The deal follows an April 8 integration with Bloomberg PORT Enterprise and adds Canoe’s AI-powered document processing across 44,000 private funds.
Bloomberg LP is acquiring Canoe Intelligence, an AI-driven platform that automates private markets data collection for institutional investors, wealth managers and family offices, expanding its reach in a market the article estimates at $15 trillion to $22 trillion. Founded in 2018 and based in New York, Canoe extracts, organizes and delivers data from private markets documents, processing about 1.5 million documents a month across more than 44,000 private funds. Its client base includes more than 500 institutions managing over $11 trillion in assets. The acquisition builds on an existing partnership: Bloomberg integrated Canoe’s technology into Bloomberg PORT Enterprise on April 8 to automate data flows for portfolio analysis across public and private holdings. Bloomberg CEO Vlad Kliatchko said the deal reflects rising institutional demand for private markets data access and technology infrastructure. Before the acquisition, Canoe had raised about $72.8 million, including a $36 million Series C in July 2024 led by Goldman Sachs that valued the company at $312 million; Blackstone and Carlyle AlpInvest were also investors. Bloomberg has also launched a private direct lending data service covering about 15,000 loans valued at nearly $1 trillion, suggesting it is building a broader private markets data stack.