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The big theme: Three platforms framed themselves as AI-native investment management in the same week. Moment announced $78M with $10T in client assets. Transient.AI took a Series A from the PE specialist for capital markets infrastructure. Addepar, the $9T wealth-tech incumbent, shipped AI agents at AddeConf26.
On May 19, Moment announced a $78M Series C led by Index Ventures, with Andreessen Horowitz, Avra, and existing investors; total funding reaches $134M. The New York company, founded in 2022 by ex-Citadel Securities quants Dylan Parker (CEO), Ammer Soliman, and Dean Hathout, runs what it calls an AI operating system for investment management, unifying trading, portfolio management, and compliance across asset classes. Wealth firms and fintechs overseeing $10T+ in client assets build on Moment, including Edward Jones, LPL Financial, and Hightower Advisors. Up from $300B eighteen months ago. Per Index Ventures partner Jan Hammer, wealth firms are “betting their next decade” on Moment.
The same week, Transient.ai closed a Series A led by NEXT Investors. The New York company, with offices in Miami, Singapore, and India, sells an AI Operating System for institutional trading spanning front, middle, and back office. The SEC filing puts the round just under $10M. NEXT Investors has spent 25 years investing only in capital markets infrastructure (clearing, settlement, data, trading systems); Founding Partner Greg Grimaldi led. On May 22, Addepar used its AddeConf26 annual conference to unveil new AI agents, expanded Addison capabilities, and deeper Addepar Data Exchange connectivity. Addepar manages and advises on $9T across 1,400+ firms in nearly 60 countries. CTO Bob Pisani called Addepar “the AI-native platform that turns complexity into a competitive edge.”
Three vendors at different ends of the market: Moment in wealth management, Transient in trading infrastructure, Addepar in portfolio data and reporting. They would not share a G2 category, and Addepar did not pitch “operating system” the way Moment and Transient did. But they’re clearly thinking along similar lines.
Notable investment tech raises
bunch raised a $35M Series B led by Portage with Illuminate Financial; Motive Partners, Cherry Ventures, and Fintech Collective re-upped. Total funding: $58M. Berlin- and London-based bunch, co-founded in 2021 by CEO Enrico Ohnemüller and Levent Altunel, runs an AI-native fund operations platform for European private markets. The system ingests unstructured fund documents, extracts traceable data, and spans the fund lifecycle: investor onboarding, administration, compliance, capital calls, distributions, reporting. bunch supports 150+ fund managers and 12,000+ LPs across major European jurisdictions, including FINVIA Family Office, Passion Capital, Hummingbird VC, Merantix, Redstone, and Antler. ARR grew 300% in 2025 with 156% net revenue retention.
Stilta raised $10.5M seed ($10.26M per SEC filings) led by Andreessen Horowitz (David Haber), with Y Combinator and operators from Sana, Legora, OpenAI, Lovable, Listen Labs. Founded December 2025 by four ex-McKinsey engineers led by CEO Oskar Block, the Stockholm-based YC W26 company is expanding to New York. Stilta runs agentic AI for patent enforcement, defense, commercialization, invalidity, infringement, and freedom-to-operate, reasoning across 180M patents, 250M scientific publications, 1T+ Wayback Machine pages, and USPTO prosecution history. Roche, Alfa Laval, Maersk, and three of the five largest IP firms globally are live or in pilots. Patent diligence sits in every tech M&A and growth-equity workflow, making the application layer worth tracking for PE and VC managers.
KYG Trade raised an $18.66M seed for AI-native trade and tariff management. It automates HS classification, export jurisdiction reviews, restricted party screening, and FTA qualification for Fortune 500 compliance teams, trade attorneys, and government agencies. Founder Todd R. Smith is a US Licensed Customs Broker and former Big 4 partner at EY and KPMG (18 years). KYG is listed in the Gartner Market Guide for Global Trade Management 2025, ISO 27001 certified, and runs on Microsoft Azure microservices. Trade compliance has moved within one degree of fund-manager attention as portfolio companies absorb tariff regime shifts.
On the radar
On May 19, President Trump signed Executive Order 14405, “Integrating Financial Technology Innovation Into Regulatory Frameworks,” directing financial regulators to identify within 90 days the rules blocking fintech-bank partnerships and asking the Federal Reserve to evaluate granting non-bank firms direct access to Fed payment accounts within 120 days. “Fintech firm” is defined broadly: payment processing, investment management, brokerage, custodial and fiduciary services, capital-market activities, and blockchain-based services. Pending Fed master account applications from Ripple, Anchorage Digital, and Wise sit directly downstream.
At Google I/O 2026 on May 19-20, Google launched Gemini 3.5 Flash, Antigravity 2.0, Managed Agents in the Gemini API, and a Gemini Enterprise Agent Platform. With Anthropic’s May 5 financial services agents and OpenAI’s May 11 DeployCo already in market, the frontier-model layer in finance is now a three-vendor race. Anthropic and OpenAI both took PE capital into enterprise deployment JVs; Google did not.
Circle Internet Group (NYSE: CRCL) filed a $221.99M Arc Token private presale closed May 8, led by a16z crypto with Apollo Funds, ARK Invest, BlackRock, Bullish, General Catalyst, Haun Ventures, Intercontinental Exchange, IDG Capital, Janus Henderson, Marshall Wace, SBI Group, and Standard Chartered Ventures. Arc valued at $3B fully diluted; 740M ARC tokens sold at $0.30 under Reg D, with one-year-plus lock-ups from the planned proof-of-stake transition. CEO Jeremy Allaire told CNBC Circle is “entering the operating system business” with Arc.
Talwex closed a $120k seed for bond market lifecycle automation with built-in instant settlement.
Eisen raised $18.5M: a $10M Series A led by MissionOG and a previously undisclosed $8.5M seed led by Index Ventures, with Cowboy Ventures, First Round Capital, Homebrew, and Restive Ventures. The New York company sells AI-enabled compliance operations infrastructure for escheatment, monitoring nearly $16B at close to 50 firms including Adyen, Binance.US, BitGo, OKX, and PeoplesBank. With the GENIUS Act and the new EO pulling stablecoins and digital assets into the regulated perimeter, escheatment under 50 state regimes is a fast-moving compliance problem.
The takeaway for investors
For emerging managers, the platform-stack question is now an LP diligence item alongside fund admin and OMS. For allocators, the new GP question is which platform portfolio company tech spend consolidates onto, not which AI tool the analyst uses. For advisors, nearly $20T in client assets sit on Moment and Addepar combined. The firms not on a platform are the exception.
Data sourced from SEC filings, the Federal Register, company announcements, and alternative signal tracking by Rob Saunders at WhoFiled. Reporting draws on coverage from Bloomberg, GlobeNewswire, BusinessWire, Sifted, LawSites, Law360, Finovate, Fortune, CNBC, PR Newswire, the White House, the Google Developer Blog, SEC EDGAR, and Circle investor releases.