It was never an access problem.

For thirty years I have worked in private markets, on all sides of the table. I built a fund administration business that produced the numbers for managers. Today I rely on those same numbers to decide where to put capital.

The longer I watched, the more I saw the same scene, quarter after quarter. Financial reporting is one piece of a much larger picture, and a timing gap sits baked into the process by default. Each stakeholder rechecks their own version before sharing it, usually as a PDF.

The problem was never visibility. It was trust.

Every private markets firm I've come across runs some version of this. Each handoff creates a small opening for discrepancy, so someone reconciles it by hand before anyone acts on it. GPs do it. Administrators do it. LPs do it. Trust gets rebuilt at every handoff, by people, despite the systems, integrations and dashboards layered on top.

None of those systems eliminates the checking. They just moved it around. The industry built infrastructure to generate and display the number, but almost nothing to verify it. The problem was never visibility. It was trust.

That's the layer I set out to build with Lantern.

Lantern integrates with your existing systems as they are. It consolidates fund, asset and investor data, reconciles it across sources, and runs two million data tests a day to catch discrepancies before they reach a report. When numbers don't match, you see exactly why, and you decide, with every figure traceable back to its source. Your administrator and your tech stack stay as they are. Lantern handles the final check.

Trust is the last thing in private markets data still crafted manually.

Because investors mostly meet these numbers as PDFs, we verify at that layer too. Our document extraction, powered by Freyda and now part of Lantern, closes the loop: trust follows the number from data entry to the figure an investor finally sees.

Trust is the last thing in private markets data still crafted manually. Lantern exists to change that.

And that's just the start of my ambition for Lantern.
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Edward Moore

Founder and CEO, Lantern