Hanover Park Secures $27 Million in Series A Funding
Hanover Park, an AI-native platform revolutionizing fund administration, announced a successful $27 million Series A funding round on March 18, 2026. The round was led by Emergence Capital, with additional participation from Lux Capital and Susa Ventures. Based in New York, Hanover Park aims to transform fund operations by integrating AI and expert accounting into a unified system.
AI-Driven Fund Administration
Hanover Park offers a platform designed to streamline fund operations by combining AI-native fund administration, portfolio intelligence, and enhanced LP experience. The company's unique approach allows AI to prepare fund data, which is then reviewed by expert accountants, ensuring accuracy and efficiency. This methodology addresses the industry's reliance on outdated, scattered data management practices.
"Every fund CFO keeps getting asked: how will you adopt AI? Now they have an answer," said Chris Hladczuk, Co-Founder and CEO of Hanover Park. "We built the entire operating system and wrapped it in AI that works, with CPAs checking every output, allowing you to run your firm in real time."
Rapid Growth and Market Impact
In the last year, Hanover Park has seen significant growth, expanding its assets under administration from $1 billion to $15 billion. The company aims to replace the traditional financial infrastructure that powers over $100 trillion in global assets, which often relies on outdated methods like spreadsheets and manual processes.
Strategic Use of Funds
The recently raised funds will be utilized to further develop Hanover Park's platform capabilities and expand its market reach. This investment will support enhancements to their general ledger, waterfall engine, and investor portal, among other features. The integration of AI agents that can read emails, propose journal entries, and extract portfolio updates in seconds represents a significant advancement in fund administration technology.
Leadership and Vision
Hanover Park was co-founded by Chris Hladczuk, serving as CEO, and Nick Puljic, who is the CTO. Together, they lead the company's mission to modernize fund operations through innovative AI solutions. Their vision is to provide fund managers with real-time, accurate data, enabling more informed decision-making and operational efficiency.
Conclusion
With a strong backing from Emergence Capital and other investors, Hanover Park is well-positioned to continue its growth trajectory and offer cutting-edge solutions to the challenges faced by fund managers worldwide. The company's focus on integrating AI with human expertise sets it apart in the financial technology landscape.