AngelList has acquired Ark PES, a provider of fund management software for private markets, in a deal that will expand its platform for fund administrators. The companies did not disclose the financial details of the transaction. Ark works with over 500 general partners and fund administrators in venture capital and private equity, supporting more than $185 billion in assets.
The acquisition brings together Ark’s fund administration software and AngelList’s banking and payments infrastructure, investor services, and AI-related product development. The combined platform will be available to fund administrators across private markets, enabling them to automate and expand their operations. The companies will co-invest in new capabilities to support fund managers, limited partners, and administrators.
Ark CEO Bill Ward stated that joining AngelList will allow the company to accelerate its mission of providing software that meets the needs of fund administrators and general partners. He noted that customers will gain access to a broader platform, deeper product investment, and integrated banking and payments capabilities.
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AngelList will support Ark’s rollout of AI in fund accounting, investor reporting, and fundraising processes to reduce manual tasks and improve accuracy. The combined product set will cover cap table management, portfolio monitoring, fund administration, and investor relations, including fundraising, CRM, and electronic subscription documents. Ark’s administrator clients and their customers will also gain access to payment rails through AngelList’s banking network.
AngelList CEO Avlok Kohli said that bringing the companies together will create significant benefits for customers, enhancing AI capabilities and driving innovation and product development. He noted that the combination of Ark’s software with AngelList’s infrastructure, cap table software, and payments capabilities will create a suite of solutions for the private markets.
The acquisition is expected to provide customers with a more complete set of features and capabilities. Ark’s customers will gain access to AngelList’s banking and payments infrastructure. Meanwhile, AngelList’s customers will benefit from Ark’s expertise in fund administration and accounting.
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It is a significant deal.
The deal highlights the growing importance of technology in the private markets, where fund administrators and managers are looking for ways to automate and streamline their operations. As the demand for more efficient and effective solutions continues to grow, it is likely that we will see more acquisitions and partnerships in the private markets technology space. They will drive innovation and improve the overall ecosystem.