Solovis. See the whole portfolio.

At Reed College, roughly a billion dollars supports an unusually small investment office: two people. The endowment contributes about a third of the college's operating budget. Its managers need to understand an investment world that is considerably larger than their team. In Solovis's account of Reed's experience, the old arrangement meant limited data, heavy dependence on Excel and no practical way to diagnose the portfolio's underlying risk.

When CIO Erik Bernhardt examined Reed's equity managers with the product now called Solovis Risk Pro, some supposed satellite managers looked surprisingly like core managers. Different names had concealed similar behavior. That is an expensive sort of misunderstanding for an investment office to carry. The software gave the team evidence to reconsider portfolio weights and ask more precise questions.

The problem before the dashboard

Solovis began with a practitioner noticing repetition. After leaving investment firm Investure and moving to Birmingham for his wife's medical residency, Josh Smith consulted for endowments, foundations and family offices. The same operational problems followed him from organization to organization. He recruited former colleague Caleb Doise, a software architect, and they founded Solovis in 2013.

Smith put personal savings into the venture. In a 2018 interview, he recalled that Microsoft supplied two years of free hosting and development resources. His early confidence came from knowing the work. The company would build for asset allocators: the people choosing investments across managers, funds and asset classes.

A better question than “Where is that file?”

Consider the ordinary difficulty of owning an extraordinary assortment of assets. Public securities have market prices. Private funds send statements, estimates and transaction notices. Cash movements and valuations arrive from different places. Solovis's Portfolio Analytics brings that information into a shared environment for performance calculations, exposure analysis and reporting.

An investment officer can inspect exposure by geography or sector, compare actual allocations with targets, track redemption opportunities and translate foreign holdings into a base currency. Private-market tools include fund and co-investment analysis, fees, J-curves and comparisons with public-market equivalents. The useful unit is the whole portfolio, with enough detail underneath to investigate it.

What changed at $125 billion

UC Investments offers a larger test. In Solovis's published case study, its then-$125 billion portfolio was hampered by fragmented systems and inconsistent data. Evaluation began in 2017. COO Arthur Guimaraes was struck by the ability to rearrange asset classifications and recalculate the portfolio. He called it a break with “the status quo.”

The rollout had an organizational design as well as a technical one. Leadership backed a common charter. A steering committee met frequently and circulated approved minutes. The simplest asset class, with the shortest history, went live first. Solovis reports that the broader transformation took just over a year.

There is something here any team can copy: give the work named owners, agree what the data means and begin with a manageable slice. Buying software leaves those decisions in human hands. When departments cannot agree on definitions or responsibility, a common screen will still contain competing answers.

The people behind the numbers

Solovis also sells the labor required to keep an analytical system fed. Operations Analyst processes notices, valuations and estimates, books cash flows and checks custodial feeds. Public Analyst gathers holdings and exposure information from sources including manager letters and regulatory filings. Private Analyst collects underlying holdings from private funds, including co-investments.

These services explain an important part of the company's positioning. Institutions can buy analytical capability and additional operational capacity from the same provider. The commercial proposition combines enterprise software with service offerings through a sales-led process. A prospective customer has to scope its portfolio, modules and data workload before comparing the economics with an internal team or other vendors.

Risk has a memory. Cash has a calendar.

The product family addresses different questions. Risk Analytics examines factor exposures and historical stress scenarios. Risk Pro, formerly Venn Pro, adds tools for factor attribution, manager due diligence, portfolio construction and presentation-ready reporting. Its Private Asset Lab addresses less transparent investments. This is where Reed's experience belongs: testing what managers contribute beneath their stated categories.

Predict looks forward. Users can change market assumptions, combine scenarios and model the path of allocations, liquidity and private-equity commitments. Its customizable J-curves help examine cash-flow pacing. These are conditional calculations: change the assumptions and the outcome changes. Private-market estimates still depend on the information available; a model cannot turn an old valuation into a fresh market transaction.

“Our modeling is significantly easier and faster in Solovis Predict”Investment officer, City of Fresno Retirement System, in a Solovis product testimonial

A new owner. A wider lens.

The business grew with outside capital. Edison Partners led a $3.25 million financing announced in January 2016 and an $8 million Series A in May 2017. Nasdaq acquired Solovis in March 2020, pairing it with eVestment. In October 2025, Insight Partners completed its purchase from Nasdaq, with software operating group ST6 supporting the independent company.

Solovis acquired Venn from Two Sigma in February 2026. The current product lineup reflects that deal through Risk Pro. Leo Rozkin became CEO on September 21, 2026; the company's October announcement emphasizes client teams and making the platform easier to use. Those are priorities, with execution still ahead.

Its market includes alternatives such as Addepar, BlackRock Aladdin, SimCorp and eFront, alongside custodians and internally assembled systems. The right comparison depends on the institution's accounting, risk and reporting requirements. Solovis's particular pitch is a connected view for the allocator. For Reed's two-person office, the practical question is wonderfully concrete: can the team spend more time examining its investments, and less time preparing to examine them?