Aduro Advisors, LLC (Aduro), a leading fund administration firm that uses best-in-class proprietary technology to provide services to venture capital and private equity firms, announced today that it has acquired VMS Fund Administration (VMS), a venture capital and private equity fund administrator based in Princeton, NJ. Since its founding in 2000, VMS has built a reputation as a thoughtful, client-focused fund administrator providing accounting, reporting, and fund operation services to a collection of the industry’s top venture firms.
Latest Fintech News: Global Primex Launches Private, Virtual Payment Platform VLoad with Metropolitan Commercial Bank
The partnership, effective July 1, 2022, is part of a strategic initiative to broaden Aduro’s client portfolio, expand the company’s team of industry experts, and strengthen its East Coast presence. As part of this combination, Dominick Turiano, Founder and Managing Partner, and Joe Pruscino, Partner, of VMS, will become Partners at Aduro. This strategic partnership solidifies Aduro’s position as one of the premier venture capital and private equity fund administrators in North America. At closing, the Aduro platform will support over 500 unique venture capital and private equity fund managers.
“This feels like a natural fit as Aduro shares our core value of professional service. We feel incredibly fortunate to partner with Aduro and their entrepreneurial team. Aduro has built a remarkable business focused on delivering the best outcome for their clients. The combination establishes a nationwide footprint of experienced professionals servicing the investment community,” said Dominick Turiano.
Latest Fintech News: Tampa Continues to Innovate and Offers Parkers More Ways to Pay With Passport
“VMS, with its long-standing client and industry relationships, has a stellar reputation of providing high quality service to its clients. We are excited to have Dominick and his talented team join Aduro to continue to expand our presence on the East Coast. The VMS team shares our sense of commitment to their clients, deep industry experience and strong company culture. This combination will significantly strengthen our market position and orient Aduro for continued long-term growth,” said Braughm Ricke, Founder and CEO of Aduro.
This acquisition was financed by existing Aduro investor PPC Enterprises. PPC Partner Thomas Uger said, “We are thrilled to play a role in this combination of well-respected fund administrators to venture capital and private equity firms. The combined platform and management team are positioned to provide industry leading service and tailored technology solutions to their clients.”
Latest Fintech News: Passport Parking App in Use Across Eastern Massachusetts
[To share your insights with us, please write to sghosh@martechseries.com]
