The books, the calls, the carry and the portal — one ledger.
FUN/D runs a private fund from the general ledger outward: fund and investment accounting, capital calls and distributions, automated waterfalls modelled to your LPA, investor reporting, tax and compliance — with a branded LP portal and native iPhone and Android apps that read the same books your auditor does.
Investment management software for private funds. The ledger, the capital activity and the LP portal in one system, licensed per firm.
What is investment management software for private funds?
Investment management software for private funds is a system that keeps a fund's books of record — commitments, capital accounts, calls, distributions, fees, valuations and carried interest — and produces investor reporting and an investor portal from those same records. It replaces the spreadsheet-plus-portal stack most funds run on with one ledger that the finance team, the administrator, the auditor and the LP all read.
Start from the ledger and the rest follows.
Most platforms in this category began as a CRM or a portal and added accounting later, so the number the LP sees is synced from somewhere else. FUN/D began as the ledger. A capital account statement, a call amount, a carry allocation and a portal balance are all views of the same journal entries — so the close is the reporting dataset and the portal is its read side.
- Fund accounting — partner capital, allocations, fees, multi-entity, multi-currency, ASC 946 / IFRS
- Capital calls and distributions — pro-rata from commitments, notices, acknowledgement, bank reconciliation
- Waterfalls and carried interest — European, American and hybrid, clawback, escrow, per-investor trace
- Investor reporting — capital account statements, ILPA templates, quarterly packs, K-1 delivery
- LP portal — the same ledger, white-labelled on your domain
- IR CRM and fundraising — every LP record carries its commitment, side letter and unfunded balance
The five jobs that matter most, on one ledger.
Accounting, automated waterfalls, investor reporting, compliance and tax are where funds lose weeks every quarter. In FUN/D they share one set of books, so none of them waits on another.
Accounting
Partnership and investment accounting, multi-entity and multi-currency, closing into NAV and every capital account.
Automated waterfalls
European, American and hybrid tiers modelled to your LPA, run on every distribution with a per-investor trace.
Investor reporting
Capital account statements, quarterly packs and ILPA templates assembled from the closed ledger.
Compliance
Audit trail, KYC records, Form PF and Annex IV data, and consistent gross and net performance.
Tax
Tax-ready allocation data for your preparer; K-1s matched and delivered through the portal and app.
Mobile app
Native iPhone and Android apps that clients tell us their investors love.
Your investors' fund, in their pocket.
Native apps for iPhone and Android read the same ledger as the web portal. Capital accounts, performance, statements, notices and K-1s are two taps away, with the same permissions and secure sign-in.
It's the part of the platform our clients tell us their investors like most, and it cuts the "can you resend my statement" emails that fill an IR inbox.
Configured to the firm, not the firm to the software.
Side letters, MFN elections, co-invest vehicles, PIK facilities, promotes, feeder funds, class-level hedging. The things that make a fund yours are the things templated platforms make you work around.
Private equity & buyout
Multi-tier carry, GP commitment carve-outs, fee offsets, AIVs and co-invest consolidated with the main fund.
Venture capital
SAFEs, notes and priced rounds through conversion; reserves against unfunded commitment; recycling within the LPA cap.
Real estate
Property-level actuals rolled up through SPVs, promote waterfalls per deal, syndications with hundreds of small LPs.
Private credit
Facility-level accounting, daily accrual and PIK, borrower covenants, monthly income distributions.
Fund administrators
Every client in separate books and a white-label portal, maker-checker on every posting, one firm-wide licence.
Allocators & family offices
A program ledger across managers: commitments, call calendar, manager report collection, look-through exposure.
How FUN/D compares
Written by us from each vendor's public materials. Read it as one vendor's view, then verify on your own fund.
| Capability | FUN/D | Allvue | Dynamo | Juniper Square | Backstop |
|---|---|---|---|---|---|
| Fund accounting and portal on one ledger | Yes | Yes (Dynamics-based) | Yes (newer GL) | Yes (with their admin) | Not core |
| Waterfall configured to the LPA with per-investor trace | Yes | Configurable | Supported | Supported | No |
| Investor CRM and fundraising pipeline | Yes | Native | Core strength | Native | Core strength |
| Allocator research and look-through | Program ledger | Limited | Strong | No | Core strength |
| Pricing basis | Flat, per firm | Enterprise quote | Per user | Software + services quote | Per user |
| Typical time to live | Weeks | Months | Months | Weeks to months | Months |
All 18 comparisons · Best investment management software, ranked
Questions before you write to us
What is FUN/D?
FUN/D is investment management software for private funds — fund accounting, capital calls and distributions, distribution waterfalls, investor reporting, an IR CRM and an LP portal on one general ledger — built in New York by the team behind InvestorPortalPro
How is FUN/D different from InvestorPortalPro?
Same company, different centre of gravity. InvestorPortalPro is an investor portal and IR product for firms whose accounting lives elsewhere. FUN/D is the books of record — the ledger, capital accounts and waterfall — with that portal as its read side. Firms move from one to the other without migrating investor records.
Who uses investment management software like FUN/D?
General partners from first fund to fund six across private equity, venture, real estate and credit; fund administrators serving several GPs; and allocators such as funds of funds, family offices, endowments and pensions that track commitments across managers.
How is it priced?
A flat annual licence per firm, scoped by entities and modules. No per-user, per-investor or per-document charges. A written quote follows one conversation; see pricing.
Does FUN/D replace our fund administrator?
No. Administrators and auditors get their own roles and the full audit trail. Some clients run FUN/D with a third-party administrator working inside it; some administrators run FUN/D for their clients.
Where is data hosted?
US cloud hosting by default, EU region available, and self-hosted deployment for firms whose policy requires it. See security.
Is there a mobile app?
Yes. FUN/D has native apps for iPhone and Android that read the same ledger as the web portal, with the same permissions. See the mobile app.
Does FUN/D handle tax and compliance?
FUN/D keeps the tax-ready allocation data your preparer needs and delivers K-1s through the portal and app, and it holds the audit trail, KYC records and fund data behind filings such as Form PF. It does not prepare tax returns or file regulatory reports on your behalf. See tax and compliance.
Tell us the fund's structure. We'll show it running on the ledger.
Name and work email — that's the whole form. A person replies, usually the same day, with a demo on a structure like yours.
Talk to us
Name and work email. We reply within one business day, from a person.
Sent.
Someone from FUN/D will email you within one business day. If it's urgent, call +1-212-658-0862.