Blackstone-Backed FTV Invests in Compliance Platform FundApps

FTV Capital has invested in compliance monitoring and reporting technology platform FundApps, taking three board seats at the startup as part of the transaction.

The Blackstone Inc.-backed firm is providing a significant growth equity investment to FundApps, according to a statement reviewed by Bloomberg News. The deal values the compliance monitoring platform at about $500 million, people familiar with the matter said, asking not to be identified as the information is private.