Almost two years ago @RyanAWms joined @firstround’s PMF Method. He'd just left his first company (@CadreRE, the real estate investment platform he scaled to $6.5B+ in AUM before selling to @Yieldstreet) and was pressure testing ideas for his next one. He kept coming back to a problem he'd ran into head-first as a fund manager: basic portfolio questions were strangely hard to answer.
“What’s our net IRR to our top 10 LPs?” took weeks of hunting across spreadsheets and disconnected systems instead of just a couple of clicks. He wasn't alone in making hundred million-dollar+ investment decisions based on stale data in Excel.
Today he and his team are launching @ellis_company , the AI-native operations platform that solves this problem for private credit. They’ve built a unified data layer that connects every system, along with AI agents that take the first pass on all the workflows teams have had to run manually, from reconciliation to waterfalls.
It was a privilege to lead Ellis’ $10M seed round and get to work with Ryan from the very beginning as everything was still taking shape. More on what they’re up to in @Forbes today:
forbes.com/sites/jeffkauflin…
Link
Ryan Williams’ Next Act After Cadre: A Fintech Fix For Private Credit’s Data Mess
Two years ago, Williams sold his commercial real estate fintech startup Cadre for more than $300 million. His new venture uses AI to solve thorny problems in how private credit firms track their...
forbes.com