Hanover Park, an AI-native fund administrator for private equity and venture capital firms, announced it has raised $27 million in Series A funding led by Emergence Capital, with participation from Lux Capital and Susa Ventures.
The company is focused on modernizing fund administration, a sector that supports over $100 trillion in global assets but still relies heavily on manual processes, fragmented data systems, and slow reporting cycles. Hanover Park has built an integrated platform combining fund administration, portfolio management, and investor reporting into a single system designed to deliver real-time insights.
Its technology stack includes a proprietary general ledger, waterfall engine, investor portal, and portfolio management layer, all unified into a single source of truth. The platform leverages AI agents to automate workflows such as reading emails, proposing journal entries, and extracting portfolio updates, while human accountants verify outputs to ensure institutional-grade accuracy.
Over the past year, Hanover Park has grown its assets under administration from $1 billion to $15 billion, serving a growing base of private equity and venture capital firms seeking faster and more reliable operational infrastructure.
The company plans to use the new funding to expand its platform capabilities, scale its team, and bring its AI-native fund administration services to more firms globally.
KEY QUOTES:
“Every fund CFO keeps getting asked: how will you adopt AI? Now they have an answer. We built the entire operating system and wrapped it in AI that works, with CPAs checking every output, allowing you to run your firm in real time.”
Chris Hladczuk, CEO And Co-Founder, Hanover Park
“Most companies are still trying to bolt AI onto legacy workflows. Hanover Park represents a different model entirely: an AI-native service that owns the result end-to-end. This shift from selling tools to delivering outcomes will define the next generation of category leaders.”
Jake Saper, General Partner, Emergence Capital
