NocleodeNocleode

Intelligent infrastructure
for private markets.

Nocleode is the operating layer that connects capital, data, and decisions across the alternatives lifecycle — giving funds and allocators a single, verifiable source of truth.

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Trusted by funds, allocators & service providers

Brookline Capital
Aldermere Partners
Northwind Equity
Halcyon Holdings
Meridian Asset
Stonebrook Ventures
Cavendish Group
Lyra Investments
Brookline Capital
Aldermere Partners
Northwind Equity
Halcyon Holdings
Meridian Asset
Stonebrook Ventures
Cavendish Group
Lyra Investments

Our thesis

Private markets deserve public-market clarity.

Over the last decade, alternatives crossed thirteen trillion dollars in assets — yet the operating stack underneath remained an artefact of the 1990s. Quarterly PDFs. Spreadsheets emailed between counterparties. Reconciliations measured in days.

Nocleode is a deliberate rebuild of that stack. We treat funds, deals, LPs, and documents as first-class objects in a unified graph — and we pipe institutional-grade data into the systems your team already uses.

$0.0B
In committed pipeline
0
Design partners
0+
Data integrations
0.0
Team members

What Nocleode delivers

Infrastructure built for private markets.

Unified Data Layer

Connect all your fund data sources into a single, reconciled view. No more spreadsheets, no more quarterly delays — just clean, queryable data across your entire portfolio.

AI-Powered Document Intelligence

Extract terms, clauses, and figures from CIMs, side-letters, and LPAs with clause-level provenance. Every data point traced back to its source document.

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Relationship Graph

Map the complete web of relationships between GPs, LPs, funds, and portfolio companies. Understand exposures and conflicts across your entire allocation.

Why teams choose Nocleode

Built different, by design.

Bank-Grade Security

SOC 2 Type II certified. All data encrypted at rest and in transit. Role-based access controls and complete audit trails for every action.

LIVE+24.5%

Real-Time Analytics

Stream NAV, DPI, and exposure data as it changes. Build dashboards and alerts that keep your team ahead of the curve.

Lightning Fast

Reconciliations that used to take days now complete in minutes. Our infrastructure is built for institutional scale from day one.

The pulse of your book

Signals, streamed in real time.

Nocleode replaces the quarterly snapshot with a continuous feed. NAV, DPI, exposures, and operational metrics update the moment they're computed — visible in the platform, queryable from your warehouse, and pushed to the systems that need them.

Aggregate NAV

$14.88B
streaming · last sync just now

Active deals

312
streaming · last sync just now

DPI · vintage 21

1.42x
streaming · last sync just now

Median time-to-close

37.85d
streaming · last sync just now

Documents reconciled

92.43%
streaming · last sync just now

Capital deployed YTD

$6.32B
streaming · last sync just now

Portfolio OS

See your book the way it actually behaves.

Look-through exposures, J-curve modelling, vintage benchmarks, and live cash-flow forecasts — all reconciled to source documents, all queryable, all yours.

  • Look-through into every fund, SPV, and co-investment
  • Side-letter and waterfall logic, codified and version-controlled
  • AI-assisted document extraction with clause-level provenance
  • Audit trail on every figure, end to end
  • Native ILPA reporting and bespoke LP packs

Portfolio intelligence

Live exposure across funds

Streaming
NAV
$842.6M
IRR
18.4%
DPI
1.62×

What makes Nocleode different

Three principles, engineered in.

Foundation

Composable, not monolithic

Adopt a single primitive — entity graph, document engine, or reporting fabric — and grow into the rest. No three-year replatforming projects.

Intelligence

Models that understand structure

Trained on the language of LPAs, side letters, capital accounts, and waterfalls — every output linked back to its source clause.

Trust

Governance as a default

Row-level permissions, signed audit logs, and tenant-scoped encryption. Built for auditors, regulators, and your most demanding LP.

Capabilities

One platform. Six primitives.

Each primitive is independently useful and exponentially better together. Adopt the pieces you need; the rest are ready when you are.

Unified data fabric

Standardise fund, deal, and LP data across legacy systems, spreadsheets, and counterparties — without rip-and-replace.

Counterparty graph

Map every relationship across GPs, LPs, advisors, and portfolio companies into a single, queryable graph.

Real-time portfolio analytics

Stream NAV, exposures, and attribution to your stack the moment they're computed — not at quarter end.

Workflow automation

Codify capital calls, distributions, and side-letter logic. Audit-ready by default, faster by design.

Institutional security

SOC 2 Type II certification in progress, ISO 27001-aligned controls, regional data residency, and granular permissioning.

Embedded intelligence

Models trained on private market structures — surfacing covenants, anomalies, and benchmarks in context.

The full lifecycle

Origination to exit, on a single graph.

Nocleode is not a point tool bolted to a quarter-end report. It is the connective tissue that runs from first conversation with a sponsor to the final distribution.

01
Origination

Sourcing & pipeline

Capture deals from email, CRM, and intermediary feeds. Dedupe entities, enrich with firmographics, and route to the right team — automatically.

Artifacts
  • Pipeline graph
    live
  • Sponsor profile
    live
  • First-pass screening
    live
02
Diligence

Underwriting & IC

Run repeatable underwriting models. Extract terms from CIMs, side-letters, and SPAs with provenance. Generate IC memos in hours, not weeks.

Artifacts
  • Auto-extracted terms
    live
  • Sensitivity model
    live
  • IC memo draft
    live
03
Close

Capital & legal

Codify waterfall and side-letter logic at signing. Issue capital calls, track wires, and reconcile against custodian records in real time.

Artifacts
  • Waterfall engine
    live
  • Capital call ledger
    live
  • Wire reconciliation
    live
04
Manage

Portfolio & reporting

Stream KPIs and covenants from portfolio companies. Produce LP statements, ILPA templates, and ad-hoc cuts from the same governed dataset.

Artifacts
  • KPI streams
    live
  • ILPA pack
    live
  • Look-through exposures
    live
05
Exit

Realisation & vintage

Model exits, distributions, and recycling. Lock vintage benchmarks. Roll learnings into the next fund without losing institutional memory.

Artifacts
  • Distribution waterfall
    live
  • Vintage benchmark
    live
  • Post-mortem ledger
    live

The shift

From legacy stack to operating layer.

What changes when the operating layer is real, not improvised? Most of the work simply disappears.

Dimension
Legacy stack
Nocleode
Time to first insight
6-9 months
4 weeks
Data refresh cadence
Quarterly batch
Real-time stream
Side-letter compliance
Manual review
Codified, enforced
LP reporting cycle
30+ days
Continuous
Audit prep
Spreadsheet hunt
One-click pack
Total cost of ownership
Opaque
Transparent, predictable

Connect to everything

Plays well with the systems you already trust.

Out-of-the-box adapters for the fund administrators, custodians, data rooms, warehouses, and BI tools that run institutional finance. Bring your own — or build a custom one in hours with our SDK.

Custodians

State Street, BNY, Northern Trust

Fund admins

Citco, SS&C, Apex, Alter Domus

Data rooms

Datasite, Intralinks, Box

GP portals

iLEVEL, Allvue, eFront

Warehouses

Snowflake, Databricks, BigQuery

BI & reporting

Power BI, Tableau, Sigma

Ledgers

NetSuite, Workday, Sage Intacct

Comms

Email, DocuSign, Microsoft 365

How it works

From raw inputs to investment-grade data.

01

Connect

Ingest from custodians, fund admins, GPs, and your data room. Schema mapping handled by Nocleode.

02

Reconcile

Our engine cross-checks documents, statements, and ledgers — flagging breaks before they reach the IC.

03

Activate

Push clean, governed data into reporting, BI, and downstream apps via API, warehouse sync, or webhooks.

From design partners

What operators are saying.

“Nocleode helped us reduce our quarter-end cycle significantly. The reporting team has its evenings back, and our LPs see the same numbers we do.”
Head of Finance
Design partner, European mid-market GP
“We're replacing legacy systems and spreadsheets with one unified graph. Look-through exposure across the portfolio finally tells the truth.”
CIO
Design partner, Family office
“What I value most is the provenance. Every figure links back to the clause it came from. That's changing how we underwrite.”
Investment Partner
Design partner, Growth fund

Frequently asked

Questions, answered plainly.

Who is Nocleode built for?+

GPs, LPs, family offices, fund administrators, and credit managers operating in private equity, venture, infrastructure, real estate, and private credit. Anywhere the asset is illiquid and the data is fragmented.

Do we need to replace our existing systems?+

No. Nocleode is composable. Most clients begin with a single primitive — typically the document engine or the entity graph — and expand at their own pace, alongside iLEVEL, eFront, Allvue, or in-house systems.

How is data secured?+

Tenant-scoped encryption keys, regional data residency in the UK and EU, SOC 2 Type II certification in progress, ISO 27001-aligned controls, signed and immutable audit logs, and SSO/SCIM with granular permissioning.

What does onboarding look like?+

A focused four-week implementation: connect sources in week one, validate reconciliations in week two, configure waterfall and reporting logic in week three, and run in production by week four with a dedicated solutions architect.

Build on the new nucleus of private markets.

We work with a small group of design partners as we scale. If your team is rebuilding the operating layer of your fund or platform, we'd like to talk.

Get in touchMeet the team