Eunice, a due diligence infrastructure startup, has raised £6 million in seed and pre-seed funding from Moonfire Ventures and Speedinvest, with participation from Openspace Ventures. It builds institutional-grade infrastructure that standardises how complex investment decisions are assessed, documented and defended across regulated markets. The new funding will deepen Eunice’s agent capabilities, expand coverage across private markets and scale commercial operations.
It was founded on the premise that as alternative assets grow in scale and complexity, the standards for documenting and defending investment decisions must evolve. The infrastructure replaces fragmented and manual due diligence workflows with auditable frameworks and embedded human oversight, enabling institutions to demonstrate how decisions are reached while maintaining professional judgement. Digital assets provided an early environment where this need was acute, with Eunice deploying agents that deliver structured, audit-ready, asset-level assessments.
The infrastructure is now being applied more broadly across alternative assets, where allocators including pension funds, endowments and funds of funds face increasing expectations around governance, documentation and transparency. As private markets scale toward tens of trillions in assets and digital assets mature under new regulatory regimes, both markets are converging around a shared demand for transparency, standardisation and defensible decision-making.
Eunice works with firms including Coinbase, Crypto.com, Copper and Zodia Custody, and has contributed to digital asset disclosure template development through the UK Financial Conduct Authority’s Regulatory Sandbox. It was founded by Yi Luo, previously Founding CSO at FreeUp, and Philip Lam, previously co-founder of Nex and VP of Engineering at GoodNotes, where he helped grow the app to over 30 million users globally.
When decision-making in alternative assets is opaque, risk doesn't disappear - it just becomes invisible until it isn'tt. As these markets grow more complex and more visible, institutions need to show not just what they decided, but how. We're building the infrastructure that makes that process structured, transparent and defensible - without stripping away professional judgement.
Eunice represents the next generation of vertical AI startups that redefine how critical work is done in regulated markets. In a world where "general-purpose AI is moving into verticals, advantage comes from systems that embed regulatory logic, accountability and domain workflow. Eunice is codifying how regulated institutions operate. That depth of integration, combined with strong early traction and deep domain expertise, positions it to lead the market.
