Bloomberg acquires Canoe Intelligence to boost AI data capabilities

By Milan Rojan

Bloomberg has entered into a definitive agreement to acquire Canoe Intelligence, an AI-powered private markets data management platform, strengthening its strategy to deliver integrated data, analytics and workflow tools across public and private markets.

Vlad Kliatchko, CEO of Bloomberg, said: “Over four decades ago, Bloomberg revolutionised the finance industry by bringing transparency and efficiency to public markets. Today, private markets are primed to undergo a similar transformation.”

The acquisition has marked another step in Bloomberg’s expansion into private markets, where it already provides data on more than three million private companies, 50,000 private funds and 16,000 private direct loans. Financial terms of the deal have not been disclosed, and the transaction remains subject to customary regulatory approvals.

Jason Eiswerth, CEO of Canoe Intelligence, said joining Bloomberg would enable the company to scale its data automation capabilities and provide investors with deeper portfolio insights supported by broader datasets and infrastructure.

Canoe has automated the collection, extraction and delivery of private markets data, processing more than 1.5 million documents each month across over 44,000 funds. The platform has served more than 500 institutional clients representing over $11 trillion in assets under service, including institutional investors, wealth managers, fund servicers and family offices.

Bloomberg said the acquisition has built on an existing partnership between the two companies, following the launch of a certified integration with Bloomberg PORT Enterprise earlier this year. The combined offering is expected to provide investors with a unified view of public and private assets, enhanced fund screening and benchmarking capabilities, broader private fund data coverage and AI-driven insights through Bloomberg’s ASKB conversational interface.

Canoe was incubated by principals of 10East and 22C Capital, with institutional investors including Blackstone Innovations Investments, Carlyle AlpInvest, Eight Roads, F-Prime, Growth Equity at Goldman Sachs Alternatives, Hamilton Lane and Nasdaq Ventures.