AngelList said on July 16, 2026, that it had acquired Ark PES, a Boston company that makes fund accounting, investor reporting and fundraising software for private-markets fund administrators and general partners. AngelList chief executive Avlok Kohli announced the deal in a blog post.
The companies did not disclose financial terms. Ark's chief executive, Bill Ward, is part of the announcement, and AngelList said Ark's customers would gain access to its infrastructure for fund accounting, banking and cap tables in the coming months.
AngelList did not say whether Ark will keep operating under its own brand. Ark's website now notes that the company is being acquired by AngelList.
What Ark built
Ark was founded in Boston in 2017, according to CB Insights, and has spent close to a decade building back-office and investor relations software for private fund managers and administrators. Its platform covers fund accounting, an investor portal, private capital fundraising, and reporting and analytics, for venture capital, private equity, fund-of-funds and real estate managers.
In April 2024 Ark launched its own general ledger, arkGL, positioning it as a full fund accounting system for private funds and an alternative for funds kept on other ledgers.
Most of Ark's business runs through fund administrators, which use the software on behalf of their own clients. AngelList named Standish Management, MeritageAG and Kranz Consulting among them. Together, Ark's administrators serve more than 500 venture and private equity firms with over $185 billion in assets on the platform.
“Ark has been built around the belief that fund administrators and GPs deserve software that works the way they do.”
Why AngelList is buying
AngelList describes itself as building the financial system for private markets, with products covering fund management and accounting, banking, rollup vehicles and cap tables. Fintech Futures reported that it supports more than $170 billion in assets, over 25,000 funds and syndicates and 72,000 active investors.
The deal is meant to close a gap between fund administration software and the money movement underneath it. Capital calls, distributions and subscriptions can take days when they run through wire transfers on traditional banking rails. AngelList said its banking network, which holds accounts for more than 150,000 accredited investors, can clear those transactions in minutes, and that banking and payments are coming to Ark's customers.
AngelList also plans to apply its AI tools to Ark's workflows, including LP onboarding, portfolio monitoring, fund accounting and investor reporting. Kohli said bringing the companies together would bring significant benefits to customers.
AngelList, based in San Francisco, said its banking offer rests on more than 10 years of fund operations and on banking relationships with tier-one partners. Its product lines include fund administration, investor management, rollups and USVC, a separate product managed by AngelList Asset Management that is open to retail investors subject to eligibility requirements.
What changes for administrators
For Ark's administrator clients, the promised change is a broader product. Ward said that joining AngelList would accelerate Ark's mission and that the combined companies would offer features that were not possible within a single platform. Fintech Futures reported that the combined offering is set to cover the full fund lifecycle, from cap table management and portfolio monitoring to investor relations, CRM and electronic subscription documents.
Vidhi Kanoongo, chief financial officer and private capital practice lead at Kranz Consulting, one of Ark's administrator customers, welcomed the combination and called the mix of fund administration technology, banking and AI a meaningful step forward for the industry.
AngelList said the AI-native workflows it plans will span LP onboarding, portfolio monitoring and reporting, areas where administrators still do much of the work by hand. It did not give a timetable beyond saying that access to its fund accounting, banking and cap table infrastructure would come in the coming months.
The funding
Ark raised relatively little outside capital. CB Insights lists total funding of $3.4 million for the company and does not break it into named rounds.
That makes Ark a small software company with an outsized footprint in assets under administration, which is what AngelList is buying: a route into fund administrators that do not use its own fund administration service, without having to win their clients one by one.
