The intelligent operating system for private market investing.
Palo Alto, California · Founded 2021
ALLOCATE, INC. - The company's brand mark. Founded in 2021 by former venture bankers Samir Kaji and Hana Yang to connect the wealth channel to institutional private markets.
For most of the last two decades, the private markets grew faster than the tools built to run them. Wealth advisors wanted their clients in venture funds, private equity, and private credit. Institutional asset managers wanted the capital. And between those two groups sat a wall of paperwork - subscription documents, wire transfers, capital-call notices, and quarterly PDFs stitched together by hand.
Allocate is a Palo Alto financial-technology company built to remove that wall. It describes itself as the operating system for private markets: a single interface where wealth advisory firms and institutional family offices can source, diligence, subscribe to, and manage private-market strategies across venture capital, private equity, and private credit.
The company was founded in 2021 by Samir Kaji and Hana Yang, two people who had spent their careers watching the friction up close. Both came out of venture banking, where they had seen the same mismatch play out again and again: demand on one side, supply on the other, and no infrastructure connecting them.
By September 2025, Allocate had closed a $30.5 million Series B led by Portage Ventures, lifting its total funding to roughly $64 million and adding a16z, M13, and Fika Ventures to the cap table. At the time of the round the platform reported more than $2.5 billion in assets and over 1,200 advisory firms and family offices using it.
What makes the story worth telling is not the size of the round. It is the choice of problem. Many fintech companies chase the consumer front end - the app, the dashboard, the sign-up flow. Allocate went after the unglamorous middle: the operations layer that decides whether capital can actually move.
The bet is simple to state and hard to build. If the operational cost of putting a client into a private fund drops far enough, far more advisors will do it - and the wealth channel becomes a durable source of capital for managers who have historically had to raise it the slow way.
"Despite tremendous growth, the current tooling for private markets remains too limited to support efficient and responsible scale."
Handles the full lifecycle - discovery, diligence, subscriptions, capital flows, and portfolio operations - across venture, private equity, and private credit.
Registered investment advisors and institutional family offices, from roughly $500M to $250B+ in assets under management. 1,200+ firms are on platform.
Private-market investing still runs on documents, wires, and disconnected reporting. Allocate replaces that with automated workflows and a single portfolio view.
Founded by veteran venture bankers who advised 700+ VC and PE firms - so the product is shaped by the workflows it replaces, not guessed at.
Spent 22 years in venture banking at SVB and First Republic, advising more than 700 VC and PE firms and personally investing in 80+ funds and companies. Hosts the venture-capital podcast Venture Unlocked.
More than 15 years in private markets working with hundreds of asset managers and allocators. Previously a Managing Director in First Republic Bank's Venture & Technology vertical.
End-to-end system to discover, diligence, subscribe to, and manage fund strategies in one place.
A vetted set of manager and fund strategies that pass Allocate's diligence and approval process.
Create and administer custom funds and special purpose vehicles, including subscriptions and capital calls.
AI-driven investment management, workflow automation, and analytics such as J-curve and exposure views.
Research, webinars, and market insights for private-market investors.
Advisory services offered through Allocate Management Company, LLC.
Allocate runs a two-sided, B2B model. It sells software and services to the wealth side - advisory firms and family offices - while connecting them to institutional asset managers on the other. Revenue comes from platform and technology fees plus advisory services delivered through Allocate Management Company, LLC.
The design is deliberate: the more managers on the network, the more valuable the platform is to advisors, and the more advisor capital the managers can reach. Each side strengthens the other.
Allocate operates in the same broad space as private-market access and infrastructure platforms such as iCapital, CAIS, Moonfare, Opto Investments, and Arch, along with traditional fund administrators and the manual advisor workflows it aims to replace.
Its differentiation is positioning as a full operating system rather than a single feature - pairing a curated, diligenced marketplace with custom fund and SPV infrastructure, AI-driven automation, and portfolio management, built by people who ran these workflows from the inside.
"They are building the modern operating system that private markets have long needed."
Samir Kaji and Hana Yang launch in Palo Alto to link the wealth channel to institutional managers.
Initial capital to open up access to venture capital fund investing.
Backed by a16z, M13, and Fika Ventures to expand VC access.
Additional strategic capital and key hires to modernize venture investing.
Portage leads; total funding reaches $64M, funding AI and expansion into PE and private credit.
| Round | Amount | Date |
|---|---|---|
| Seed | $5M | Jul 2021 |
| Series A | $15.3M | May 2022 |
| Strategic | $10M | Oct 2023 |
| Series B | $30.5M | Sep 2025 |
SELECTED BACKERS: Portage Ventures, Andreessen Horowitz (a16z), M13, Fika Ventures. Total raised ≈ $64M since inception.
Allocate is a technology platform - an operating system for private markets - that lets wealth advisory firms and family offices source, diligence, invest in, and manage private-market fund strategies across venture capital, private equity, and private credit through one interface.
It was founded in 2021 by Samir Kaji (Co-Founder & CEO) and Hana Yang (Co-Founder & Chief Experience Officer), both former venture bankers.
Wealth advisory firms (RIAs) and institutional family offices, ranging from roughly $500M to $250B+ in assets under management. Over 1,200 firms use the platform.
More than $64 million in total, including a $30.5M Series B in September 2025 led by Portage Ventures, with backing from a16z, M13, and Fika Ventures.
Allocate positions itself as a full operating system - combining a curated, diligenced marketplace, custom fund/SPV infrastructure, AI-driven workflow automation, and portfolio management - built by veteran venture bankers for both advisors and asset managers.