OnCorps AI, an agentic AI platform focused on fund operations for asset managers and fund administrators, has raised $55 million in growth capital from Long Ridge Equity Partners to accelerate product development, expand go-to-market capacity, and scale infrastructure to support a growing customer base.
The Boston-based company said the new funding will be used to broaden deployment of its AI agents across core fund operations, including trade reconciliations and fund documentation workflows, while also pushing into adjacent capital markets processes such as cash management, regulatory reporting, and more complex trade processing.
Founded in 2011, OnCorps positions its technology as an autonomous exception resolution layer for fund operations. The company says its platform goes beyond identifying discrepancies by investigating root causes, proposing resolutions, and learning from production patterns to reduce repeat breaks over time. OnCorps added that its specialized agents are trained on large volumes of real-world exceptions across trade processing, fund accounting, and reporting workflows, with continuous learning designed to improve accuracy and speed in live environments.
The financing comes as many asset managers continue to face operating margin pressure tied to rising transaction volumes, growing regulatory requirements, and ongoing fee compression. OnCorps said firms, including PIMCO and GMO, are among the institutions using its platform to reduce manual work and streamline operational processes, and that its customer footprint represents $13 trillion in assets.
As part of the investment, Long Ridge Managing Partners Jim Brown and Kevin Bhatt will join the OnCorps AI board.
Support: The company also disclosed several advisors involved in the transaction, including TD Securities as lead financial advisor and Altman Solon as consulting partner. Goodwin Procter served as legal counsel to Long Ridge, while Sidley Austin LLP served as legal counsel to OnCorps.
KEY QUOTES:
“We’ve been running complex AI solutions in production for the world’s largest asset managers for several years, giving us a meaningful advantage in delivering tangible returns from AI,” said Bob Suh, Founder of OnCorps AI. “Every day, our systems close exceptions, reconcile trades, and oversee trillions in assets with high accuracy and low error rates. With Long Ridge’s investment, we can expand these capabilities across the broader industry.”
Bob Suh, Founder, OnCorps AI
“OnCorps AI has built the market-leading AI platform for fund operations,” said Jim Brown. “Their production-ready agents are trained on domain-specific data and workflows, delivering immediate operational value. We are excited to partner with Bob and the OnCorps team as they scale the business.”
Jim Brown, Managing Partner, Long Ridge Equity Partners
