Ellis

Sunil and I would like to congratulate Ryan Williams, Jason Liao, and the entire Ellis team on emerging from stealth with their $10M+ seed round, co-led by Kearny Jackson and our friend Josh Kopelman at First Round Capital, with the participation of Khosla Ventures, Slow Ventures, Exceptional Capital, Josh Kushner, Immad Akhund and others.

After building and selling Cadre, Ryan came away with an insight that the real constraint in private financial markets wasn't access to more data but was the absence of a trusted operating system underneath it.

Private credit has become one of the fastest-growing segments of finance. Trillions of dollars move through the industry every year but much of its operations still run on spreadsheets, fragmented systems and endless reconciliation. As firms have become more sophisticated, the bottleneck shifted from making investment decisions to simply knowing which numbers are correct.

Ellis is building an AI-native operating platform for private credit, bringing institutional-grade operations to every manager in a multi-trillion-dollar market whose infrastructure hasn't kept pace.

We’re excited to be involved in his journey! You can read more about Ellis here. Forbes coverage of the fundraising here.