TomNext lands backing to automate limited partners' diligence and reporting with AI
This article covers TomNext, a fintech startup that has emerged from stealth with backing led by Panghea Capital Partners and launched a closed beta of its AI-driven platform for limited partners in private markets. The platform aims to centralise unstructured deal data and automate diligence and reporting to support limited partners such as family offices, wealth managers and other allocators across private equity, private credit, venture and real assets.
TomNext, a fintech startup, has emerged from stealth with fresh backing led by Panghea Capital Partners and a closed beta of its AI-driven platform for limited partners in private markets. The company says its software aims to replace fragmented, manual diligence and reporting workflows used by allocators across private equity, private credit, venture and real assets — a problem that matters as deal flow and complexity rise across a roughly $22 trillion alternative assets market.
Why it matters
Limited partners, including family offices and wealth managers, are seeing more opportunities but face bottlenecks caused by unstructured data, inconsistent reporting and analogue execution processes. Those frictions slow decision-making and capital deployment across private markets. TomNext is pitching an institutional-grade intelligence layer that centralises information and automates parts of diligence, which would be useful for smaller allocators that lack large operational teams.
The company’s timing follows a broader push in Europe and the UK for better private-market infrastructure and greater transparency, and it taps into growing interest in applying AI and tokenisation to back-office and execution workflows.
Inside the product
TomNext has launched a closed beta with family offices, wealth advisers and private-market investors to test its core features. The platform uses adaptive AI agents to convert unstructured deal collateral into structured, searchable intelligence, and to streamline diligence tasks across asset classes. TomNext says the product provides visibility across portfolios and aims to reduce manual work in document processing and reporting.
Planned additions include a digital execution and orchestration layer underpinned by tokenisation, scheduled for rollout early next year. The company positions that future layer as a way to automate transaction flows and reduce the operational risk around commit, settlement and secondary activity, though the current beta focuses on data and workflow intelligence rather than execution.
Who are the investors?
The round is led by Panghea Capital Partners and includes participation from Consello, Blizzard the Avalanche Fund, Altea Partners and a group of strategic backers and angel investors from wealth management, fintech and digital assets. Those participants reflect interest from both traditional allocator networks and crypto-native funds in infrastructure that bridges analogue LP workflows and emerging digital execution models.
In the announcement, Fernando Lopez Munoz, CEO, Panghea Capital Partners, said:
We backed TomNext because the industry is long overdue for an LP-first platform. Wealth managers and family offices are drowning in documents, data gaps and operational risk. TomNext’s vision in both its AI approach and its tokenized transaction-layer vision has the potential to become critical infrastructure for alternative-asset allocators globally.
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Founder perspective
TomNext is positioning itself as an LP-focused alternative to general-purpose data tools. The company frames its value proposition around saving time, reducing operational risk and giving smaller teams access to the kind of structured intelligence typically available only to large institutional allocators.
In the announcement, Itay Tuchman, CEO & Co-Founder at TomNext, said:
Private market investing has scaled massively, but the workflows most LPs rely on have not. They’re manual, fragmented and opaque and they slow down decision-making at the exact moment investors need clarity and speed. TomNext is built to change that. This funding allows us to bring institutional-grade intelligence to every LP, not just those with large teams, and our beta is the first step in proving how we can help bring emerging technology to speed up and improve the quality of decision making.
The bigger picture
TomNext’s product and fundraising sit at the intersection of several trends: greater institutional interest in private markets, the application of AI to unstructured financial data, and experimentation with tokenisation to automate settlement and secondary activity. For the UK and Europe, firms building operational infrastructure for private markets address a recurring complaint from allocators about scaling diligence and reporting without proportionate headcount increases.
If TomNext can prove its beta with family offices and wealth managers, it may capture demand from allocators seeking to modernise workflows and reduce reliance on manual processes. The outcome will also depend on how regulators and market participants treat tokenised private-market execution and the interoperability of new platforms with existing fund and custodian systems.
This development highlights ongoing momentum among UK fintech ventures building backend infrastructure for private markets, an area likely to see further investment and experimentation across Europe in the coming year.
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