fund-administration
(20)
Benefit Plans Administrative Services, Inc. (BPAS)
BPAS has built a sizable business around a quiet corporate headache: the pile of rules, records, vendors and deadlines behind employee benefits. Its answer is to put more of that machinery under one roof - while keeping a human expert on the phone.
Northern Trust
Northern Trust is the 137-year-old Chicago institution most people never see. Behind the quiet name sits a global machine safeguarding, administering or managing trillions for pensions, fund managers and wealthy families.
State Street
State Street is the quiet machinery behind modern investing - guarding assets, settling trades and stitching together data for institutions across more than 100 markets. Its next act is to make that machinery work for private markets, wealth platforms and tokenized finance.
Opto Investments
Opto is building the operating system behind bespoke private-market programs - turning fund formation, diligence, subscriptions, capital calls and reporting into one continuous workflow for wealth managers.
1Token
1Token builds institutional back-to-front office software for crypto funds and financial institutions. Founded in 2018 and led by Damon Xu, the company runs a portfolio management system (PMS), risk management system (RMS), trade reconciliation, and T+0 shadow NAV accounting that stitch together fragmented CeFi exchanges, DeFi protocols and TradFi accounts into one book. Today it connects 80+ CeFi venues and thousands of DeFi protocols, serving 100+ institutional clients that monitor more than $20B in assets across APAC, North America and Europe.
Qapita
Qapita is a Singapore-headquartered equity management platform that helps private and public companies, startups and investment funds run their cap tables, employee stock ownership plans (ESOPs), valuations, fundraising, liquidity events and fund administration in one system. Founded in 2019 by a banker-investor-technologist trio, it serves over 2,400 private companies and 100+ listed companies across India, Southeast Asia and now the US, managing more than $55B in equity for over 500,000 stakeholders.
Ark
Ark is a Boston-based software company that builds a cloud platform for running private capital funds. Founded in 2017, it combines fund accounting, an investor portal, LP reporting, and fundraising tools into one system used by venture capital, private equity, fund-of-funds, and real estate managers as well as the fund administrators who service them. By 2026 the platform supported more than 500 GPs and administrators overseeing roughly $185 billion in assets. In July 2026, AngelList acquired Ark to fold its fund-administration software into AngelList's banking, payments, and cap-table infrastructure.
Asset Class
Asset Class is a fintech company building an AI-powered operating system for private capital firms. Founded in 2020 by Ferdinand Roberts, its Fund Operating System connects fundraising, investor relations, fund administration, deal flow and portfolio management in a single platform, with a white-label LP portal for accredited investors. The company services more than 300 funds totalling roughly $33 billion in assets under management and a network of over 15,000 accredited investors, and has raised $14.6M to date, including an $11.6M Series A led by Canapi Ventures.
Canoe Intelligence
Canoe Intelligence is a New York-based financial technology company that uses AI and machine learning to automate the collection, extraction and management of data from alternative investment documents. Its cloud platform turns the unstructured PDFs, capital calls, statements and tax forms that flood back offices into standardized, verified data that institutional investors, capital allocators, wealth managers and asset servicers can trust. Serving more than 325 clients - including firms such as Blackstone and Hamilton Lane - Canoe processes tens of millions of documents a year and raised a $36M Series C in 2024 led by Growth Equity at Goldman Sachs Alternatives.
Caruso
Caruso is an AI-native fund administration and registry platform for private markets, built to replace the spreadsheets, manual workflows and fragmented tools that fund managers have long relied on. Founded in 2023 and headquartered in Sydney with offices in Dallas and Auckland, Caruso unifies investor onboarding, capital raising, fund accounting, registry operations and investor reporting into a single system, offered as software, outsourced services, or a hybrid of both. More than 80 fund managers running 900+ funds and $55B+ in assets under administration use the platform, including enterprise clients such as Centuria Capital Group.
Siepe
Siepe is a Dallas-based financial technology company that builds cloud software and tech-enabled services for private credit, CLO, and alternative investment managers. Founded in 2012 by former hedge-fund CTO Michael Pusateri, Siepe helps front, middle, and back-office teams turn scattered loan, borrower, and investor data into a single, transparent asset - reducing operational risk and letting managers scale without adding proportional headcount. In August 2024 the company raised a $30M Series B led by WestCap.
Allocate
Allocate is a Palo Alto-based financial technology company building an intelligent operating system for private market investing. Its platform equips wealth advisory firms and institutional family offices with modern infrastructure to source, diligence, build, and manage private portfolios - spanning venture capital, private equity, and private credit - through a single interface. Founded in 2021 by longtime venture bankers Samir Kaji and Hana Yang, Allocate automates subscriptions, capital flows, and portfolio operations, and has scaled to billions of dollars on platform serving over 1,200 advisory firms and family offices.
HireAthena
HireAthena is a San Francisco back-office-as-a-service company that pairs a remote, mostly work-from-home workforce with workflow software to handle accounting, bookkeeping, payroll, HR, benefits, tax, and fund administration for startups, non-profits, and small and medium businesses. Founded by Kristen Koh Goldstein in 2010 as BackOps, it merged with her workflow-automation company Scalus and relaunched as HireAthena in 2016, carrying a social mission to bring stay-at-home talent - especially mothers - back into the workforce.
Sydecar
Sydecar is a deal execution platform that automates the back office for venture investors. It lets fund managers, syndicate leads, and emerging VCs spin up Special Purpose Vehicles (SPVs) and funds with banking, compliance, contracts, tax, and reporting handled in one place - turning what used to take weeks of legal and administrative work into a next-business-day process. Founded in 2021 and based in San Francisco, the company has supported thousands of investment vehicles and administers more than $1 billion in assets.
Nth Round
Nth Round is a Philadelphia-based fintech that builds equity-management software for private companies, family businesses, and funds. Its white-labeled platform combines cap table management, shareholder communications, proxy voting, document distribution, and internal liquidity windows into a single secure portal - so companies with hundreds of shareholders across multiple stock classes and generations can keep records accurate, keep owners engaged, and let shares change hands without a public market.
iCapital
iCapital is a New York-based financial technology platform that opens private-market and alternative investments - private equity, hedge funds, private credit, real estate, structured investments and annuities - to wealth advisors and their high-net-worth clients. Founded in 2013, it replaced the paperwork-heavy, high-minimum world of alternatives with an end-to-end digital infrastructure connecting asset managers and wealth managers, and now services more than $1 trillion in client assets across 2,100-plus funds for roughly 118,000 financial professionals.
Maybern
Maybern is a New York-based fintech building the operating system for private fund finance. Its platform unifies fund accounting, waterfall and fee calculations, capital calls, distributions, and LP reporting into a single 'Performance Book of Record', replacing the spreadsheet sprawl that has long defined the back office of private equity, private credit, and real estate funds. Founded by former Cadre engineers Ross Mechanic and Ashwin Raghu, the company raised a $50M Series B led by Battery Ventures in November 2025 and supports over $80 billion in assets under management.
Carta
Carta is a San Francisco fintech that turned the messy spreadsheet of startup ownership into software. Founded in 2012 as eShares, it manages cap tables, 409A valuations, equity plans, and fund administration for tens of thousands of companies and venture funds - now positioning itself as the connective tissue for the entire private capital market.
AngelList
AngelList is the software platform behind a meaningful slice of U.S. early-stage venture capital. What started in 2010 as a way to introduce founders to angel investors has become the infrastructure layer for fund managers - the place where funds, SPVs, syndicates, and rolling funds get formed, administered, and reported on. Today thousands of investors run capital through AngelList, and a sizeable share of every new American startup round touches its rails.
Juniper Square
Juniper Square is a San Francisco-based fintech company that provides an end-to-end fund operations platform for private markets managers - combining software, data, and fund administration services for general partners in private equity, venture capital, real estate, and credit. Founded in 2014, the company serves over 2,100 GPs managing more than 40,000 funds and $1 trillion in LP capital. In June 2025, Juniper Square raised a $130M Series D at a $1.1 billion valuation, reaching unicorn status, with major investors including Ribbit Capital, Fifth Wall, and Redpoint Ventures.