The reconciliation and audit-trail layer beneath your fund's numbers
Keel reconciles data across fund administrators, portfolio companies, and internal systems, then gives your operations team a structured, provable record — the kind that holds up when an LP, a regulator, or your own audit asks how a number was calculated.
About Us
How was this number calculated shouldn't live in someone's memory of a spreadsheet
Keel reconciles data across fund administrators, portfolio companies, and internal systems, and gives operations teams a structured record they can defend under scrutiny.
9
Funds reconciling through Keel
$500M – $5B
AUM range served
Private equity
Fund types
YC W23R
Company
How Keel reconciles your numbers
A structured, sourced record for every number that moves through your fund
Keel supports private equity and private credit funds between $500M and $5B in AUM, the range where a reconciliation error doesn't just cost time. It costs credibility with an LP or a regulator.
If a number gets questioned,
you actually have an answer
Manual reconciliation across fund admins, portfolio companies, and internal systems means the real answer to “how was this calculated” often lives in someone's memory of a spreadsheet from two quarters ago.
A traceable record behind every reconciled figure
Built for scrutiny, not just internal use
The same trail whether the question comes from an LP or a regulator
Reconciliation first. Reporting is what comes out the other
Most tools in this category start as a reporting dashboard and add reconciliation as a feature. Keel was built the other way — the reconciliation and audit-trail layer came first, and reporting is a secondary output of that layer, not the product itself. Ops teams tend to notice the difference within the first few minutes.
Reconciliation and audit trail as the foundation, not an add-on
Reporting output shaped by what's already been verified
Built in the right order
How it works
Fund administrator feeds, portfolio company data, and internal systems all connect the same way. If a fund works with more than one fund administrator, all of them connect and reconcile together, not as separate parallel processes.
Reconcile
Keel identifies discrepancies across sources, timing differences, formatting differences, genuine data errors, and resolves them against a defined methodology rather than a case-by-case judgment call.
Verify
Every reconciled figure carries a sourced, traceable record of how it was calculated and where the underlying data came from.
Report
The reporting layer draws only from numbers that have already been verified, so what goes into an LP report or filing has already passed through the audit trail.
How Keel reconciles your numbers
A structured, sourced record for every number that moves through your fund
This is what happens between a fund administrator's data and the number that lands in your LP report — and what makes that number defensible.
Who trusts Keel with their numbers
Nine funds. Every reconciled number defensible
Keel supports private equity and private credit funds between $500M and $5B in AUM, the range where a reconciliation error doesn't just cost time. It costs credibility with an LP or a regulator.
Before you get on a call
Read how the reconciliation works,
and how we secure it
Most vendor conversations start with a demo. We'd rather you arrive at that conversation already convinced — with the methodology and security posture already reviewed.