Built for leading asset managers
Formulary is the trusted AI-native fund administrator for private markets. We combine expert service and powerful technology to equip investors with intelligent fund operations and tailored insights to grow their businesses.
What we do
Comprehensive fund administration services
Formulary is a strategic partner to asset managers across the investment lifecycle, delivering solutions tailored to each firm’s goals, needs and growth objectives.
What we administer
Fund entities
Special purpose vehicles
Co-investment vehicles
General partner vehicles
Management companies
Blocker and parallel entities
Who we serve
Venture capital
Growth equity
Private equity
Real estate
Fund of funds
Family offices
What we handle
Fund accounting
Capital activity
Investor reporting
Audit and tax support
Regulatory reporting
Cash and treasury
Approach
White glove service, powered by agentic infrastructure
01
Domain Expertise
Judgment that cannot be automated
Every calculation is reviewed and approved by seasoned, CPA-led fund accountants. They bring a wealth of knowledge and experience to recognize what systems miss and stand behind every number.
02
Deterministic Precision
Reliable output, by design
Waterfalls, fees, carried interest and other calculations run on fixed, auditable logic. Every figure traces back to its source and produces the same result every time.
03
Artificial Intelligence
Vigilance at institutional scale
AI reviews documents, reconciles data and detects anomalies across every fund, every day. Issues surface early, so our experts spend their time on judgment rather than data entry.
Formulary Platform
The AI operating system for fund administration
Spend less time on operations, and more time on decisions and growth. AI-native infrastructure, unified ontology and automated workflows to streamline fund administration for General Partners and Limited Partners.
01
Real-Time Calculation
Allocations, NAV and capital accounts are calculated on the fly across every fund and entity, and tie out to the cent.
02
Full Data Lineage
Every figure traces back to its precise and accurate location in the source document, whatever the original format.
03
Workflow Orchestration
Durable workflows assign each step to the right owner, with determinism, AI and expert accountants working in concert.
04
Money Movement
Integrated bank connectivity and payment rails. Capital calls settle against actual bank activity and reconcile automatically.
05
Continuous Audit
An embedded data quality layer monitors the books continuously for misattributed entries, reconciliation breaks and balance errors.
06
Unified Ontology
A single semantic model of fund structures governs the platform’s data types, permissions and relationships. Changes made once propagate across the platform.
Client Impact
Strategic partnership, personalized to your firm
Across private markets asset classes, firms of every scale, structure and complexity leverage Formulary to grow their business.
Client testimonials
Implementation was extremely smooth. All other fund administration implementations had me sifting through thousands of lines and explaining transactions. Formulary picked it up and solved it, and being hands off on implementation was very helpful.
CFO and CCO, growth equity firm
Formulary is a strategic partner, versus a service provider. Speed of iteration. Other providers build a product to “good enough” and assume it’s static. Formulary treats software and service the way they should be: a dynamic process that engages clients in what should be built and designed for them.
Partner, Venture capital firm
I have never seen anything close to the technology capabilities that Formulary has. In the past, we have always had to back into all the numbers. The platform is very helpful to validate calculations and streamline the audit process.
Investment Team, private equity firm
“AI will enable domain experts who are deeply engaged with the cognitive experience and process. I hold the human accountable for the output of the AI, but I expect that they can do things faster and more effectively with the AI.”
Dr. David Ferrucci
Principal Investigator of IBM Watson and AI Pioneer
Formulary Advisor
Results
Delivering immediate, tangible business value
100%
Client retention
9.8
Average NPS score
273×
Efficiency in onboarding
< 1 sec
Instantaneous reporting
Turn fund administration into your competitive advantage with Formulary
Security
Security held to an institutional standard
Client data is encrypted and independently audited, and it is never used to train AI models.
01
SOC 1 Type II
Independent audit of our controls over client financial reporting.
02
SOC 2 Type II
Independent audit of our security and data protection controls.
03
Audit trails
Every action is recorded with an unbroken chain of attribution.
04
Encryption
Data is encrypted at rest and in transit, with managed key rotation.
05
Authentication
Multi-factor authentication on every account, built to resist phishing.
06
Commercial agreements
Anthropic, OpenAI and Google cannot train on or retain client data.
For asset managers
Bring us your hardest problem
Share with us your funds and entities. We will walk you through onboarding, reporting and the platform.
Careers
Join the mission
Join the most ambitious team in fund administration, unleashing the full potential of asset managers.
