AngelList Acquires Ark, Combining Fund Administration Software, Banking, and AI in One Platform

SAN FRANCISCO--(BUSINESS WIRE)--AngelList, a software platform building the financial system for private markets, today announced the acquisition of Ark PES (“Ark”), a fund management software platform serving more than 500 GPs and fund administrators across venture capital and private equity, supporting more than $185 billion in assets. Terms of the transaction were not disclosed.

AngelList’s acquisition of Ark will expand the AngelList financial system to all fund administrators in private markets, combining Ark’s purpose-built fund administration software with AngelList’s banking and payments infrastructure, investor services capabilities and AI-enabled product development. Together, AngelList and Ark will continue to invest in new capabilities that help fund managers, LPs and fund administrators automate and scale their operations, delivering greater efficiencies across an increasingly complex private markets landscape.

“Ark’s outstanding team has built a highly respected platform for fund administrators and private fund managers,” said Avlok Kohli, CEO at AngelList. “Bringing these companies together will create significant benefits to customers, enhancing our AI capabilities and driving innovation and product development. By combining Ark’s software with AngelList’s infrastructure, cap table software and payments capabilities, we are creating a comprehensive suite of solutions for the private markets.”

“For almost a decade, Ark has been built around the belief that fund administrators and GPs deserve software that works the way they do,” said Bill Ward, CEO of Ark. “Joining AngelList allows us to accelerate that mission. Our customers will gain access to a broader platform, deeper product investment and integrated banking and payments capabilities that can meaningfully improve how funds are administered and serviced. Together, Ark and AngelList will offer a more complete set of features that weren't possible within a single platform.”

The combined platform is expected to deliver meaningful benefits to customers, including:

AI-Native Fund Reporting and Operations. AngelList will support Ark with its ongoing rollout of AI across its fund accounting, investor reporting, and fundraising workflows. This will reduce manual work, improve accuracy and provide Ark clients with increased access to data. These capabilities will enable fund administrators and GPs to operate with greater speed, consistency and scale.

A Broader Product Suite Across the Fund Lifecycle. The combined offering will support clients across cap table, portfolio monitoring, fund administration, and investor relations including fundraising, CRM and e-subscription documents. The integration of AngelList's banking network will provide Ark's fund administrators and their client access to payment rails which clear capital calls, distributions, and subscriptions in minutes instead of days. AngelList has 150,000+ accredited investors, including high-net-worth individuals & institutions, already holding accounts on its banking and payments network.

Deep Private Markets Operating Expertise. Through AngelList’s broader platform, it has direct insight into the evolving needs of both emerging managers as well as established GPs and their investors. This operating knowledge will inform product development and customer support, helping the platform deliver software that reflects how managers operate on a day-to-day basis.

About AngelList

AngelList is building the financial system for the private markets, where the defining companies of this era start, grow, and scale. The platform supports over $170 billion in assets, over 25K funds and syndicates, and 72K active investors. For more information, visit angellist.com.

About Ark

Ark is a trusted, purpose-built platform for the private capital markets, empowering forward-thinking venture capital, private equity, fund-of-funds, real estate firms, and fund administrators to operate with confidence and agility. Ark's comprehensive back office and investor relations solutions powers fund managers and administrators to efficiently scale their operations through a highly configurable, intuitive platform for fund accounting, LP reporting, and fundraising. For more, visit arkpes.com.