Private markets are wild, they move trillions with tools that look like they were built when AOL CDs were still a thing. Billions raised, yet half the process still runs on Excel and caffeine. Vessel Funds Inc. saw the mess and built something smarter. Founded in Jul 2022 by Thomas Terrats and Thierry Ajaltouni, the Montreal fintech is giving private market pros a system that finally feels like it belongs in 2025, not 2005. Terrats, CEO & Co-Founder, earned his stripes at Inovia Capital, helping raise $1.1B across 3 funds in just 16 months after 7 yrs at Teralys Capital driving 50+ investment decisions. Ajaltouni, Co-Founder, came from Oliver Wyman’s strategy world and Teralys Capital’s investment trenches. They both lived the chaos of fundraising by inbox, so they built a fix.
Fast forward to Oct 2025. Vessel Funds Inc. just locked in a $1.5M debt facility from CIBC Innovation Banking. Growth capital with a purpose, fuel for global expansion, sharper automation, and faster product innovation. It builds on a $7.5M seed round earlier this year co-led by Inovia Capital and Afore Capital with participation from BY Venture Partners, FJ Labs, Golden Ventures, Telegraph Hill Capital & Four Cities Capital. Total raised: $9M. The roster reads like a who’s who of smart money, and most of them aren’t just investors, they’re customers.
Vessel Funds Inc.’s platform is an AI-powered engine that modernizes every GP-LP touchpoint, fundraising, co-investments, capital calls, reporting, compliance, all in one sleek, secure space. Think personalized fund pages, real-time LP engagement data, NDA-gated deal rooms, automated capital calls, and tax docs that send themselves. It’s SOC 2 Type II certified, encrypted end-to-end, and built on AWS with enterprise-grade security. Not bad for a 13-person crew out of Montreal.
More than 30 funds across North America, Europe & the Middle East already run on Vessel Funds Inc., including Inovia Capital, Afore Capital, BY Venture Partners, FJ Labs & Storytime Capital. Inovia Capital uses it to automate co-investment distributions across 30+ deals. FJ Labs pushes 100+ co-investments a year through the platform. Storytime Capital manages 78 LPs from Fund I through a custom-branded portal that turns transparency into a flex.
Private markets hold $140T in potential, yet 80% of investor relations time still goes to manual grunt work. Vessel Funds Inc. is flipping that ratio, not with noise, but with real tech that gives GPs their time (and sanity) back. The $1.5M from CIBC Innovation Banking isn’t just funding; it’s fuel for a smarter, faster private market infrastructure. Vessel Funds Inc. isn’t trying to reinvent fundraising, it’s making it intelligent.
