industry.
Faulds said, "It was always unbelievable to us that we were working in a $3 trillion industry still predominantly run on spreadsheets. The use of spreadsheets for this task is prone to user error and is open to abuse." Paterson also added, "One of the driving forces behind the establishment of TopQ was the need to give investors peace of mind when conducting their due diligence."
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