It started with a familiar itch, the kind only battle-scarred operators notice. Back in 2018, Scott C. Ganeles and Laurence A. Tosi, two guys who’ve already built empires others now take for granted, reunited at WestCap and spotted déjà vu in private markets. The inefficiencies. The patched-together workflows. The fragmented systems pretending to pass for “infrastructure.” They’d seen this movie before. But this time, they weren’t playing defense. This time, they brought Bill Sherman into the mix and started laying track for something bigger: iAltA.
Fast forward to May 12, 2025. iAltA doesn’t just launch, it detonates with a $20 million initial round, led by none other than WestCap. That’s not a coincidence. That’s a strategic shot straight through the noise. Tosi isn’t just backing the play, he is also a co-founder of the company. And WestCap isn’t just a checkbook, it’s iAltA’s sandbox, proving ground, and now, its first major customer. $6 billion AUM testing real-world use cases in real time? That’s not beta. That’s battlefield validation.
Let’s get this straight: iAltA isn’t selling software, it’s building essential infrastructure. Verivend’s payment engine? Already running capital calls and distributions on rails smoother than Wall Street’s last apology tour. Betterfront’s analytics? Giving GPs predictive power over LP behavior before the pitch deck even hits the inbox. And now? A compliance orchestration layer that turns SEC headaches into automated workflows with the precision of an HFT algo.
This isn’t a product, it’s a platform. A digital stack built by practitioners for practitioners. One that shreds the manual reconciliation dance and plugs straight into 87 fund admin tools. This is the difference between building something for the ecosystem and actually becoming the ecosystem.
Let’s talk talent. Ganeles scaled Ipreo into a $1.9B monster. Sherman turned data into $240M ARR. EVP Rodney Reisdorf brings real-world muscle from Verivend and FIS. The culture? Half the engineers come from high-frequency trading. Translation: speed and precision are baked into the DNA.
Here’s what most folks miss: iAltA isn’t trying to “disrupt.” It’s trying to fix what broke while everyone was too busy chasing unicorns. Fund admin, investor reporting, compliance software, all legacy markets ripe for reinvention. And with platform adoption already surging, they’re chasing a $5.5B revenue ceiling, not vanity metrics.
Let’s connect and keep the momentum going across the tech ecosystem. Whether you’re a founder shaping the future, a leader driving change, a VC backing bold ideas, or an investor spotting the next big thing—together, we’re pushing boundaries. Proud to be building the future with you.
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