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Allocations acquires Lumen Advisory & Finance in $2.5m deal

By Edlyn Cardoza

October 11, 2021

  • Allocations
  • Lumen Advisory & Finance
  • Private Equity

Allocations, Lumen Advisory & Finance, USAAllocations, a fastest and most powerful private equity and venture capital platform, recently announced the acquisition of Salt Lake City-based Lumen Advisory and Finance. The deal, valued at $2.5 million in cash and stock, brings Lumen’s accounting automation acumen into Allocations’ expanding suite of accessible private equity capabilities.

Allocations is building private equity 2.0 – shifting the reins of control from big VC to angel investors. The company has built an end-to-end platform for private equity products (SPVs, funds and soon M&A, SPACs and family offices), disrupting the $2.9 trillion US private equity market. It has processed over $280 million in deal volume since 2019.

Founded in 2012, Lumen represents a success for Utah’s burgeoning technology scene as a forward-looking, tech-first company that values communication, transparency, and simplicity in its accounting and tax services approach. Its vision aligns neatly with Allocations, which is dedicated to demystifying and democratizing access to private equity. Lumen has been developing the “infinity engine,” a tech-enabled accounting and tax system built specifically for funds and SPVs of all sizes, which will continue to be deployed under Allocations’ aegis.

The two companies aligned on creating an engineering-focused approach to private equity deals, eliminating complexity, and increasing standardization and overall process speed. “Our reason for being has been to decrease the time, cost, and barriers to entry that the private equity industry has hidden behind for its entire existence, and Lumen fits beautifully into that picture,” said Kingsley Advani, Founder and CEO of Allocations. “Lumen has the mindset, the experience, and the technology to be a natural addition to our suite of capabilities. Their growth-oriented focus on making things simple, standard, and automated are exactly what will accelerate access to the industry going forward.”

“We’re thrilled to be joining a company that’s so closely aligned with our vision and values,” said Nicholas Bird, CPA, Founder and President of Lumen Advisory & Finance. “Since we started Lumen in 2012, our mission has been to design our tech and processes to make accessibility, transparency, and scalability as key metrics for success. Allocations does exactly what we were doing on the finance and tax side, but with a wider purview of capabilities.” 

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