Digital Horizon has announced that it has invested in the $5 million funding round for Allocations, the company, which provides APIs to help private fund managers streamline processes.

The funds were raised from investors including Flex Capital, Genesis Accel, Whatif Ventures, Garage Syndicate, W5 Group, Edoardo Ermotti, Peter Ko and others at a valuation of $150 million.

Allocations serves a broad range of managers, ranging from family offices to angel investment groups to venture capital funds, representing 10,000+ private wealth clients today. The platform helps managers create special purpose vehicles (SPVs), which allow them to raise capital from a single investment from pooled sources. One of the benefits of using Allocations is that managers can offer their clients lower investment minimums.

With the latest funding, the company plans to double down on the firm’s API offerings, which are a huge step up in terms of the level of automation they offer compared to popular legacy software systems. Also more customization of funds will be available as Allocation’s products evolve.