Introducing F2: The AI Platform for Private Markets Investors
Introducing F2: The AI Platform for Private Markets Investors
I’ve lived the inefficiencies of the private markets firsthand.
As a private equity investor, I spent nights buried in data rooms and spreadsheets, doing low-leverage work that burned out junior teams while adding little to investment judgment. Later, when I raised and deployed $150M in private credit as CEO of Arc, I saw the other side: rules-based underwriting that boxed us in and left capital underutilized.
Private markets are sitting on trillions in dry powder, but they’re bottlenecked by outdated workflows and obsolete technology. The industry recruits the brightest minds in the world, only to have them burning out on low-leverage work: parsing data rooms, spreading financials, marking up memos that go nowhere.
The technology that deal teams rely on hasn’t evolved in decades. And general-purpose AI — which hallucinates and lacks context — isn’t the answer. Finance requires vertical AI: systems trained on the nuance, math, and rigor of private markets. That’s what we built with F2.
Today, we’re proud to announce the launch of F2, the AI platform for private markets investors.
The AI Incubation
I founded my first company, Arc, during my second year at Stanford’s Graduate School of Business with my classmate Nick Lombardo. We raised $181M of private credit and venture capital to disrupt startup banking in Silicon Valley. Before GenAI, our lending business was painfully reliant on the same excel-based financial modeling I learned during my PE days, with some basic fintech automation applied.
When ChatGPT first dropped in 2022, it became obvious to me that Arc’s debt business could be unlocked by this emerging technology. By applying LLMs to streamline underwriting, we had hyperscale potential. I called up Arc’s CTO, Emre Kazdagli, and we committed to a new path: an asset-light marketplace powered by AI. That bet paid off.
Agentic AI transformed our debt placement business — taking us from $1M transactions to billion-dollar facilities with pre-IPO companies. Today, Arc processes tens of billions in loan application volume and continues to accelerate.
But the ~300 lenders on Arc Capital Markets wanted more. They didn’t just want the private credit deals; they wanted the AI powering them. That was the genesis of F2.
We bundled Arc’s AI underwriting technology as a standalone SaaS product and began offering it to lenders across our debt marketplace. In the first half of 2025 alone, adoption ballooned 10X. Institutional private credit funds made one thing clear: this technology couldn’t remain just a feature of Arc. It had to stand on its own.
Introducing F2
The name F2 is a nod to the “F2” keystroke — the shortcut for editing cells in Excel. I spent years buried in spreadsheets as a PE associate and later TA’ing financial modeling at Stanford, so I know the importance of auditability and precision in financial analysis. We've built our platform with this premise in mind, ensuring that we establish trust on day one with our private markets customers.
F2 turns messy, unstructured deal materials into structured, audit-ready insights in minutes. Purpose-built for private markets, it’s the only platform delivering full-fidelity financial analysis across Excel, PDFs, CIMs, and data rooms with the precision, speed, and context deal teams demand.
Think of it as the Bloomberg Terminal for private markets — but AI-native from day one.
Already, hundreds of active users across dozens of the world’s leading private credit funds, commercial banks, and PE firms are using F2 to compress diligence cycles, underwrite faster, and deploy more capital with more precision — without adding headcount. And we’re just getting started.
Why We Raised $10M
To accelerate this vision, F2 has spun out of Arc with an oversubscribed $10M round, backed by nearly 50 of Arc’s long-time investors — including NFX, Left Lane Capital, and Y Combinator. Together with Arc, that brings combined capital raised to nearly $200M. I’m incredibly grateful and humbled to have the backing of so many of my longstanding Arc investors — they’ve bet on me and the team time and again with unwavering support. And I’m personally standing beside them, becoming our largest angel investor alongside these backers.
What’s Next
We've learned so much on the journey from building Arc to now launching F2, and we're just getting started. I am deeply grateful to our incredible team, investors, and partners who together are helping us spearhead our mission.
Everything in private markets is about to change. The old playbook that’s guided the industry for the last 30 years will be obsolete within the next 36 months. The earliest adopters of AI will outperform their peers, retain the highest caliber talent, and attract LP dollars. The laggards who don’t adopt will fall away, and before long, AI-powered investing will be the norm. Once all private capital runs on AI rails, markets will become more efficient and capital will move more freely, powering the next wave of economic growth.
That’s the future we’re building at F2.