Capital calls and waterfalls

AgoraAgoraInvestor portal, investor CRM, digital subscriptions and capital call/distribution tooling aimed at real estate investment firms; $63M raised through a 2024 Series B.Investor portals and CRM LP portals Capital calls and waterfalls AURUMAlchelystFund operations platform covering fund accounting, waterfall and fee calculations, investor servicing and transfer agency; formed in March 2026 from a business spun out of Apollo in 2025 and an Irish fund administrator founded in 2023, backed by Motive Partners.Capital calls and waterfalls PE and VC fund administration Fund accounting and NAV+1Allocations SPV and Fund AdministrationAllocationsAutomates SPV and fund formation, banking, investor onboarding, tax and ongoing administration, with a flat one-time or annual fee.Fund administrators PE and VC fund administration LP portals+1Allvue Fund AccountingAllvue SystemsFund and investment accounting for private capital managers, formed in 2019 by merging Black Mountain and AltaReturn.Portfolio accounting Fund accounting and NAV Portfolio monitoring+4Allvue Fund Accounting (waterfall module)Allvue SystemsPrivate capital fund accounting on Microsoft Dynamics 365 Business Central with an optional waterfall module for carry calculations and automated capital call processing.Capital calls and waterfalls Fund accounting and NAV PE and VC fund administration+2FirmViewAllvue SystemsCarry, co-investment and compensation management with waterfall and carry distribution for private funds; Allvue's site states the product came with its acquisition of PFA Solutions.Fee billing Capital calls and waterfalls Fund accounting and NAV Portfolio MonitoringAllvue SystemsAutomates collection of financial and operating KPIs from portfolio companies and feeds fund accounting and investor reporting on the same platform.Portfolio monitoring Fund accounting and NAV Investor portals and CRM+1Alter Domus Fund AdministrationAlter DomusFund administration for closed-end private equity, private credit, real estate and infrastructure, paired with its own fund accounting and investor management technology.Fund administrators PE and VC fund administration Fund accounting and NAV+2Alter Domus Private Equity Fund ServicesAlter DomusPrivate-markets specialist administrator doing fund accounting, capital administration, waterfall and GP carry reporting, delivered on eFront, Allvue or FIS Private Capital Suite.PE and VC fund administration Fund administrators Capital calls and waterfalls+1Flow Capital CallsApex GroupGenerates and distributes individualized capital call notices to limited partners from uploaded commitment and fee data, with an LP dashboard of issued calls.Capital calls and waterfalls LP portals Investor portals and CRM+1ArchArchAggregates private markets documents and data for LPs, family offices and advisors; site announces a Series B with MUFG Innovation Partners and Franklin Templeton.Portfolio monitoring Capital calls and waterfalls Data management+1eFrontBlackRockEnterprise alternative investment operations and analytics suite, sold by BlackRock alongside Aladdin.Portfolio monitoring Fund accounting and NAV PE and VC fund administration+4bunchbunchEuropean private-markets fund operations platform covering fund accounting, NAV reporting, capital accounts, transfer agency and treasury; the site cites a $35M Series B.Fund accounting and NAV PE and VC fund administration LP portals+3bunch fund operations platformbunchEuropean fund operations infrastructure automating capital calls, distributions, waterfall calculations and transfer agency; raised a $35M Series B.Capital calls and waterfalls PE and VC fund administration Fund accounting and NAV+2bunch Investor PortalbunchAI-native fund operations platform for European VC and PE funds whose investor portal carries communications, capital calls and a data room; raised a $35M Series B.LP portals PE and VC fund administration Fund accounting and NAV+1CanoeCanoe IntelligenceCollects alternative investment documents and extracts structured data from capital calls and distribution notices; Bloomberg has announced an intent to acquire, which I could not confirm as closed.Data management Alternative data Portfolio monitoring+1Canoe IntelligenceCanoe IntelligenceCollects alternatives documents from GP portals and extracts fund and asset level data; Bloomberg announced an agreement to acquire Canoe on 29 July 2026, still pending regulatory approval.Portfolio monitoring Data management Capital calls and waterfalls+1Carta Fund AdministrationCartaSoftware-led fund administration for private equity and venture funds, marketed around agent-driven automation and fund CFO visibility.Fund administrators PE and VC fund administration Fund accounting and NAV+2CarusoCarusoAI-native fund administration software for private markets whose reconciliation matches bank deposits to outstanding capital calls and flags partial matches.Reconciliation PE and VC fund administration Capital calls and waterfalls+3Cascata digital waterfall administration platformCascataWaterfall and carried interest calculation engine that FIS embeds inside Private Capital Suite, covering American and European carry models.Capital calls and waterfalls Dynamo PlatformDynamo SoftwareAlternatives platform listed as a fund accounting and administration alternative for private equity managers; the vendor site blocked automated access so the detail is second-hand.Capital calls and waterfalls Deal flow and CRM Portfolio monitoring+1FIS Private Capital SuiteFISPrivate equity fund and partnership accounting with digital waterfall administration, automated carried interest and capital call tracking; the vendor's own page states it was formerly named Investran.Capital calls and waterfalls PE and VC fund administration Fund accounting and NAV+3Private Capital SuiteFISFund and partnership accounting for private capital, including capital calls, distributions and carry calculations; the page states it was formerly named Investran.Fund accounting and NAV PE and VC fund administration Capital calls and waterfalls+1FundCountFundCountUnified accounting and investment platform joining portfolio accounting, partnership accounting, a general ledger and investor reporting.Combined OMS/PMS platforms Portfolio accounting Fund accounting and NAV+5FundCount Private Equity AccountingFundCountPartnership accounting with waterfalls, capital accounts and LP statements held on one record alongside the general ledger.Capital calls and waterfalls Fund accounting and NAV Portfolio accounting+2FundwaveFundwaveFund accounting and LP reporting for venture, private equity and SPVs, including carry and management fee allocations and portfolio IRR tracking.Fund accounting and NAV Capital calls and waterfalls LP portals+2Fundwave Investor PortalFundwaveFund administration platform for smaller VC, PE and family office managers with an investor portal, capital call notices and templated LP reporting.LP portals PE and VC fund administration Capital calls and waterfalls Gen II Fund AdministrationGen II Fund ServicesPrivate capital fund administrator serving 12,000+ fund entities, with its own Funded subscription tool, investor portal, analytics and DataBridge data delivery.Fund administrators PE and VC fund administration Fund accounting and NAV+2Hanover ParkHanover ParkAI-native fund administration platform that continuously three-way matches bank feeds, source documents and the general ledger, claiming 90 percent of cash auto-reconciled.Reconciliation PE and VC fund administration Fund accounting and NAV+1HRSoft Carried Interest ManagementHRSoftCompensation management platform module for carry allocation tracking, waterfall calculations, vesting logic and participant distribution reporting.Capital calls and waterfalls Fee billing Bite StreamInvestor PointeFundraising and investor management platform with a branded LP portal and reporting for capital calls, NAV updates and portfolio reporting; the company site announces that Bite Investments is now Investor Pointe.LP portals Investor portals and CRM Capital calls and waterfalls Juniper SquareJuniper SquareInvestor relations CRM, investor onboarding, LP portal and investor reporting for private funds, with a JunieAI agent layer; raised a $130M Series D in June 2025 at a $1.1B valuation.Investor portals and CRM LP portals Client reporting+1Juniper Square Fund AdministrationJuniper SquareFund accounting, treasury and waterfall modeling across the private fund lifecycle, covering fee and distribution calculations for GPs.Fee billing PE and VC fund administration Capital calls and waterfalls+4Juniper Square Investor PortalJuniper SquareBranded LP portal plus investor reporting, onboarding and fund administration for private markets GPs.LP portals PE and VC fund administration Capital calls and waterfalls+1Juniper Square Investor Relations CRMJuniper SquareAI CRM for investor relations and fundraising pipeline inside a wider private markets fund operating system that also covers portals, data rooms and fund administration.Deal flow and CRM LP portals Investor portals and CRM+2LemonEdgeLemonEdgePrivate markets accounting engine with event-driven transactions, multi-ledger allocation paths and embedded waterfalls; raised a $21M Series A led by Blackstone with BNY in July 2026.Portfolio accounting Fund accounting and NAV Capital calls and waterfalls+3LemonEdge Embedded WaterfallLemonEdgeEvent-driven private markets accounting engine with waterfall distributions, carried interest and distribution notices handled natively rather than in spreadsheets; raised a $21M Series A led by Blackstone.Capital calls and waterfalls Fund accounting and NAV PE and VC fund administration+1MasttroMasttroWealth and portfolio platform for family offices covering liquid, alternative and physical assets across entities and currencies.Combined OMS/PMS platforms Portfolio monitoring Client reporting+3Masttro Alternatives AIMasttroFamily office wealth platform module that extracts capital call and distribution notice data from documents, maps the cash flows and reconciles them against bank transactions.Capital calls and waterfalls Portfolio monitoring Data management+1MaybernMaybernPrivate fund operating system that configures custom fee bases and fee breaks to calculate management fees, and runs waterfalls, carry and capital calls; raised a $50M Series B and $76M in total per Forbes.Fee billing Capital calls and waterfalls PE and VC fund administration+1NavableNavableCloud platform for carried interest, GP compensation and employee co-investment, automating carry waterfall calculations, vesting and forfeitures.Capital calls and waterfalls Fee billing PE Front Office Investor PortalPE Front OfficeWhite-labelled LP portal covering fund performance, documents, capital call and NAV statements, investor onboarding with e-signature and an investor help desk.LP portals PE and VC fund administration Capital calls and waterfalls qashqade Allocation Calculation EngineqashqadeSpecialist allocation suite for private funds covering waterfall calculation, GP incentive and carried interest calculation, and independent LPA validation of the results.Capital calls and waterfalls Fee billing PE and VC fund administration Capital Call, PCAP and IRR AutomationQuantium TechnologyAutomates capital call and distribution notices, partner capital account reporting, IRR and TVPI, and European and American waterfall models; operated by Round Square Pte Ltd.Capital calls and waterfalls Fund accounting and NAV Performance and attribution+1SS&C GenevaSS&C TechnologiesInstitutional multi-asset investment accounting platform that comparison sites position as an alternative for partnership accounting and allocation work.Capital calls and waterfalls Portfolio accounting Fund accounting and NAV+1Standish Fund AdministrationStandish ManagementPrivate-fund specialist administrator built for PE CFOs, running fund administration on top of the leading third-party private fund technology platforms across 19 offices.Fund administrators PE and VC fund administration Fund accounting and NAV+2Zapflow Capital Call and Distribution NoticesZapflowAutomates capital call and distribution notice generation, commitment tracking and investor document management for GPs.Capital calls and waterfalls Deal flow and CRM Investor portals and CRM+1

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