Enfusion, a cloud-based investment management software and service company, is expanding into China, the company said in a recent release.
This is Enfusion's "first official step in the firm's expansion into mainland China," the release said.
Enfusion, which has offices in Chicago, New York and seven other cities worldwide, has established a wholly foreign-owned enterprise (WFOE) called Enfusion Shanghai, in order to support the Asia-Pacific (APAC) region in domestic and global investments.
"After a record year of growth in the APAC region, Enfusion established Enfusion Shanghai to respond to the increasing demand for innovative, digital solutions among mainland Chinese and global investment managers," Enfusion CEO Thomas Kim said in the release.
As China continues to grow its market size, offshore investors are attracted to take advantage of its sustained growth, the release said. The country is in a position where it has operational challenges that need to be addressed and global managers need to engineer their systems to accommodate a vast array of foreign and domestic investments.
"We have been catering to the offshore Chinese market for years, helping our clients solve evolving and complex challenges with our cloud native-platform and managed services solutions,” Kim said.
Enfusion is primed to address global challenges by serving the Chinese sector with a front-to-back office SaaS platform that delivers the precision, transparency and proficiencies needed to strengthen international expansion, the company said.
“We are thrilled to be taking this next step in our journey and bring our best-in-class offering, which has been disrupting the global asset management ecosystem, to the mainland,” Kim said.
Iris Xinwei Wang will lead the expansion as Enfusion's new global head of strategy.
Wang has over 12 years of strategy experience, which includes six years at Bridgewater Associates in strategy and business planning.
She previously served with Boston Consulting Group on market entry and global growth strategies.