How do you migrate my fund from my existing fund administrator?

Our AI-powered workflows ingest all historical records and organize them in our system. Our fund accountants review and reconcile along the way. The process is hands-off for your team.

How long does it take to switch fund administrators?

About a week for a mid-sized firm. Our AI-powered migration workflows ingest and organize your fund’s history in days rather than months, and our fund accountants reconcile. A firm with more funds, SPVs or years of history may take longer.

What is included in full-service fund administration?

Fund formation with our network of independent fund counsel. Fund and management company accounting, period-end close and NAV calculation. Capital calls and distributions. Investor onboarding, LP statements, capital account reports and quarterly reporting packages. ASC 820 valuations. Consolidated NAV analytics and portfolio monitoring. Audit-ready US GAAP financial statements with notes and supporting schedules.

Fund Administration
Redefined

We combine 20 years of fund expertise with an AI-powered platform to deliver end-to-end fund operations: integrating accounting, valuations, financials and reporting on one connected financial record

Fund
formation
Fund &
ManCo
accounting
Investor
onboarding
Capital and
investment
activities
ASC 820
valuations
Portfolio
insights
ASC 946
financial
statements
LP
reporting
Audit & tax
readiness

Our services

AlignGAAP replaces fragmented fund finance with a dedicated team that owns fund accounting, portfolio valuation, LP reporting, and audit readiness workflows in one connected platform

Coordination with independent fund counsel from our network, from term sheet to first close
Entities and accounting policies set up, and LPA economics (management fee and offsets, waterfall, carried interest, clawback, expense caps) built into the books
Fund III formation
Callowmere Ventures Fund III · target size $250,000,000
4 of 6 steps done
Term sheet agreedCallowmere Capital
DoneJun 12
Fund counsel engagedBelling Vire LLP, from the AlignGAAP network · introduced by L. Brandt
DoneJun 19
Fund entities formedDelaware limited partnership and general partner · Belling Vire LLP
DoneAug 28
Accounting and investor records set upL. Brandt, Formation lead
DoneSep 11
Limited partnership agreement, draft 3Belling Vire LLP · with Callowmere Capital for review
In reviewSep 22
First closeCallowmere Capital
TargetNov 17

US GAAP compliant books for the fund, general partner and management company, with every entry linked to its source document
Investment activity, expenses, accruals, A/P and A/R, with three-way reconciliation of bank, cap table and general ledger
Management fee calculations and offsets, and fund versus ManCo expense allocations
Period-end close, trial balance and NAV

Date	Entry and source	Amount	Tied to
Sep 16	Contributions, capital call 7Bank statement · 36 of 37 investors	$11,760,000	Bank
Sep 18	Pellory Labs, Series B sharesStock purchase agreement	2,500,000	Bank, cap table
Sep 18	Management fee, Q4 2026Fee calculation, net of offsets	750,000	Bank
Sep 22	Legal feesInvoice, Harlow Pike LLP	38,400	Bank
Sep 24	Audit fee, Q3 accrualEngagement letter	21,000	Accrued

Automated KYC/AML, subscription document review, and accreditation workflows
Investor record maintenance for commitments, side-letter terms, tax forms and verified wire instructions
Subsequent-close equalization and true-up calculations

Capital calls and distributions calculated and allocated across LPs and the GP per the LPA, including recallable amounts
Waterfall and carried interest calculations, with hypothetical liquidation and clawback analysis
Investment purchases, sales, and realized and unrealized gains and losses
Capital call 7
Callowmere Ventures Fund II · notice Sep 2, 2026 · due Sep 16, 2026
36 of 37 investors funded
Called$12,000,0008.0% of commitments
Received$11,760,00036 of 37 investors
Outstanding$240,0001 investor, followed up Sep 23
Use of proceeds
Portfolio investments $10,500,000
Management fee, Q4 2026 750,000
Fund expenses 750,000
Total called $12,000,000
Sign-offs
Notice preparedK. Mensah, Treasury specialistAug 31
Approved by Callowmere CapitalE. Hale, CFOSep 1
Notices sentK. Mensah, Treasury specialistSep 2

Item	With	Status
Subscription agreementSigned by two authorised signatories	Investor	Received Sep 8
Investor questionnaireCompleted online	Investor	Received Sep 8
Signatory documentsChecked against the subscription agreement	AlignGAAP	Verified Sep 15
Wire instructionsConfirmed by phone with the investor	AlignGAAP	Confirmed Sep 16
Portal accessThree contacts invited	AlignGAAP	Set up Sep 17
AcceptanceAt the first close	General partner	Nov 17

We apply your fund’s valuation policy consistently: methodology hierarchy, calibration, valuation frequency and valuation committee governance
Portfolio level risk assessment, performance writeup, and recent round analysis linked with cap table and COI
ASC 820 fair value support, including Backsolve and Calibration and Guideline Public Company (GPC) approach
Unobservable-input disclosures and valuation rollforward

Learn more

Portfolio company	Method	Mar 31, 2026	Jun 30, 2026
Quenwick Freight	Comparable companies	$21,000,000	$23,800,000
Tallisand Energy	Recent financing	18,750,000	18,750,000
Pellory Labs	Comparable companies	11,250,000	13,500,000
Quillane Security	Recent financing	12,750,000	12,750,000
Lintmoor Analytics	Recent financing	11,000,000	11,000,000
Brindwell Robotics	Comparable companies	8,000,000	7,500,000
Vessary Health	Recent financing	3,000,000	5,950,000
Tolvane Materials	Cost	3,000,000	3,000,000
Total fair value		$88,750,000	$96,250,000

Custom KPIs for financial highlights, IRR, MOIC, TVPI, DPI, RVPI and fair values
Live portfolio monitoring, recent news on operations and funding rounds
Automated deal term extraction

Company	Ownership	Last round	Latest
Pellory LabsDeveloper tools	11.4%	Series B, Sep 2026	Closed a $24.0M Series BSep 18
Tallisand EnergyGrid storage	14.2%	Series A, Jun 2025	Signed a 120 MWh storage contractSep 10
Quenwick FreightLogistics software	10.6%	Series B, Feb 2025	Opened a hub in RotterdamSep 3
Brindwell RoboticsWarehouse robotics	15.0%	Series A, Aug 2024	Reduced headcount by 12%Aug 27
Vessary HealthClinical software	6.3%	Series A, May 2026	Appointed a chief medical officerAug 19

Quarterly and annual US GAAP financial statements under ASC 946, including financial highlights
Notes with fair value hierarchy, Level 3 rollforward, commitments, related parties and subsequent events
Schedule of Investments updated with every transaction and valuation mark

Dedicated LP portal for notices, statements, documents and reporting history
Periodic capital account statements and quarterly reporting packages
Annual financial statements and K-1s delivered to LPs
LP inquiries handled by your dedicated team
Ashcombe Family Office
Capital account · Callowmere Ventures Fund II · Q2 2026
Q2 package published
Commitment$10,000,0006.7% of the fund
Contributed$6,400,00064.0% of commitment
Capital account$6,843,300At Jun 30, 2026
Rollforward
Opening balance, Mar 31 $5,750,000
Contributions, capital call 6 650,000
Management fee and expenses (56,700)
Net unrealized gain 500,000
Closing balance, Jun 30 $6,843,300
Q2 package
Capital account statementPublished to the LP portalJul 24
Quarterly letterPublished to the LP portalJul 24
Q2 financial statementsPublished to the LP portalJul 31

Portfolio company	Last change	Cost	Fair value
Quenwick Freight	Valuation mark, Jun 30	$14,000,000	$23,800,000
Tallisand Energy	Valuation mark, Jun 30	12,500,000	18,750,000
Pellory Labs	Purchase, Sep 18	12,500,000	17,000,000
Quillane Security	Valuation mark, Jun 30	8,500,000	12,750,000
Lintmoor Analytics	Valuation mark, Jun 30	11,000,000	11,000,000
Brindwell Robotics	Valuation mark, Jun 30	10,000,000	7,500,000
Vessary Health	Valuation mark, Jun 30	4,250,000	5,950,000
Tolvane Materials	Valuation mark, Jun 30	3,000,000	3,000,000
Total investments		$75,750,000	$99,750,000

US GAAP compliant audit workpaper support, with material balances linked to source evidence
Organized PBC support, reconciliations and supporting schedules, and coordinated investment confirmations
Tax workpapers, draft K-1s, and partner allocation schedules

Statement line	Amount (USD)	Supported by	Status
Investments, at fair value	88,750,000	Schedule of Investments	Tied
Cash	2,397,000	Bank confirmation	Tied
Line of credit	4,000,000	Lender statement	Tied
Accrued expenses	131,000	Accruals schedule	Tied
Partners’ capital	87,016,000	Capital account roll-forward	Tied
Management fees	3,000,000	Management fee calculation	In review

Date	Entry and source	Amount	Tied to
Sep 16	Contributions, capital call 7Bank statement · 36 of 37 investors	$11,760,000	Bank
Sep 18	Pellory Labs, Series B sharesStock purchase agreement	2,500,000	Bank, cap table
Sep 18	Management fee, Q4 2026Fee calculation, net of offsets	750,000	Bank
Sep 22	Legal feesInvoice, Harlow Pike LLP	38,400	Bank
Sep 24	Audit fee, Q3 accrualEngagement letter	21,000	Accrued

Item	With	Status
Subscription agreementSigned by two authorised signatories	Investor	Received Sep 8
Investor questionnaireCompleted online	Investor	Received Sep 8
Signatory documentsChecked against the subscription agreement	AlignGAAP	Verified Sep 15
Wire instructionsConfirmed by phone with the investor	AlignGAAP	Confirmed Sep 16
Portal accessThree contacts invited	AlignGAAP	Set up Sep 17
AcceptanceAt the first close	General partner	Nov 17

Portfolio company	Method	Mar 31, 2026	Jun 30, 2026
Quenwick Freight	Comparable companies	$21,000,000	$23,800,000
Tallisand Energy	Recent financing	18,750,000	18,750,000
Pellory Labs	Comparable companies	11,250,000	13,500,000
Quillane Security	Recent financing	12,750,000	12,750,000
Lintmoor Analytics	Recent financing	11,000,000	11,000,000
Brindwell Robotics	Comparable companies	8,000,000	7,500,000
Vessary Health	Recent financing	3,000,000	5,950,000
Tolvane Materials	Cost	3,000,000	3,000,000
Total fair value		$88,750,000	$96,250,000

Company	Ownership	Last round	Latest
Pellory LabsDeveloper tools	11.4%	Series B, Sep 2026	Closed a $24.0M Series BSep 18
Tallisand EnergyGrid storage	14.2%	Series A, Jun 2025	Signed a 120 MWh storage contractSep 10
Quenwick FreightLogistics software	10.6%	Series B, Feb 2025	Opened a hub in RotterdamSep 3
Brindwell RoboticsWarehouse robotics	15.0%	Series A, Aug 2024	Reduced headcount by 12%Aug 27
Vessary HealthClinical software	6.3%	Series A, May 2026	Appointed a chief medical officerAug 19

Portfolio company	Last change	Cost	Fair value
Quenwick Freight	Valuation mark, Jun 30	$14,000,000	$23,800,000
Tallisand Energy	Valuation mark, Jun 30	12,500,000	18,750,000
Pellory Labs	Purchase, Sep 18	12,500,000	17,000,000
Quillane Security	Valuation mark, Jun 30	8,500,000	12,750,000
Lintmoor Analytics	Valuation mark, Jun 30	11,000,000	11,000,000
Brindwell Robotics	Valuation mark, Jun 30	10,000,000	7,500,000
Vessary Health	Valuation mark, Jun 30	4,250,000	5,950,000
Tolvane Materials	Valuation mark, Jun 30	3,000,000	3,000,000
Total investments		$75,750,000	$99,750,000

Statement line	Amount (USD)	Supported by	Status
Investments, at fair value	88,750,000	Schedule of Investments	Tied
Cash	2,397,000	Bank confirmation	Tied
Line of credit	4,000,000	Lender statement	Tied
Accrued expenses	131,000	Accruals schedule	Tied
Partners’ capital	87,016,000	Capital account roll-forward	Tied
Management fees	3,000,000	Management fee calculation	In review

Expert-led, AI-powered

Managed administration, more control
Your team reviews and approves instead of rebuilding schedules, reconciling reports, chasing for missing support, and preparing audit requests.
Valuation is part of the close
ASC 820 valuation analysis and supporting documentation are prepared alongside the financial statements instead of becoming a separate year-end project.
Scale with a dedicated team
Add funds, SPVs, and reporting requirements without adding more overhead and infrastructure.
No audit surprises
Material balances are reconciled and linked to supporting evidence throughout the year, not assembled for the first time when the auditor asks.

AlignGAAPto me · 9:00 AM

Q3 close is ready for your review

Q3 financials
Q3 valuations
Q3 LP letter
Q3 LP accounts

Review Q3 close

Our team’s in-house expertise enables us to deliver integrated results

Operational burden and delays from fragmented providers have been the industry norm

Going beyond legacy fund administration

We take on the work a legacy fund admin leaves to other firms, or to you

AlignGAAPLegacy fund administrator

Dedicated teamOne team for accounting, valuations and audit preparation.Separate contracts, contacts and timelines for each firm.

ValuationsLevel 3 fair valuation is built in, and flows through the financials.Your team prepares valuations and audit support, or hires an expensive valuation firm.

AuditAudit-ready, evidence-linked US GAAP statements, notes and schedules.Financials with audit support prepared separately; you are still involved in reconciliation.

Portfolio dataQuarterly monitoring of operations, funding rounds and cap tables.Your team gathers it each quarter, or each year close to audit timing.

Our results

Here’s what changed for our pilot funds

$130M fund
4 daysquarterly close versus a standard 30-day close
$250M fund
60%time saved for fund managers
$60M fund
20–40%cost savings compared to legacy providers

FAQs

Our AI-powered workflows ingest all historical records and organize them in our system. Our fund accountants review and reconcile along the way. The process is hands-off for your team.
About a week for a mid-sized firm. Our AI-powered migration workflows ingest and organize your fund’s history in days rather than months, and our fund accountants reconcile. A firm with more funds, SPVs or years of history may take longer.

- Fund formation with our network of independent fund counsel
- Fund and management company accounting, period-end close and NAV calculation
- Capital calls and distributions
- Investor onboarding, LP statements, capital account reports and quarterly reporting packages
- ASC 820 valuations
- Consolidated NAV analytics and portfolio monitoring
- Audit-ready US GAAP financial statements with notes and supporting schedules

Connect with our team

Connect

Portfolio investments	$10,500,000
Management fee, Q4 2026	750,000
Fund expenses	750,000
Total called	$12,000,000

Opening balance, Mar 31	$5,750,000
Contributions, capital call 6	650,000
Management fee and expenses	(56,700)
Net unrealized gain	500,000
Closing balance, Jun 30	$6,843,300

Fund Administration Redefined

Our services

Fund formation

Fund & ManCo accounting

Investor onboarding

Capital and investment activities

Integrated ASC 820 valuation

Portfolio insights and analytics

ASC 946 financial statements

LP reporting

Audit & tax readiness

Expert-led, AI-powered

Managed administration, more control

Valuation is part of the close

Scale with a dedicated team

No audit surprises