Acquisition Streamlines Fundraising Process while Delivering Superior Investor Experience
Ontra, the leading provider of contract automation and intelligence for the world’s most prominent asset managers, announced the acquisition of FundFormer, a top electronic subscription document provider for fund managers and their investors. The acquisition will allow Ontra’s asset management customers to raise funds faster and more efficiently, while providing a superior investment experience for their limited partners.
FundFormer works with investment funds to convert their subscription documents into a digital format and guides investors through relevant parts of the documentation. Additionally, the solution allows investors to auto-populate fields using information they’ve included in previous documents. This streamlined experience dramatically reduces errors and completion time. FundFormer also provides funds with the real-time status of each investor in the subscription process and allows fund managers to easily coordinate all parties involved, including legal counsel, fund administrators and investor relations teams. Once documents are finalized, data can be exported for use in fund administration, investor onboarding and regulatory compliance.
“We’re thrilled to welcome the FundFormer team to Ontra,” said Troy Pospisil, Ontra’s founder and CEO. “Our customers have frequently discussed the cost and pain associated with the traditional subscription document process. By combining FundFormer’s solution with our existing fund obligation management product, we will enable our customers to raise funds and manage critical investor obligations on a single platform.”
As part of the acquisition, the FundFormer team will join Ontra, including FundFormer CEO Allen Pan and co-founders Jing Sun and Aaron Barnet. With experience at some of the world’s leading asset managers and law firms, such as Simpson Thacher, the Carlyle Group, and Bridgewater Associates, the FundFormer team brings decades of industry experience. Their expertise will further enhance Ontra’s ability to deliver tailored solutions to the private markets.
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“We decided to join Ontra based on the natural synergy between our companies,” said Pan. “Collectively, our products address a broad set of problems that asset managers face in their day-to-day operations. Just as important, we’re in lock-step with Ontra’s mission to free its customers and partners to focus on what’s most important to them. We’re incredibly excited to begin working as one team.”
“We already use the Ontra platform to negotiate and process our routine contracts and have used FundFormer for our last few fundraises,” said A.J. Chianese, General Counsel of The Raine Group. “We view the Ontra acquisition of FundFormer as a natural partnership to deliver solutions to fund managers at various points of a previously manual process.”
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