Canoe Intelligence (Canoe) a new AI-driven solution aimed at eliminating manual data entry for alternative asset investors. Canoe’s technology allows institutions, LPs, and family offices to automate data extraction and data management and refocus capital and human resources on business performance and growth.
“Canoe is leading the charge against manual data entry,” says Seth Brotman (pictured), Canoe CEO. “Investors demand solutions to reduce the burdens of manual data extraction and management. “Canoe is that solution. By leveraging artificial intelligence, we empower allocators of all sizes to make better use of their teams’ capital resources and time. Canoe helps allocators make faster, more informed decisions and grow their businesses more efficiently.”
Canoe says that today’s sophisticated allocators manage complex portfolios including scores of alternative investments such as hedge funds, private equity and venture capital. As a result, allocators are inundated with up to 50,000 documents annually, containing 200,000 or more critical transaction, valuation and performance data points. Firms have historically relied on teams of individuals or offshore groups to manually manage data extraction and document storage, leading to industry-wide frustrations due to errors, latency, spiralling costs, and lack of control.
Canoe aims to solve those problems by using a scalable and proprietary AI engine. Canoe says its technology recognises, validates and extracts unstructured investment data across asset classes, ownership structures, and document types. The data is organised digitally for easy and immediate access, and can be seamlessly fed into any portfolio reporting, accounting, and analytics platforms. Most importantly, Canoe frees up valuable human capital previously burdened by manual data processes, allowing firms to redirect talent to business and investment tasks.