Capsa AI, an artificial intelligence platform designed for private capital firms, has raised $18 million in Series A funding. The round was co-led by TX Ventures and Pivot Investment Partners, with significant participation from Bek Ventures.
Existing institutional investors Antler, Outward VC, and Cornerstone VC also participated in the financing. The round included backing from executives and angel investors connected to the private capital and technology industries, including Indeed co-founder Paul Forster.
The Series A brings Capsa AI’s total funding to $20 million. The company plans to use the new capital to expand across the United States, hire additional engineering and go-to-market employees, and advance the platform’s agentic AI and data-indexing capabilities.
Founded in 2024 by Danyal Oezduezenciler and Callum Downie, Capsa AI is building what it describes as an AI operating system for private capital. The company has offices in London and New York and serves investment firms operating across buyout, growth equity, and private credit strategies.
The platform indexes a private capital firm’s internal information across systems including customer relationship management platforms, Outlook, SharePoint, proprietary databases, emails, investment documents, and other data sources.
Capsa AI organizes this information into a unified knowledge layer intended to reflect how an investment firm evaluates opportunities, conducts due diligence, monitors portfolio companies, and manages internal operations.
Rather than introducing AI as a standalone assistant layered onto existing processes, Capsa AI embeds its technology throughout the investment lifecycle. The platform supports workflows including deal sourcing, due diligence, investment analysis, portfolio monitoring, and back-office operations.
The company said its software is already being used by several of the world’s largest private capital firms. Additional enterprise deployments are being introduced across the United States and Europe.
Capsa AI has recorded substantial commercial growth over the past year. The company reported a 14-fold increase in annual recurring revenue, a 100% renewal rate among eligible customers in its target market, and net dollar retention exceeding 122%.
More than half of the company’s booked annual recurring revenue is now associated with multiyear contracts. Capsa AI said its growth has been driven entirely by its founders without spending on paid customer acquisition.
The platform has also recorded a weekly active usage rate of approximately 70% and a daily active usage rate of about 40%. Capsa AI said it has not lost a paid proof-of-concept evaluation to a competing platform.
The company currently employs 14 people across London and New York. Its expansion accelerated after it opened its New York office and Oezduezenciler permanently relocated to the United States to lead the company’s growth in the market.
Capsa AI is targeting an industry that manages more than $15 trillion in assets but continues to depend heavily on documents, emails, spreadsheets, and disconnected software systems.
Investment professionals may spend more than 500 hours each year manually searching for information and analyzing data, according to figures cited by the company. Capsa AI estimates that these processes cost the private capital industry approximately $35 billion annually.
The volume of information managed by private capital firms has also increased as the industry has expanded. Assets under management have tripled since 2015, while data volumes are estimated to double every three years. However, employee headcounts have not increased at the same rate.
This imbalance creates pressure on investment teams to evaluate more opportunities, monitor larger portfolios, and manage increasing amounts of institutional knowledge without proportionally expanding their teams.
Capsa AI aims to address this challenge by making investment memoranda, email conversations, diligence materials, portfolio data, and prior decisions searchable through a common system.
Across its customers, the platform indexes millions of internal sources and information connected to tens of thousands of transactions. This can allow firms to access historical knowledge that might otherwise remain dispersed across individual inboxes, archived documents, shared drives, and disconnected applications.
The company believes that organizing this information can help investment professionals reduce repetitive work, identify relevant precedents, and apply institutional knowledge more consistently when evaluating new transactions.
Capsa AI was designed specifically for private capital by founders with experience in investment banking, private equity, and machine learning.
Before co-founding the company, Oezduezenciler spent more than seven years working in private equity and investment banking at AEA Investors, Citi, and Deutsche Bank. During that period, he participated in more than 50 due diligence processes.
Downie has experience building artificial intelligence products and leading machine learning teams. His background includes working across the machine learning development lifecycle at ThirdEye Labs and Standard AI.
The platform uses a model-agnostic architecture, allowing Capsa AI to work with different underlying artificial intelligence models rather than depending on a single provider.
Capsa AI is SOC 2 Type II certified and provides single-tenant deployment options and regional data hosting. The company said it does not use customer information to train its models.
These capabilities were developed to meet the security, data governance, privacy, and regulatory requirements of major financial institutions, which frequently handle confidential information involving investments, companies, management teams, and transactions.
Artificial intelligence adoption within private capital is accelerating. Capsa AI cited data indicating that 47% of limited partners are closely monitoring how their fund managers adopt AI, while 75% of general partners plan to invest in AI and digital transformation during the year.
The company believes AI adoption will increasingly affect how private capital firms compete, particularly as investors seek to evaluate more opportunities, respond faster to market developments, and extract additional insights from their proprietary data.
The Series A financing will enable Capsa AI to increase investment in the infrastructure that collects, indexes, and retrieves information from firms’ internal systems.
The company also plans to develop more agentic capabilities, enabling its platform to complete multistep tasks and execute workflows using a firm’s internal knowledge and established processes.
KEY QUOTES:
“Private capital is one of the most data-intensive industries on earth, and it has been chronically underserved by technology. We set out to build the platform that changes that—one that encodes how a fund thinks and operates and then executes on it. We’re bringing world-class AI to private capital, and the support of TX Ventures, Pivot Investment Partners, Bek Ventures, and all of our existing investors will allow us to scale what we’re building even faster.”
Danyal Oezduezenciler, CEO and Co-Founder of Capsa AI
“Private capital is one of the largest knowledge-work markets still running on fragmented documents, emails and siloed systems. We invested in Capsa because the team is building a purpose-built intelligence layer for how funds source, diligence and monitor investments—not a generic AI copilot. The product compounds with every workflow and every piece of institutional knowledge captured, which is exactly the kind of vertical AI infrastructure we believe will define the next generation of financial services software. Danyal, Callum and the team have shown exceptional customer pull, capital efficiency and enterprise-grade execution, and we are excited to support them as they scale across Europe and the US.”
Krzysztof Bialkowski, Partner at TX Ventures
“We are privileged to co-lead Capsa AI’s Series A. We are strong believers that purpose-built vertical AI solutions will win over horizontal approaches in financial services—competing here requires specific domain expertise and detailed knowledge about how the industry actually thinks and operates, not retrofitting general-purpose tools to it. Capsa is doing exactly that for private capital. The founding team’s deep operating experience inside leading PE firms combined with world-class AI engineering positions them to build the compounding knowledge layer that will define competitive advantage in the industry.”
Dinkar Jetley, Co-Founder and Managing Partner at Pivot Investment Partners
