The AI-native fund administrator grew from $1B to $15B in assets under administration in under 12 months

Hanover Park raises $27M Series A to replace the financial infrastructure behind $100 trillion in global assets. The AI-native fund administrator grew from $1B to $15B in assets under administration in under 12 months. March 18, 2026 16:37 ET | Source: Hanover Park NEW YORK, March 18, 2026 (GLOBE NEWSWIRE) - Hanover Park, the AI-native fund administrator for private equity and venture capital, today announced a $27 million Series A led by Emergence Capital (the first institutional investor in Salesforce and Zoom), with participation from Lux Capital and Susa Ventures. Fund administration powers over $100 trillion in global assets, yet the industry still runs on spreadsheets and human duct tape. Data is scattered and stale. Books take weeks to close. Basic questions about your own fund take days to answer. Hanover Park is the first AI-native company attacking this market, combining software and services into one platform rather than selling another SaaS tool that doesn't solve the whole problem. The company built its general ledger, waterfall engine, investor portal, and portfolio management layer from scratch: one source of truth for every fund. AI agents read emails, propose journal entries, and extract portfolio updates in seconds. Expert fund accountants review every output. AI prepares. Humans verify. "Every fund CFO keeps getting asked: how will you adopt AI?" said Chris Hladczuk, CEO and co-founder of Hanover Park. "Now they have an answer. We built the entire operating system and wrapped it in AI that works, with CPAs checking every output, allowing you to run your firm in real time." In the past year, Hanover Park has grown from $1 billion to $15 billion in assets under administration, serving a growing roster of PE and VC firms that demand institutional-grade accuracy at modern speed. "Most companies are still trying to bolt AI onto legacy workflows. Hanover Park represents a different model entirely: an AI-native service that owns the result end-to-end," said Jake Saper, General Partner at Emergence Capital. "This shift from selling tools to delivering outcomes will define the next generation of category leaders." With the new capital, Hanover Park will expand its platform, grow its team, and bring AI-native fund administration to more of the world's leading PE and VC firms. About Hanover Park Hanover Park is the AI-native fund administrator for private equity and venture capital. Its vertically integrated platform combines fund administration, portfolio management, and an LP portal into a single system that delivers institutional-grade accuracy, speed, and decision advantage. Headquartered in New York, Hanover Park administers $15 billion in assets for leading investment firms. Learn more at hanoverpark.com.