Lantern, a data assurance platform focused on private markets, announced the acquisition of Freyda, an AI-powered document intelligence company, as part of a broader expansion aimed at addressing data trust and operational efficiency challenges across the private markets ecosystem.
The transaction combines Lantern’s data validation and assurance capabilities with Freyda’s document intelligence technology to create what the company describes as the first end-to-end data assurance platform for private markets. Financial terms of the acquisition were not disclosed.
Private markets firms increasingly rely on large volumes of data generated across multiple systems and documents, including capital notices, quarterly statements, and fund reports. While general partners (GPs) have modernized many internal reporting processes, limited partners (LPs) and fund administrators often continue to rely on manual extraction, normalization, and reconciliation of data from unstructured documents.
Founded by Danielle Lawrence Sandhu and James Moore, Freyda developed machine learning technology that automates the extraction, processing, and normalization of financial information from unstructured documents. According to the company, its platform enables clients to process data significantly faster while improving accuracy.
By integrating Freyda’s technology, Lantern aims to connect the full lifecycle of private markets data, from GP-generated reports through LP consumption and investment decision-making. The combined platform is designed to reduce manual workflows and provide a trusted, auditable data infrastructure for fund managers, investors, and administrators.
In conjunction with the acquisition, Lantern also announced several leadership additions. Jef Rice joins as Chief Technology Officer, Jeff Williams as Chief Product Officer, and Freyda co-founder James Moore joins the organization. Lantern said its leadership team now brings more than 200 years of combined experience across private markets and technology, including multiple founders who have built and scaled industry-focused businesses.
Lantern was founded by Edward Moore, the former CEO of Aztec Group, and provides a data assurance layer designed to continuously validate and verify information across private markets workflows. The company’s platform is intended to help firms reduce manual review processes and improve confidence in reporting and operational data.
The acquisition reflects growing demand for automation and data integrity solutions as private markets continue to expand in size and complexity, increasing the volume of information that must be processed, validated, and reported across investment organizations.
KEY QUOTES:
“Private markets firms have more visibility than ever before: more systems, more integrations, more dashboards; and yet, someone on the team is still manually checking the numbers before every report goes out. That’s not a tooling problem. It’s a trust problem. By bringing these companies together, Lantern can now provide an unbroken trusted line of sight from source document to investment decision connecting the full lifecycle of private markets data in a way this industry has never had before.”
Edward Moore, Founder And CEO, Lantern
