What Viridis Fund Solutions does

Viridis Fund Solutions (VIRIDIS Fund Solutions, LLC) is a privately held fund administrator founded in 2024 and headquartered in Owings Mills, Maryland. The firm provides outsourced middle-office and back-office administration services to private equity and venture capital fund managers, including capital call and distribution processing, fund accounting, financial reporting, waterfall and carry calculations, investor portal management, treasury services, K-1 tax processing, and audit support. The service spans the full fund lifecycle from formation through wind-down and is positioned for both established managers and first-time fund launchers, with named reference clients at the $450M-$500M AUM tier. The company's technology stack is built on third-party enterprise platforms — Allvue for fund accounting and Salesforce for CRM — augmented by proprietary investor portal and virtual data room capabilities and dedicated calculation engines for capital activity and waterfall processing. The firm is AICPA SOC 1 certified and has received a "Newcomer of the Year - Fund Administrator" industry award.

Viridis is led by a five-partner team with prior senior roles at StepStone Group and Greenspring Associates, including CEO Carrie McIntyre (former CEO of StepStone's PE fund administration business and CFO of Greenspring) and COO Josh Heching (former leader of Greenspring Back Office Solutions). The firm claims 90 years of combined leadership experience and a team of former in-house CFOs and fund accounting professionals, which it positions as its primary differentiator versus larger, less specialized administrators. The LP Operations team supports over 6,000 investors across client portfolios, and the company publishes an active insights blog targeting operational pain points such as secondary fund complexity, waterfall model selection, and PE CFO evolution.

The business operates on a quote-based, recurring managed services model with revenue derived from fund administration fees — likely a function of assets under administration and fund complexity — supplemented by management company support services (invoice tracking, cash forecasting, trial balance). Distribution is exclusively direct enterprise sales conducted on a consultative, relationship-driven basis, with no disclosed outside funding, parent company, or reseller channels. Operations are currently concentrated in the United States.

Name

Viridis Fund Solutions

Legal name

VIRIDIS Fund Solutions, LLC

Website

https://viridisfs.com

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

51–100 employees

Short description

Viridis Fund Solutions is a Maryland-based fund administrator founded in 2024 that provides outsourced middle- and back-office administration — including fund accounting, capital call processing, waterfall calculations, and investor reporting — to private equity and venture capital fund managers across the fund lifecycle.

Ownership category

akta.pro rank

Headquarters

HQ city

Owings Mills

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Fund Administration Services: Viridis generates revenue through fund administration service fees charged to private equity and venture capital fund managers. Services include middle office (capital activity, portal maintenance, investor/GP services, treasury, operations, tax support) and back office (fund accounting, financial reporting, fund audit support) functions. Revenue is likely structured as recurring fees based on assets under administration or fund complexity.
2. Management Company Support Services: Additional services including invoice tracking, cash forecasting, trial balance management, and tax support provided to management companies of fund managers.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Viridis Fund Solutions provides outsourced middle and back-office fund administration for private equity and venture capital fund managers. Its offering spans capital activity management, fund accounting and financial reporting, waterfall and carry calculations, treasury services, audit and tax support, management company services, and secure investor portals and virtual data rooms, covering the full fund lifecycle from launch through dissolution.

Product overview

VIRIDIS Fund Solutions provides a comprehensive suite of private fund administration solutions organized into three interconnected service pillars: Middle Office Services (capital calls, distributions, treasury, investor communication, tax support), Back Office Services (fund accounting, financial reporting, audit support), and Management Company Support (invoice tracking, cash forecasting, trial balance). The company also offers supplementary technology platforms including secure investor portals and virtual data rooms. The offering operates as a unified fund administration service spanning the entire fund lifecycle from launch through dissolution, supporting established managers, emerging managers, and first-time fund launchers.

Differentiator

Problem solved

Functional benefit

Products and services

• Middle Office Services

Quantifiable outcome

• Transforms back-office operations with improved efficiency, transparency, and accuracy in financial reporting

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• iCapital Network: Alternative investments platform expanding into fund administration, investor onboarding, and reporting for private equity, private credit, and structured products. Emerging player with partial overlap in fund operations and LP servicing.

Direct peers

• Juniper Square: Investor reporting and fund operations platform for PE and VC managers, with investor portal, capital account management, and fund administration workflows. Direct competitor to Viridis in the tech-enabled PE/VC fund services layer.
• GenII Fund Services: Leading independent fund administrator with deep specialization in private equity, venture capital, and private debt funds. Most direct comparable in target market, service mix (fund accounting, investor reporting, waterfall), and mid-market GP focus.
• Carta: Cap table management leader that has expanded into fund administration, investor reporting, and LP services for venture and PE managers. Targets the same emerging-manager and mid-market GP customer base with technology-enabled administration.
• Aksia: Alternative investment operations specialist providing fund administration, operations due diligence, and operational support to PE and hedge fund managers. Closely comparable in niche focus on alternatives operations.
• Anduin: Fund operations workflow and data platform serving PE, VC, and private debt managers with investor onboarding, capital call processing, and reporting. Competes for the same investor-experience and capital activity automation use cases.

Broad incumbents

• Citco Fund Services: Major global fund administrator with significant private equity and venture capital practice. Incumbent competitor offering comprehensive middle/back-office services to large and mid-sized fund managers.
• IQ-EQ: Global fund administration and investor services firm with dedicated PE, VC, and private debt practice. Competes for mid-to-large alternative investment managers across middle and back-office services.
• Standish Management (BNY Mellon): BNY Mellon-owned fund administrator specializing in alternative investment funds including PE and VC. Direct competitor in mid-market GP segment, with parent balance sheet and broader distribution.
• SS&C Technologies (GlobeOp): One of the largest global fund administrators (via GlobeOp), serving hedge funds, PE, and private credit with middle and back-office services. Broad incumbent with PE/VC practice that competes for established managers.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/viridisfundsolutions

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Viridis Fund Solutions