Brio Platform and Losange Finance Are Merging, Launching as Stellé to Deliver Proven Fund Administration Expertise and Operations Technology to Private Capital Fund Managers

Combined firm brings seven years of fund administration and nine years of live fund operations technology to private capital managers across North America

MONTREAL--(BUSINESS WIRE)--Brio Platform, a fund and LP operations software company, and Losange Finance, a fund administration and accounting firm, today announced that the firms are merging. The combined entity operates as Stellé, a fund operations partner for the new era of private capital.

The merger brings together two of Canada's most established names in fund operations. Losange has delivered fund administration and accounting services to alternative asset managers since 2019; and Brio's technology platform, built and stress-tested over nine years in live fund operations, supports more than 100 funds and 3,000 LPs. Stellé carries forward the clients, teams, and track record of both companies, serving venture capital, private equity, real estate, and multi-family office managers, including firms with complex structures such as SPV programs, parallel funds, and evergreen vehicles. Terms of the transaction were not disclosed.

Experienced specialists and proven technology, working as one
Private capital fund managers have typically had to choose between outsourcing fund administration to a provider, or using software their own team has to operate. Stellé combines both, delivering a centralized solution that supports the entire life of a fund, underpinned by a proven services and fund administration team with an established delivery record and a trusted AI-enabled technology platform.

With Stellé, accountants and operations specialists from the Losange team will deliver fund administration, fund accounting, capital calls, distributions, and investor reporting directly on the Brio platform. The technology, built for GPs running their own operations, now also powers fully outsourced funds and will extend deeper into fund and GP accounting. Managers decide what their own team handles with Stellé's tools and what they hand to Stellé's specialists. In either case, the GP, its LPs, and the Stellé team share one system and one data set. This eliminates any fragmentation and gives managers full visibility into their operations at any point in a quarter; a single reconciled record across the fund; faster turnaround with fewer errors; and a professional, branded experience for their LPs.

Stellé's platform is built for the AI era, where AI models and expert humans work together to improve how fund work gets done. Because Stellé writes and maintains the fund record on its own platform, the technology works from complete and reconciled data, and human specialists review and stand behind the output before anything reaches an LP.

The company's longer-term vision is to be the end-to-end partner for private capital fund managers in the AI era, with teams, technology and data working as one. For managers reporting to institutional LPs and preparing for annual audits, that means a partner with a long delivery record, independently audited controls, and specialists accountable for the numbers. When fund operations run smoothly on that foundation, they stop being overhead and become an asset to the firm, while GPs stay focused on the core business.

The combined company will have a team of 25, led by Audrey Ostiguy as CEO and Claude Olivier Girard as President.

"AI is changing the private capital industry and the way fund operations work gets done, and that raises the bar for the partners firms trust with their funds," said Audrey Ostiguy, CEO of Stellé. "Managers need a partner they can rely on from both a technology and a human perspective: a platform built on complete, reliable data, and experienced specialists who review the work and are accountable for it. Stellé brings both together, and we intend to be a long-term partner to the firms we serve as they move into this new era of private capital."

”Our clients are audited every year, and their LPs expect every number to be right. They trust us with their fund administration because our team gets the details right, takes responsibility for the work, and understands the complexities behind it,” said Claude Olivier Girard, President of Stellé. “Delivering that expertise on the Brio platform means we can do it more efficiently while giving clients greater visibility into their fund operations between reporting periods. With Stellé, we’re keeping the expertise and relationships that clients value while giving more fund managers access to the responsiveness, visibility, and control they increasingly expect.”

Losange was founded in Montreal in 2019 by Claude Olivier Girard, beginning as a fractional CFO practice for startups before building a fund administration business for private capital managers.

Brio launched in 2017 as an internal platform at Brightspark Ventures, built to support the firm's LP operations, SPV model and compliance requirements. It was spun out as an independent company in 2025, led by Audrey Ostiguy.

As an integrated entity, Stellé serves North American private capital fund managers across strategies, fund structures, and stages of growth from offices in Montreal and Toronto.

About Stellé
Stellé is an integrated fund operations partner for private market fund managers. The firm brings together experienced specialists and a modern technology platform that delivers fund accounting, investor management, and compliance on one connected system shared by the fund manager's firm and its LPs. With complete and connected data, automation and AI streamline workflows, surface insights, and support more efficient fund operations. Built on deep experience and a proven track record in both fund services and fund technology, Stellé gives managers the expertise, technology, and flexibility to run their funds more effectively while staying focused on investing and growing their core business. More information is available at stelle.co.