OnCorps AI, a leading agentic AI platform for fund operations, has secured $55 million in growth capital from Long Ridge Equity Partners, a growth equity firm specializing in financial and business technology. The investment will fuel product innovation, expand go-to-market teams, and scale infrastructure to support OnCorps’ growing customer base.
Founded in 2011, OnCorps AI provides intelligent exception resolution for fund operations, primarily serving asset managers and fund administrators. The platform not only detects discrepancies in trade reconciliations and fund documentation but autonomously investigates root causes, recommends resolutions, and learns from patterns to prevent future issues.
“We’ve been running complex AI solutions in production for the world’s largest asset managers for several years, giving us a meaningful advantage in delivering tangible returns from AI,” said Bob Suh, Founder of OnCorps AI. “Every day, our systems close exceptions, reconcile trades, and oversee trillions in assets with high accuracy and low error rates. With Long Ridge’s investment, we can expand these capabilities across the broader industry.”
Domain-Specific AI for Real-World Fund Operations
OnCorps’ specialized AI agents are trained on millions of real-world discrepancies across trade processing, fund accounting, and reporting workflows. This domain-specific training, combined with continuous learning from production environments, allows OnCorps to achieve accuracy and exception resolution speeds that general-purpose automation tools cannot match.
The need for efficiency is acute: asset management margins have been pressured by rising transaction volumes, regulatory requirements, and fee compression. Leading institutions, including PIMCO and GMO—representing $13 trillion in assets under management—are adopting OnCorps AI to reduce manual effort and streamline fund operations.
Strategic Investment and Expansion
As part of the funding, Long Ridge Managing Partners Jim Brown and Kevin Bhatt will join the OnCorps AI Board of Directors. “OnCorps AI has built the market-leading AI platform for fund operations,” said Brown. “Their production-ready agents deliver immediate operational value. We are excited to partner with Bob and the OnCorps team as they scale the business.”
The capital will also support OnCorps’ expansion into adjacent capital markets workflows, including cash management, regulatory reporting, and complex trade processing.
Key OnCorps AI Capabilities:
- AI-First Reconciliations: Automates data matching, review, and investigation to reduce cycle time and manual effort
- AI-First Reporting Reviews: Streamlines the review of quarterly, semi-annual, and annual reports for improved accuracy and efficiency
TD Securities served as OnCorps’ lead financial advisor, Altman Solon as consulting partner, Goodwin Procter as legal counsel to Long Ridge, and Sidley Austin LLP as legal counsel to OnCorps.
With this funding, OnCorps AI is poised to scale its agentic AI platform, delivering measurable operational efficiency across fund operations and capital markets workflows, while helping asset managers keep pace with rising complexity and regulatory demands.
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