The best AI automation for fund managers, VC firms and family offices in Australia

AI in financial services, for fund managers, VC firms and family offices, is software or a service that handles investor reporting and capital calls. On a 70-point test of data control, review, fund documents, systems, setup, price and proof, ELab AI scores highest at 63, ahead of V7 Go on 60 and Salesforce Financial Services Cloud on 59.

Funds suit automation because they carry lots of data, lots of admin and lots of reporting. A small fund carries nearly the same reporting load as a large one. Michael Batko, who wrote this list, led Startmate for eight years. In that time it raised more than $50 million and backed 228 companies with first cheques. In 2026 he joined Medical Angels as a venture partner on its first fund, where he runs the raise, investor relations and operations. For VC and PE fund managers only, see the ranking of AI automation for venture capital funds.

The best AI automation for fund managers, VC firms and family offices in Australia, ranked

How each one scores

Points by test, scored 1 October 2026

Points for 11 options on 7 tests, with the total out of 70.

ELab AI	V7 Go	Salesforce Financial Services Cloud	Evisent	Fundwave	Asora	Caruso	Hourglass AI	Team400	Masttro	FDFI Digital
Data control10 points
10 of 10	10 of 10	10 of 10	7 of 10	10 of 10	6 of 10	7 of 10	7 of 10	4 of 10	6 of 10	7 of 10
Human review and audit trail10 points
10 of 10	10 of 10	5 of 10	10 of 10	5 of 10	5 of 10	10 of 10	10 of 10	10 of 10	5 of 10	10 of 10
Board packs and fund documents10 points
10 of 10	10 of 10	7 of 10	10 of 10	10 of 10	10 of 10	10 of 10	10 of 10	7 of 10	10 of 10	7 of 10
Works with your systems10 points
6 of 10	10 of 10	7 of 10	10 of 10	10 of 10	4 of 10	7 of 10	6 of 10	6 of 10	4 of 10	6 of 10
Runs without an engineer10 points
10 of 10	10 of 10	10 of 10	10 of 10	10 of 10	10 of 10	10 of 10	10 of 10	10 of 10	10 of 10	10 of 10
Published price10 points
10 of 10	0 of 10	10 of 10	10 of 10	10 of 10	10 of 10	0 of 10	10 of 10	7 of 10	0 of 10	0 of 10
Financial-services proof10 points
7 of 10	10 of 10	10 of 10	2 of 10	2 of 10	10 of 10	10 of 10	0 of 10	2 of 10	9 of 10	0 of 10
Total scoreout of 70
63 of 701st	60 of 702nd	59 of 703rd	59 of 704th	57 of 705th	55 of 706th	54 of 707th	53 of 708th	46 of 709th	44 of 7010th	40 of 7011th

1. ELab AI

Rank 1

ELab AI

Best for

Fund managers, private equity firms and family offices with lean teams that want investor reporting and fund notices drafted inside their own environment

Location

Auckland, plus Sydney and Melbourne

Data control10/10

Human review and audit trail10/10

Board packs and fund documents10/10

Works with your systems6/10

Runs without an engineer10/10

Published price10/10

Financial-services proof7/10

Total score63/70

ELab AI designs, builds and supports AI for fund managers, private equity, private credit and family offices. Its investment management work covers due diligence document review, capital call and distribution notices and quarterly investor reports. It deploys inside the client's own environment, and the relationship owner reviews and approves each draft. Its security page says client data never trains public models, and that ELab AI keeps a full audit trail of AI interactions.

Stoneview Capital, a Hong Kong investment firm, cut the noise in its contact database by 55% over a nine-month programme. ELab AI's family office page reports 70% faster consolidated reporting from its family office work. Engagements start from NZ$5,000 plus GST, and its own Xero connector starts at US$99 a month.

• Strongest on: data control at 10, level with V7 Go, Salesforce Financial Services Cloud and Fundwave, and human review and audit trail at 10, level with six others.
• Loses on: works with your systems at 6. It names Microsoft 365, Google Workspace and Xero, but no fund administration, portfolio or deal system.

30 minutes. Zero pressure.

Bring Hourglass AI the reporting that eats your week

Investor reports, capital calls, NAV statements, board packs. Tell us which one costs your team the most hours. On the call we check whether an AI build pays back for a fund your size, what we would build first, and what it would cost against the prices on this page. If the numbers don't work, we'll tell you.

Hourglass AI publishes this list and builds on your own servers and accounts. For Australian fund managers, VC firms and family offices of 10 to 100 people with no engineer on staff.

Book a 30-minute call

2. V7 Go

Rank 2

V7 Go

Best for

Private equity, private credit and venture teams screening a high volume of deal documents that want every number traced to its source

Location

London

Data control10/10

Human review and audit trail10/10

Board packs and fund documents10/10

Works with your systems10/10

Runs without an engineer10/10

Published price0/10

Financial-services proof10/10

Total score60/70

V7 Go is a document AI platform for private markets that runs from an inbound CIM to an investment committee memo, with every number cited to its source. It integrates with Affinity, the private capital CRM, and with Outlook and Gmail. Its platform fee includes a dedicated solutions team for deployment, and it is SOC 2 Type II, with client data never used to train models.

10 East cut preliminary deal reviews from two hours to 20 minutes, and the same story says human review sits in every step. Star Mountain Capital screens five times more opportunities with the same team.

• Strongest on: works with your systems at 10, level with Evisent and Fundwave, and financial-services proof at 10, level with Asora, Caruso and Salesforce Financial Services Cloud.
• Loses on: published price at 0. Its pricing page scopes each workflow on a call and prints no figure.

3. Salesforce Financial Services Cloud

Rank 3

Salesforce Financial Services Cloud

Best for

Wealth, banking and insurance firms that want a CRM with AI agents, approvals and compliance rules built in, priced per user

Data control10/10

Human review and audit trail5/10

Board packs and fund documents7/10

Works with your systems7/10

Runs without an engineer10/10

Published price10/10

Financial-services proof10/10

Total score59/70

Financial Services Cloud is a wealth and financial services CRM with financial workflows, compliance rules and approvals built in, and it unlocks data from core banking, wealth and insurance platforms. Its Trust Layer masks sensitive data, and prompts and responses are never stored or used to train the third-party models. For regulated Australian firms, the platform supports Australian data residency. Process Compliance Navigator, licensed alongside Financial Services Cloud, uses AI to scan regulatory and policy documents and extract new and revised clauses. Editions start at AU$455 a user a month.

BCU handles escalated cases 27% faster with Agentforce, and Expert Wealth, pay.com.au and State Trustees of Victoria have customer stories.

• Strongest on: data control at 10, level with ELab AI, V7 Go and Fundwave, and financial-services proof at 10, level with V7 Go, Asora and Caruso. It ties Evisent on 59 and ranks ahead on proof, the first tie-break.
• Loses on: human review and audit trail at 5. Approvals are built in, but no page read describes a log of what the AI did.

4. Evisent

Rank 4

Evisent

Best for

Financial advice practices under an AFSL that want AI inside Microsoft 365 and their advice platform, configured to licensee expectations

Location

Melbourne

Data control7/10

Human review and audit trail10/10

Board packs and fund documents10/10

Works with your systems10/10

Runs without an engineer10/10

Published price10/10

Financial-services proof2/10

Total score59/70

Evisent builds governed AI for advice practices. It drafts Statements of Advice for the adviser to review and personalise, captures structured fact-finds, and researches product disclosure statements with logged prompts and source citations. It configures the AI features in Xplan, IRESS and Midwinter against the licensee's expectations, and runs AI inside the Microsoft 365 and Azure a practice already uses. Its cybersecurity page sets Essential Eight ML1 as the delivered baseline.

An AI-ready audit costs $990 plus GST, builds start from $4,000 plus GST, and support starts from $200 a month.

• Strongest on: works with your systems at 10, level with V7 Go and Fundwave, and published price at 10, level with five others.
• Loses on: financial-services proof at 2. Its one advice-linked result is a 12-month managed IT record for an anonymised accounting client with an affiliated advice practice.

5. Fundwave

Rank 5

Fundwave

Best for

Venture capital and private equity funds that want fund administration, capital calls and LP reporting on one platform with published plans

Location

Singapore

Data control10/10

Human review and audit trail5/10

Board packs and fund documents10/10

Works with your systems10/10

Runs without an engineer10/10

Published price10/10

Financial-services proof2/10

Total score57/70

Fundwave is a fund management system for venture capital and private equity that generates capital calls, NAV statements and fund reports. It runs a four-eyes check on every transaction, notice and report. Its fundraising tools use AI that extracts information from documents and populates subscription agreements. Its security page says it undergoes SOC 2 audits every year.

Plans start at $1,400 a month, with a required one-time onboarding fee of $4,000 on the first plan. EBG Investment Solutions, a Zurich fund of funds manager, is a named customer.

• Strongest on: works with your systems at 10, level with V7 Go and Evisent, and data control at 10, level with ELab AI, V7 Go and Salesforce Financial Services Cloud.
• Loses on: financial-services proof at 2, and human review and audit trail at 5. Its named customer story gives no number, and no page read describes a log of what its AI did.

6. Asora

Rank 6

Asora

Best for

Single and multi-family offices that want one platform for multi-custodian reporting at a published monthly price

Location

Dublin

Data control6/10

Human review and audit trail5/10

Board packs and fund documents10/10

Works with your systems4/10

Runs without an engineer10/10

Published price10/10

Financial-services proof10/10

Total score55/70

Asora is software for the modern family office. It imports transactions, valuations and statements from custodians and banks, and ingests private fund statements automatically. Its AI connector audit-logs every query and never uses client data for training, and Asora is ISO 27001 certified. Tiers start at US$900 a month, plus a one-time implementation fee of 25% of the annual subscription.

Omnia Capital Partners cut files sent by email by more than 50%, and Tan Family Office cut manual data entry by 75%.

• Strongest on: financial-services proof at 10, level with V7 Go, Caruso and Salesforce Financial Services Cloud.
• Loses on: works with your systems at 4. It names no accounting ledger or office suite, and its pages describe replacing spreadsheets and siloed systems rather than working alongside them.

7. Caruso

Rank 7

Caruso

Best for

Australian fund managers that want fund administration and registry moved onto one platform, with the migration run for them

Location

Sydney

Data control7/10

Human review and audit trail10/10

Board packs and fund documents10/10

Works with your systems7/10

Runs without an engineer10/10

Published price0/10

Financial-services proof10/10

Total score54/70

Caruso provides fund administration and registry services for Australian fund managers. It hosts in AWS Sydney, so fund and investor data stays in Australia, and it holds ISO 27001:2022 certification. Its Fund Intelligence extracts data from investor documents, passes AI changes through staged human-in-the-loop approval gates and logs every AI query and action. It calculates and issues capital calls and runs implementation for the client. Its product notes say a manager on any email client, including Outlook and Gmail, can archive investor emails to the right records by copying in a Caruso address.

Alpha First, Marquette, Mackersy Property, BeGroup and Ironstate are named customers with case studies.

• Strongest on: financial-services proof at 10, level with V7 Go, Asora and Salesforce Financial Services Cloud.
• Loses on: published price at 0. No price appears on the pages read, its blog included.

8. Hourglass AI

Rank 8

Hourglass AI

Best for

Australian funds, VC firms and family offices of 10 to 100 people with no engineer on staff, whose knowledge sits across board papers, inboxes and meeting notes

Location

Sydney and Melbourne

Data control7/10

Human review and audit trail10/10

Board packs and fund documents10/10

Works with your systems6/10

Runs without an engineer10/10

Published price10/10

Financial-services proof0/10

Total score53/70

Hourglass AI builds and maintains AI for Australian companies, and VC funds and family offices under AFSL obligations run it today. Its Company AI Brain joins email, files, meeting notes, CRM and finance systems, including Xero, into one knowledge layer. The layer sits above those systems rather than replacing them. Co-founder Finlay Ekins wrote that explanation in answer to a private equity fund's head of AI. Every answer traces back to where it came from, board papers are scoped to who should see them, and anything sensitive waits in a review inbox for a person. Most clients find information 60 to 80% faster within 30 days.

On that foundation it builds agents for weekly KPI summaries, board snapshots, deal screening and market monitoring. Each agent typically replaces 5 to 15 hours of repeatable work a week. With email drafting and an AI coworker in Slack or Teams, teams typically recover 3 to 5 hours per person per week. A funds manager with 35 people and $808M under management made the brain its first build. A 16-person venture capital firm chose it as the single source every investment agent reads from. As of October 2026 it works with three VC funds, its sharpest niche. One VC partner client called having the brain available across every AI model "a game changer".

Everything it builds runs on the client's own servers and accounts. The September newsletter says builds run on the client's infrastructure and the data never leaves its systems, and Batko took your data, your servers and who gets to see what as a topic on AI Down Under. Its privacy policy says client data does not train third-party AI models. For finance work it holds a hard line on accuracy: 99% right is 0% useful. So it starts small and proves each output exactly right before anyone signs off. Startup Daily describes it as an AI implementation firm that builds working systems inside Australian businesses on a fixed fee. A build costs $5,000 to $25,000, is live in one to two weeks, and maintenance is about $1,000 a month.

• Strongest on: human review and audit trail, board packs and fund documents, runs without an engineer and published price, with full marks on all four, 40 of 40 points.

9. Team400

Rank 9

Team400

Best for

Larger financial institutions and fintechs that want custom AI for KYC, AML and compliance, built by an engineering team

Location

Sydney, Melbourne and Brisbane

Data control4/10

Human review and audit trail10/10

Board packs and fund documents7/10

Works with your systems6/10

Runs without an engineer10/10

Published price7/10

Financial-services proof2/10

Total score46/70

Team400 builds AI for banks, fintechs and financial institutions, including document processing and verification for KYC and AML, with complete decision audit trails. Its managed agents carry guardrails and approval workflows, and its managed agent service runs on AU-hosted cloud. Focused engagements start from $25,000, and custom projects typically run $50,000 to $250,000. Medibank is among the enterprise clients it names.

• Strongest on: human review and audit trail at 10, level with six others.
• Loses on: data control at 4. No no-training statement or security certification appears on the pages read.

10. Masttro

Rank 10

Masttro

Best for

Family offices with complex multi-entity, multi-jurisdiction wealth that want aggregation and document AI on one platform

Location

Teams in the United States, Europe, Latin America and Australia

Data control6/10

Human review and audit trail5/10

Board packs and fund documents10/10

Works with your systems4/10

Runs without an engineer10/10

Published price0/10

Financial-services proof9/10

Total score44/70

Masttro is family office software with AI document capture for alternative investments, capital calls and performance tracking, and white glove onboarding. Masttro Intelligence answers questions across a family's wealth with no training on client data, and every prompt is logged. It is ISO/IEC 27001:2022 certified.

Stonebridge, an Australian family office, cut its reporting from 8 to 10 hours a month to a matter of hours.

• Strongest on: board packs and fund documents at 10, level with seven others, and financial-services proof at 9, one point behind the leaders.
• Loses on: published price at 0. Its pricing page asks for a demo and prints no figure.

11. FI Digital

11

FI Digital

Best for

Mid-market and enterprise firms that want an engineering team to build AI agents and data platforms with Australian data residency

Location

Melbourne

Data control7/10

Human review and audit trail10/10

Board packs and fund documents7/10

Works with your systems6/10

Runs without an engineer10/10

Published price0/10

Financial-services proof0/10

Total score40/70

FI Digital builds governed AI systems. Its agents read documents and handle KYC and AML compliance, with Australian data residency on every engagement. It has integrated with more than 40 platforms, including Xero, MYOB and Salesforce, and provides contractual SLAs. Its copilots page routes financial approvals above set thresholds to a qualified person, logs every agent action in an audit trail, and uses no customer data for model training.

• Strongest on: human review and audit trail at 10, level with six others, and runs without an engineer at 10, level with every other entry.
• Loses on: published price at 0, and financial-services proof at 0. No page read prints a price or names a financial-services client.

How they compare

A fund's chief operating officer asks six questions on the first call. Each entry's answers come from its own pages, and the cost table shows what each one charges. Seven of the 11 publish at least one price. Nine state a human review or approval step before output is used.

11 options, side by side

Checked 1 October 2026

QuestionELab AIV7 GoSalesforce Financial Services CloudEvisentFundwaveAsoraCarusoHourglass AITeam400MasttroFDFI Digital

Builds, sets up or runs it for you?Its own site says it builds, implements, configures or onboards the system for the clientELab AI: Yes.V7 Go: Yes.Salesforce Financial Services Cloud: Yes.Evisent: Yes.Fundwave: Yes.Asora: Yes.Caruso: Yes.Hourglass AI: Yes.Team400: Yes.Masttro: Yes.FI Digital: Yes.

Builds, sets up or runs it for you? Each option's answer, from its own pages.

Option	Answer
ELab AI	Yes. Handles design and build.
V7 Go	Yes. Its platform fee includes a dedicated solutions team for deployment.
Salesforce Financial Services Cloud	Yes. Implementation and adoption guidance from its experts.
Evisent	Yes. Builds and operates automations.
Fundwave	Yes. Every plan includes a required onboarding service.
Asora	Yes. Onboarding covers setup, configuration and connections.
Caruso	Yes. Runs implementation and data migration for the client.
Hourglass AI	Yes. Builds the foundation for the client.
Team400	Yes. Builds AI agents and platforms.
Masttro	Yes. Offers white glove onboarding and service.
FDFI Digital	Yes. Builds governed AI systems.

Keeps client data in your environment or in Australia?Its own site says data stays in the client's servers, accounts or tenancy, or is hosted in AustraliaELab AI: Yes.V7 Go: Yes.Salesforce Financial Services Cloud: Yes.Evisent: Yes.Fundwave: Yes.Asora: Not stated.Caruso: Yes.Hourglass AI: Yes.Team400: Yes.Masttro: Not stated.FI Digital: Yes.

Keeps client data in your environment or in Australia? Each option's answer, from its own pages.

Option	Answer
ELab AI	Yes. Deploys inside the client's own environment, or its own cloud tenancy.
V7 Go	Yes. Offers private deployment (location not stated).
Salesforce Financial Services Cloud	Yes. Its platform supports Australian data residency for regulated financial services firms (R1).
Evisent	Yes. Runs AI inside the client's own Microsoft 365 and Azure.
Fundwave	Yes. Its privacy policy says it offers server products, where Fundwave does not host or store the client's content.
Asora	Not stated. Not stated on the pages read.
Caruso	Yes. Hosted in AWS Sydney, so fund and investor data is resident in Australia.
Hourglass AI	Yes. Everything it builds runs on the client's own servers and accounts.
Team400	Yes. Its managed agent service runs on AU-hosted managed cloud.
Masttro	Not stated. Not stated on the pages read.
FDFI Digital	Yes. Australian data residency on every engagement.

Keeps your data out of model training?Its own site says client data is not used to train AI modelsELab AI: Yes.V7 Go: Yes.Salesforce Financial Services Cloud: Yes.Evisent: Not stated.Fundwave: Yes.Asora: Yes.Caruso: Not stated.Hourglass AI: Yes.Team400: Not stated.Masttro: Yes.FI Digital: Yes.

Keeps your data out of model training? Each option's answer, from its own pages.

Option	Answer
ELab AI	Yes. Never uses client data to train public models.
V7 Go	Yes. Never trains models on client data.
Salesforce Financial Services Cloud	Yes. Prompts and responses are never stored or used to train the third-party models.
Evisent	Not stated. Not stated on the pages read.
Fundwave	Yes. Data it receives through Google APIs is not used to train generalised AI models.
Asora	Yes. Never uses prompts or data for model training.
Caruso	Not stated. Not stated on the pages read.
Hourglass AI	Yes. Does not use client data to train third-party AI models.
Team400	Not stated. Not stated on the pages read.
Masttro	Yes. No training on client data.
FDFI Digital	Yes. States that no customer data is used for model training.

A person approves output before it is acted on?Its own site states a review, approval or sign-off step before output is sent or acted onELab AI: Yes.V7 Go: Yes.Salesforce Financial Services Cloud: Yes.Evisent: Yes.Fundwave: Yes.Asora: Not stated.Caruso: Yes.Hourglass AI: Yes.Team400: Yes.Masttro: Not stated.FI Digital: Yes.

A person approves output before it is acted on? Each option's answer, from its own pages.

Option	Answer
ELab AI	Yes. The relationship owner reviews and approves AI drafts.
V7 Go	Yes. Its 10 East customer story says human review sits in every step.
Salesforce Financial Services Cloud	Yes. Approvals built into financial workflows.
Evisent	Yes. The adviser reviews and personalises AI drafts.
Fundwave	Yes. An inbuilt four-eyes check reviews every transaction, notice and report.
Asora	Not stated. Not stated on the pages read.
Caruso	Yes. Staged human-in-the-loop approval gates on AI changes.
Hourglass AI	Yes. Anything sensitive or structural waits in a review inbox for a person's approval before it is written.
Team400	Yes. Guardrails and approval workflows on managed agents.
Masttro	Not stated. Not stated on the pages read.
FDFI Digital	Yes. Financial approvals and compliance decisions above set thresholds always route to a qualified person.

Handles board papers, investor reports or capital call notices?Its own site names a fund or investment document it handlesELab AI: Yes.V7 Go: Yes.Salesforce Financial Services Cloud: Not stated.Evisent: Yes.Fundwave: Yes.Asora: Yes.Caruso: Yes.Hourglass AI: Yes.Team400: Not stated.Masttro: Yes.FI Digital: Not stated.

Handles board papers, investor reports or capital call notices? Each option's answer, from its own pages.

Option	Answer
ELab AI	Yes. Drafts capital call and distribution notices.
V7 Go	Yes. Runs from inbound CIM to investment committee memo.
Salesforce Financial Services Cloud	Not stated. Not stated on the pages read.
Evisent	Yes. Its advice builds use Claude to interpret product disclosure statements.
Fundwave	Yes. Generates capital notices, NAV statements and fund reports.
Asora	Yes. Ingests private fund statements automatically.
Caruso	Yes. Generates investor reports and statements.
Hourglass AI	Yes. Holds board papers, scoped by role.
Team400	Not stated. Not stated on the pages read.
Masttro	Yes. Tags capital calls and distributions from documents.
FDFI Digital	Not stated. Not stated on the pages read.

Names a fund, wealth or advice client with a result?A named financial-services client with a number on its own siteELab AI: Yes.V7 Go: Yes.Salesforce Financial Services Cloud: Yes.Evisent: Not stated.Fundwave: Not stated.Asora: Yes.Caruso: Not stated.Hourglass AI: Not stated.Team400: Not stated.Masttro: Yes.FI Digital: Not stated.

Names a fund, wealth or advice client with a result? Each option's answer, from its own pages.

Option	Answer
ELab AI	Yes. Stoneview Capital, a Hong Kong investment manager, cut contact-database noise by 55%.
V7 Go	Yes. 10 East cut preliminary deal reviews from two hours to 20 minutes.
Salesforce Financial Services Cloud	Yes. BCU handles escalated cases 27% faster with Agentforce.
Evisent	Not stated. Not stated on the pages read.
Fundwave	Not stated. Not stated on the pages read.
Asora	Yes. Omnia Capital Partners cut files sent by email by over 50%.
Caruso	Not stated. Not stated on the pages read.
Hourglass AI	Not stated. Not stated on the pages read.
Team400	Not stated. Not stated on the pages read.
Masttro	Yes. Stonebridge, an Australian family office, cut reporting from 8 to 10 hours a month to a matter of hours.
FDFI Digital	Not stated. Not stated on the pages read.

Yes answersOut of 6 questions6 yes for ELab AI6 yes for V7 Go5 yes for Salesforce Financial Services Cloud4 yes for Evisent5 yes for Fundwave4 yes for Asora4 yes for Caruso5 yes for Hourglass AI3 yes for Team4004 yes for Masttro4 yes for FI Digital

What AI automation costs a fund or family office

Published prices, AUD

What AI automation costs a fund or family office, by option: Entry or audit, Typical build or licence, Ongoing.

Option	Entry or audit	Typical build or licence	Ongoing
ELab AI	From NZ$5,000 + GSTEngagements, scoped to the work	Not published	Xero connector from US$99 a monthIts own Xero connector product, priced by number of Xero organisations, not engagement pricing
V7 Go	Not published	Not published	Not published
Salesforce Financial Services Cloud	Not published	From AU$455 a user a monthBilled annually, editions to AU$1,050	Per user, billed annuallySubscription
Evisent	$990 + GSTAI-ready audit, 5 business days	From $4,000 + GSTBuild & Operate, priced to complexity	From $200 a monthSupport, quoted on its finance broking page
Fundwave	From $1,400 a monthSeed plan, billed quarterly or annually, currency not stated	$4,000 onboardingOne-time, required on the Seed plan ($6,000 Growth, from $9,000 Enterprise)	From $2,250 a monthGrowth plan, with AI-enabled workflows
Asora	From US$900 a monthTiered by net worth under management, unlimited users	25% of the annual feeOne-time implementation fee	Add-ons from US$3,600 a yearExtra accounts or private cloud (US$4,000 a year)
Caruso	Not published	Not published	Not published
Hourglass AI	Flat feeAI Audit, credited to a build started within 30 days	$5,000 to $25,000Each build	About $1,000 a monthPer build
Team400	From $25,000Focused engagements	$50,000 to $250,000Custom AI projects	Not published
Masttro	Not published	Not published	Not published
FDFI Digital	Not published	Not published	Not published

Which option fits your firm

• Pick a do-it-yourself setup with Claude or ChatGPT if your firm has fewer than about 10 people. Below 10, most businesses DIY it, and a paid build rarely pays back at that size. Compare assistants first against the best AI agents on the market.
• Pick an implementer rather than a platform if you want a firm to run the build for you. See the best AI automation agencies in Australia or AI consultants in Australia who build what they recommend.

What to check before you hire or buy one

Before you hire or buy, check five things. Does it work with the systems the fund already runs? Where does investor data go? Does a person check the output before it goes out? Which fund workflows does it run? What does it cost against another hire?

This page scores a fund's back office, not a bank's trading floor. Fraud detection, credit scoring and trading models were not scored, and nor were small-business bookkeeping tools or enterprise consulting firms. A manufacturer is scored on different tests in AI automation for Australian manufacturers.

The part that surprises a first-time fund manager is the reporting treadmill. The job looks like finding deals and helping founders, and a meaningful share of it goes on compliance reports instead. NAV statements are where managers get caught most often, because superfund LPs can contractually require them within a couple of business days of quarter-end. If the valuations are not current and the accounting is not clean, the scramble repeats every three months.

Start at the right layer, too. Most firms start with agents, and the agents break because nothing sits underneath them. In a fund, the memory an agent needs sits in the board packs, the LP records and the inbox, and that is where the build should start.

Does it work with the systems the fund already runs?

Systems fit is whether the automation reads from and writes to the systems a firm already uses, without double entry. That means fund administration, portfolio, deal and accounting systems. V7 Go, Evisent and Fundwave score full marks: V7 Go integrates with the Affinity deal CRM, Evisent configures Xplan, IRESS and Midwinter, and Fundwave is itself a fund management system. Caruso, Asora and Masttro are fund or family office platforms themselves, and their pages do not say they work alongside the systems a firm keeps. ELab AI, Hourglass AI, Team400 and FI Digital name accounting and office software but no fund, wealth or deal system on the pages read.

Startmate, a seed fund, rebuilt its investor experience on three specialist tools in a row: one for investor onboarding, one for anti-money-laundering checks and one for fund reporting and tax. So the question is not which system the AI replaces. It is whether it can pull from all of them. Ask each vendor to show it reading from the tools the fund already runs, on the first call.

Where does investor data go, and who can see it?

Investor and client records are personal information under the Privacy Act 1988. So ask where the data is stored, whether it trains anyone's model, and whether a security page sets out the controls. ELab AI, V7 Go, Salesforce Financial Services Cloud and Fundwave score full marks on data control. Caruso hosts in AWS Sydney, Evisent runs inside the client's own Microsoft 365 and Azure, and Hourglass AI builds on the client's own servers and accounts. Asora offers a dedicated server as an add-on and Masttro hosts on a private instance in Switzerland, both run by the vendor rather than in the client's own environment.

Security decides the deal. At Hourglass AI, which publishes this list, security came up in 19 separate sales calls in one month. It came up again in almost every sales call the next month, VC funds included. Without a clear answer on where the data sits, the deal stalls. A fund answers to its investors as well: superfund sign-off alone means a due diligence questionnaire of a couple of hundred pages. Get each vendor's answer in writing before the first build.

Does a person check the output before it goes out?

Human review is a stated step where a person approves an AI draft before it is sent or acted on. An audit trail is a record of what the AI did, or of which source each answer came from. Seven entries score full marks on both: ELab AI, V7 Go, Evisent, Hourglass AI, Caruso, Team400 and FI Digital. Asora's write-back with approval is labelled a coming-next capability on its own page.

Firms want a person in the loop before anything is sent or published, and in finance the bar is exactness, since 99% right is 0% useful. Build that step for how the firm actually works, not how it imagines it will. A fund's investment committee shows why: if five people need to be in a room to approve a cheque and one is overseas when a deal moves, the deal is missed. Ask who signs off each output, and where the record of that sign-off lives.

Which fund workflows does it actually run?

Four workflows separate fund automation from general office AI: investor reporting, capital calls and distribution notices, due diligence and deal screening, and investor onboarding. Eight entries score full marks on board packs and fund documents. ELab AI drafts capital call notices and quarterly investor reports. V7 Go runs a deal from CIM to investment committee memo. Fundwave and Caruso issue capital calls from the fund's own records.

Managing capital calls across 10 LPs is fine. Across 50 or more, many offshore and some slow, it becomes real operational work, and the deal timeline does not wait for it. Then there's the calendar: tax file number and NAV reporting every quarter. Every year adds the foreign tax reporting (FATCA and CRS), the trust tax return, an AMMA tax statement for every LP and the audit. Ask each vendor which of those it runs today.

What does it cost against another hire?

Published price is whether an entry prints what it charges before the first call. Six entries score full marks on published price: ELab AI, Salesforce Financial Services Cloud, Evisent, Fundwave, Asora and Hourglass AI. V7 Go, Caruso, Masttro and FI Digital publish no price on the pages read. Platforms bill monthly from US$900 for Asora and $1,400 for Fundwave, while implementers price per build, from $4,000 plus GST at Evisent.

A $20m fund on a 2% fee brings in $400,000 a year, which barely pays for a lean team. And the reporting load is largely a fixed cost, nearly the same at $10m as at $100m. So price a build or a platform against the operations hire the fund would otherwise make, not against doing nothing. The maths is set out in where AI automation pays back for an Australian business.

How this list is ranked

Board packs and fund documents scores 4 for reading or extracting information from documents. It scores 3 for naming a fund or investment document it handles, such as a board pack, information memorandum, investor report, capital call notice, NAV statement or investment committee paper. A further 3 goes to naming a fund workflow it runs, such as deal screening, investor reporting, fund reconciliation, capital calls or investor onboarding. Works with your systems scores 4 for naming a fund administration, portfolio, wealth, cap table or deal CRM system it connects to, or for being one. It scores 3 for naming an accounting ledger or office suite, and 3 for stating that it works alongside existing systems rather than replacing them. A general CRM such as HubSpot does not count as a deal system.

Runs without an engineer scores 4 for building, implementing or onboarding the system for the client. Supporting or maintaining it after launch scores 3, and so does naming funds, VC firms, family offices, wealth or advice firms as who it serves. Published price scores 4 for an entry price, plan, trial or audit fee, 3 for a build price, licence price or second plan, and 3 for an ongoing or monthly price. Financial-services proof scores 3 per named financial-services client with a number tied to the entry's work, up to 6. A named client without a number, or an anonymised client with one, scores 2, up to 10 in all. A client's size or funds under management is not a result.

Hourglass AI, which publishes this list, scores 53 and ranks eighth, one point behind Caruso. Without the four tests where Hourglass AI has full marks, human review and audit trail, board packs and fund documents, running without an engineer and published price, V7 Go would be first on 30, ahead of Salesforce Financial Services Cloud on 27.

Hourglass AI loses flatly on three tests. Data control is 7 against 10 for ELab AI, V7 Go, Salesforce Financial Services Cloud and Fundwave, because Hourglass AI publishes no security page or certification. Works with your systems is 6 against 10 for V7 Go, Evisent and Fundwave, because no page on thehourglass.ai, and no newsletter or podcast, names a fund, wealth or deal system. Financial-services proof is 0 against 10 for V7 Go, Salesforce Financial Services Cloud, Asora and Caruso. The fund clients Hourglass AI describes, three VC funds among them, are anonymised and carry no published result. This page counts no client size as a result.

Related reading

• OAIC guidance on privacy and the use of commercially available AI products
• APP 8: sending personal information overseas
• Australia's AI Ethics Principles
• Do you need an AFS licence?

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