Hanover Park

The AI-native fund admin. $15 billion in assets

[Hanover Park @hanoverpark]

Onwards.

[Chris Hladczuk @chrishlad]

We raised a $27M Series A to replace the spreadsheets and human duct tape behind $100 trillion in global assets.

Fund administration is the invisible backbone of private equity and venture capital - and it’s broken.

Why?

Financial data is scattered, stale, and locked inside legacy providers. Books take forever to close. Basic questions about your own fund take days to answer.

So we rebuilt the general ledger, waterfall engine, investor portal, and portfolio management from scratch.

One single source of truth for your firm.

Our AI agents read emails, propose journal entries, and extract portfolio updates in seconds. Our CPAs review every output.

Today, we administer $15 billion in assets - and we’re just getting started.

Every fund CFO keeps getting asked: how will you adopt AI?

Now you have an answer.

Run your firm in real-time with @hanoverpark.

–-

Excited to partner with Jake Saper at @emergencecap @peterjhebert at Lux, @chadbyers/@pratyushbuddiga at Susa and CFOs at the largest private equity firms to forge this future.

[Turner Novak 🍌🧢 @TurnerNovak]

The top AI-native investors are choosing @hanoverpark

[Chris Hladczuk @chrishlad]

One of the top private equity CEOs started his own fund.

One of his first decisions:

[Chris Hladczuk @chrishlad]

Thomas Swalla sold Dotmatics to Siemens for $5.1 billion.

Now he and Jared Rosen (10+ years at Insight Partners) are building IO Capital - the first AI-native growth equity firm.

And they just chose @hanoverpark as their fund admin and financial infrastructure.

"If we're going to operate agent-first, our infrastructure has to match. We made a deliberate choice to align IO with partners who share our conviction that AI-native software compounds value. Hanover Park didn't bolt AI onto a legacy platform - they built it from scratch.”

A firm whose investment workflow runs on agents can't run its back/middle office on data silos and manual reconciliation.

Our philosophy: AI prepares. Expert accountants review.

One vertically integrated system of record across fund admin, portfolio intelligence and the LP experience.

Agent-first investment firms will be the ones that survive and thrive in this new era.

Proud to power IO Capital.

[Chris Hladczuk @chrishlad]

What is wrong with legacy fund admins?

There are many reasons... but a big one is SLOWNESS.

We onboarded a new, complex fund recently and delivered this magical moment.

1) Onboarded new SPV
2) Triggered notification to LPs
3) CFO requested a capital call in natural language
4) Hanover Park approved and automatically posted notices to LPs

This happened in 6 hours.

And is only possible with an AI-native fund admin.

[Chris Hladczuk @chrishlad]

Last week I sat with 6 fund accountants at @hanoverpark for 15 minutes each.

Not our GPs. Not our CFOs. Our A+ team members owning customer outcomes.

What I got back: 14 product issues that are SILENTLY eating hours every quarter.

Here’s what legacy every fund admin gets wrong:

Their domain expert fund accountants are disconnected from engineering. Everyone feels powerless to impact change.

What do we do differently?

1) Every fund accountant sits in NYC alongside our engineers. No remote work telephone.

2) We build 100% of our own tech. No whitelabeled general ledgers. No stitched-together bill pay.

3) Domain experts pair directly with engineers to ship fixes. No PMs translating. No middlemen.

The result?

Relentless, obsessive focus on solving blockers to a day 0 close.

[Chris Hladczuk @chrishlad]

Word of mouth is the best "sales team" for @hanoverpark.

[Turner Novak 🍌🧢 @TurnerNovak]

.@hanoverpark is the 10th one

Hiring engineers, design, ops, sales, and fund accountants in NYC

[Hanover Park @hanoverpark]

@chrishlad Architects not order takers.

[Chris Hladczuk @chrishlad]

Last month, we radically changed how we ship product at @hanoverpark.

And it makes engineers 10x happier. Here’s how…

Pre-AI, engineers took tickets and shipped features.

Post-AI, engineers own product outcomes.

We want engineers to be architects... not order takers.

So what did we do?

1) We set trackable metrics that each engineer owns.

For example, this could be moving AI email agent no edit rate from 70% to 90% in a defined period.

The engineer that owns this metrics then creatively brainstorms and whiteboards the best way to move the metric.

2) We paired engineers with fund accountants to absorb domain expertise.

Fund accountants are our domain experts... and are valued as product managers / customer experts on their own pain points.

The goal?

Collapse the feedback loop from idea to code.
--

If this is interesting, don't hesitate to reach out. We're hiring more engineers + fund accountants to join our team.

[Chris Hladczuk @chrishlad]

I'm hiring a Founding Deployment Strategist at @hanoverpark.

This role means a lot to me. It's the closest thing to founding a company while inside one - you are the person that helps billion dollar CFOs navigate the AI transformation.

• When a customer needs a feature - they spec it or ship it.

• When a workflow doesn't exist - they build the SOP from scratch.

• When a CFO needs training on our Claude MCP - they build the skill.

Your only outcome metric?

Time to turn signed customer into raving fan.

We run through walls for our customers. That's the only way to disrupt incumbents that have been around since the 1980s.

Generalist builders thrive here - the product/ops/GTM hybrids who want to forge hard problems into existence.

You may be a former founder, ex investment banker/consultant, a product person or engineer who loves obsessing over customers.

If this is you, or you know someone great, please reach out.

(Link below for the application)

[Chris Hladczuk @chrishlad]

I love polite persistence.

Whatever it takes to win... do.

[Chris Hladczuk @chrishlad]

If you're an engineer that wants to join a startup, watch this:

[Chris Hladczuk @chrishlad]

I love this Jeff Bezos quote:

"Wake up every morning terrified... Not of our competition, but our customers. We consider everyone loyal to us - right up until the second that someone else offers them a better service.

We must continue to invent on our customer's behalf to earn their business and trust.

[Chris Hladczuk @chrishlad]

"Company values" are mostly generic and useless. So I wrote a manifesto titled "How to Succeed at @hanoverpark" instead.

Every new joiner reads it on their first day.

Here's one part about our values...

1) Egoless Execution

A willingness to do the schlep is important at Hanover Park. The best people take work off your plate rather than piling it on. And being senior is no exception. All individuals need to:

- do individual contributor work as their primary job.

- develop the skills to ruthlessly prioritise tasks with the business goals in mind.

- Be hungry for as much context as possible to make high quality high level decisions on your own

2) Maniacal Urgency

No startup has ever built a multi-entity general ledger from scratch in 6 months or migrated billions in assets in months.

Our entire company lives and dies on urgency.

Working at Hanover Park is not the type of satisfaction you feel from relaxing on the beach. It’s the satisfaction you feel from the best workout class of your life.

This level of urgency will be uncomfortable for you, our vendors and anyone we encounter.

However, it’s the standard we must demand of ourselves to make our customers raving fans.

This means…

- We hate it when someone tries to schedule a meeting for next week instead of the same day.

- We ruthlessly question timelines… “what would need to be true to accomplish this 1 month goal in 1 week?”

3) Own the Details

Building financial infrastructure is all about the specifics. This means debugging complex allocations. Or wrangling messy historical data.

You are owning the details if you physically traced the excel sheet migration file and know about the incorrect date format on row 27 based on the historical PDF capital call notice to debug a migration.

The people who are not deep in the details and go to the source waste everyone’s time - this includes me as CEO. I will likely have less details than you on a topic - so I expect you to tell me I’m wrong.

You earn the right to a strong opinion by owning the details.
--

What do you think about these values?

[Hanover Park @hanoverpark]

Engineering first hacker culture!

[Chris Hladczuk @chrishlad]

How we're building our engineering team culture at @hanoverpark:

[Chris Hladczuk @chrishlad]

How we're building our engineering team culture at @hanoverpark:

[Chris Hladczuk @chrishlad]

Always get on the plane.

[Chris Hladczuk @chrishlad]

@hanoverpark Full episode with @TurnerNovak here:

https://t.co/aRdu1PPVQQ

[Chris Hladczuk @chrishlad]

Product velocity is everything - and engineers demo to the whole team on Friday night.

if this sounds fun, apply @hanoverpark

[Off/Menu™ @WeAreOffMenu]

Our friends at @hanoverpark got a new brand and $27m. Not bad!