The notoriously document-heavy world of private equity is getting a significant AI upgrade. Trove AI, formerly known as Mako, has announced a $7.1 million seed funding round led by Menlo Ventures, with continued support from Khosla Ventures. The company is building what it calls an "AI associate" purpose-built to tackle the most time-consuming, data-intensive workstreams for private equity firms.
For anyone who’s navigated the labyrinthine process of private equity deals, the problem is clear: mountains of scattered documents, unstructured data, and a relentless clock ticking down to bulletproof analysis. Insights are often buried deep within messy content, requiring brutally manual extraction. Trove AI aims to automate this, claiming its agents can search firm knowledge, analyze thousands of files, and produce polished output for tasks that typically consume analysts' weeks.
This isn't just another Q&A chatbot over uploaded PDFs. Trove AI is engineered to execute complex private equity workstreams independently, from analyzing entire data rooms to pulling buried metrics from past deals and generating portfolio reports in a firm's specific style. The "special sauce," according to Trove, is a specialized agent that can reason through nuanced tasks, string together dozens of actions, and adapt on the fly.
The company’s founders bring a potent combination of domain expertise and technical firepower. CEO Danny Goldman led dozens of deals in Bain’s private equity group, giving him firsthand insight into the tasks that consume 80% of an analyst's week. CTO Shivaal Roy, a founding engineer at Glean and an early ML engineer at Scale AI, brings deep experience in marrying AI with messy enterprise data – a problem particularly acute in financial services.
The 'Cloud-Prem' Security Edge for Private equity AI
One of Trove AI's key differentiators, especially crucial in the security-conscious financial sector, is its "cloud-prem" deployment model. This allows the application to reside entirely within a customer’s private cloud, addressing the stringent security and data privacy requirements.
Trove AI claims early validation, with users at major PE firms calling it an "indispensable teammate." The company reports that investors are turning to the tool over a dozen times a week on average, a usage level rarely seen in this sector, and a number that has grown 86% in the last three months. This suggests a real appetite for specialized private equity AI solutions that can deliver tangible efficiency gains and sharper insights. The future of finance, Trove argues, isn't about replacing people, but about pairing smart professionals with equally smart AI partners.
