Manual workflows leave too much room for error.
Subscription docs, bank statements, capital accounts, and investor data often live across different folders and inboxes. Teams re-key numbers into spreadsheets and catch issues late.
AI-native fund administration for private funds.
Ledra is a fund administration firm for venture capital and private equity. Capital calls, NAVs, LP reporting, reconciliation, and audit trails are handled by AI agents and reviewed by licensed CPAs before they reach your investors.
FirmAI-native fund admin
ReviewedBy licensed CPAs
For fundsVC + PE, $25M–$500M AUM
Legacy fund administration still runs on email and spreadsheets.
The work is essential, but too much of it is still manual: document intake, allocations, reconciliations, notices, approvals, and audit support stitched together across disconnected tools.
A single wire can take twelve follow-ups.
Capital calls still move through inboxes, not systems. Reconciliations are checked by eye. A missed reply can delay a close, an LP notice, or a distribution.
Legacy administrators are built for quarterly batches.
Shared inboxes, PDF reports, and long close cycles make it hard for CFOs and GPs to answer basic questions without another request, another export, or another status call.
The CFO becomes quality control.
Every output funnels through a small team before investors see it. Audits, board requests, and LP questions all compete with the same manual close process.
Work that used to take teams days becomes an auditable agent workflow.
A capital call, run by Ledra agents in front of you. Subscription docs in. Notices, wires, and reconciled ledgers out. A licensed CPA reviewer signs the last line.
Ledra TerminalLDR-MV3CC04
--:--:--Meridian Ventures III
Demonstration · LP names, commitments, and audit identifiers are illustrative.
Three steps from fund documents to CPA-reviewed LP notices.
Onboarding starts with the documents you already have. After that, agent workflows keep the work moving continuously, with human review before anything reaches investors.
Share your fund documents.
Subscription agreements, side letters, LPAs, prior NAVs, bank feeds. Drag them in or grant read-only access — Ledra parses everything in minutes.
Agents process your books.
Capital calls, NAV calculations, reconciliations, K-1 prep, waterfalls. Agents work across your data continuously, not on a quarterly cadence.
Ledra CPAs review and release.
A licensed CPA reviewer checks every output before it reaches an LP. The audit trail records every source, change, and approval.
The full back office, end to end.
Not a tool you have to operate. A team of agents, overseen by Ledra CPAs, running the operational spine of your fund.
Capital Calls
Pro-rata schedules, wire instructions, LP notices, and reconciliation against bank feeds — drafted, reviewed, sent.
NAV Calculations
Quarterly and ad-hoc valuations across your portfolio. Mark-to-market, mark-to-model, holdback adjustments. Auditable methodology, every line.
LP Reporting
Quarterly statements, capital account roll-forwards, performance metrics. Branded PDFs and a queryable LP portal — same source of truth.
Cash Reconciliation
Daily reconciliation between bank feeds, sub-ledger, and the GP's books. Variances surfaced before they become problems.
K-1 Preparation
Schedule K-1s prepared in collaboration with your tax counsel. Investor allocations, special items, and state apportionment, fully documented.
Waterfall Calculations
American or European waterfalls, GP catch-up, hurdle rates, side-pockets. Modeled on your LPA, not on a generic template.
Every number reviewed by a licensed CPA. Nothing reaches your LPs without human sign-off.
Ledra pairs AI-native workflows with licensed CPA review. Every report, calculation, and notice is checked before distribution and recorded in an immutable audit trail.
Reviewed
100%
Every output, every time. No exceptions.
Audit trail
Immutable
Every change, every approval, cryptographically sealed.
Sign-off
By name
A licensed CPA puts their name on each report.
Talk to an AI-native fund admin firm.
Ledra works with VC and PE funds that want fund administration built around agents, CPA review, and auditable workflows. Share a few details and we’ll follow up personally.
- 01Built for venture capital and private equity funds, especially $25M–$500M AUM.
- 02Works as your fund administrator or alongside your existing back office.
- 03Onboarding starts with your LPA, subscription docs, prior books, and bank feeds.