Capsa AI, a startup building the AI operating system for private capital, has raised £14 million in a Series A round co-led by TX Ventures and Pivot Investment Partners, with significant participation from Bek Ventures. Funding will be deployed into US market expansion, hiring across engineering and go-to-market, and further investment in the platform's agentic and indexing capabilities.
All existing institutional investors reinvested in the Series A, including Antler, Outward VC, and Cornerstone VC, alongside industry angel investors from leading private capital firms and tier-1 US operators, including Paul Forster, co-founder of Indeed. To date, Capsa AI has raised £15 million in total.
Private capital manages over $15 trillion in assets, yet most of it is still tracked across PDFs, emails and spreadsheets. Investment professionals lose more than 500 hours per year to manual search and analysis, costing the industry an estimated $35 billion annually. AUM has tripled since 2015 and data volumes double every three years, but team sizes have not kept pace.
The platform indexes funds' entire data estates across CRM, Outlook, SharePoint, and proprietary sources into a single knowledge layer that captures how a fund thinks and works. Across leading private capital firms, the platform indexes millions of internal sources and tens of thousands of deals - every memo, conversation and decision a firm holds - making decades of institutional knowledge instantly searchable for the first time. Built on a model-agnostic architecture, Capsa AI is SOC 2 Type II certified, with single-tenant deployment options, regional data hosting, and no training on client data.
The round closes on the back of a 100% customer renewal rate, more than 122% net dollar retention, and 14x year-on-year ARR growth. Growth has been entirely founder-led with zero paid acquisition, and more than 50% of booked ARR is now on multi-year contracts. Weekly active usage sits at 70% and daily active usage at 40%. To date, Capsa AI has never lost a paid proof-of-concept evaluation to a competitor. The team stands at 14 people across London and New York.
Co-founder and CEO Danyal Oezduezenciler participated in more than 50 due diligence processes at AEA Investors, Citi, and Deutsche Bank before co-founding the business, bringing over seven years of experience in private equity and investment banking. Co-founder Callum Downie has a track record of leading machine learning teams and developing AI products across the full machine learning lifecycle, with experience at companies including ThirdEye Labs and Standard AI.
Private capital is one of the most data-intensive industries on earth, and it has been chronically underserved by technology. We set out to build the platform that changes that - one that encodes how a fund thinks and operates and then executes on it. We're bringing world-class AI to private capital, and the support of TX Ventures, Pivot Investment Partners, Bek Ventures, and all of our existing investors will allow us to scale what we're building even faster.
Private capital is one of the largest knowledge-work markets still running on fragmented documents, emails and siloed systems. We invested in Capsa because the team is building a purpose-built intelligence layer for how funds source, diligence and monitor investments - not a generic AI copilot. The product compounds with every workflow and every piece of institutional knowledge captured, which is exactly the kind of vertical AI infrastructure we believe will define the next generation of financial services software. Danyal, Callum and the team have shown exceptional customer pull, capital efficiency and enterprise-grade execution, and we are excited to support them as they scale across Europe and the US.
We are privileged to co-lead Capsa AI's Series A. We are strong believers that purpose-built vertical AI solutions will win over horizontal approaches in financial services - competing here requires specific domain expertise and detailed knowledge about how the industry actually thinks and operates, not retrofitting general-purpose tools to it. Capsa is doing exactly that for private capital. The founding team's deep operating experience inside leading PE firms combined with world-class AI engineering positions them to build the compounding knowledge layer that will define competitive advantage in the industry.
