NorthMountain Fund Services
NorthMountain Fund Services is a private Bay Area fund administration boutique providing tailored back-office and middle-office services—including fund accounting, reporting, capital calls, portfolio tracking, and performance analysis—to venture capital, private equity, corporate VC, and fund-of-funds firms on a recurring, quote-based engagement.
- Company typePrivate
- Founded-
- HeadquartersDanville, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What NorthMountain Fund Services does
NorthMountain Fund Services LLC is a privately-held fund administration boutique based in Danville, California (San Francisco Bay Area), providing tailored back-office and middle-office services to venture capital firms, private equity firms, corporate venture capital arms, and fund-of-funds managers. Its service catalog spans fund accounting, reporting, capital calls and distributions, audited financial statement preparation, portfolio company tracking, performance analysis, IR request support, performance benchmarking, and J-Curve cash flow analysis, with clients able to select back-office only or the combined back-office and middle-office offering. The firm is co-founded by Ni Yan (MBA, University of San Francisco) and Min Ma (CPA, California active; Michigan inactive), both formerly of Northgate Capital, a $5B AUM investment fund, and drawing on prior experience at Bank of New York Mellon, PwC Venture Capital practice, KPMG financial services, and Aduro Advisors.
The underlying technology is described as a service-based fund administration platform rather than a packaged software product, with the competitive differentiation grounded in the founders' domain expertise across more than 100 historical entities and specialization in complex fund structures (multi-series LLCs, SPVs, C-Corp blockers), foreign investments, and institutional or foreign LP requirements. Pricing is not publicly disclosed and is structured on a quote-based, customized engagement basis, and revenue is generated on a recurring subscription basis tied to ongoing fund administration deliverables.
The go-to-market motion is enterprise field sales executed through direct relationship-based engagement and professional network referrals, leveraging the founders' alumni connections across Northgate Capital, BNY Mellon, PwC, KPMG, Aduro Advisors, and the broader Bay Area venture ecosystem. The firm operates with 1-10 employees, has not disclosed external funding, and does not disclose customer names or contract values in public materials.
NorthMountain Fund Services firmographics
Firmographics- Name
- NorthMountain Fund Services
- Legal name
- NorthMountain Fund Services LLC
- Website
- https://nmfundservices.com
- Company type
- Private
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- NorthMountain Fund Services is a private Bay Area fund administration boutique providing tailored back-office and middle-office services—including fund accounting, reporting, capital calls, portfolio tracking, and performance analysis—to venture capital, private equity, corporate VC, and fund-of-funds firms on a recurring, quote-based engagement.
- Ownership category
- akta.pro rank
NorthMountain Fund Services industry classification
Industry- Product category
- Fund Administration Services
- NAICS
- Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525)
- SIC
- Investment Advice (6282), Finance Services (6199)
- akta.pro primary industry
- Sub-Accounting & Platform Servicing (Omnibus, Intermediary/NSCC, Retirement Platforms) (FSAAAMAI)
Keywords
Where NorthMountain Fund Services is headquartered
LocationHeadquarters
- HQ city
- Danville
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
NorthMountain Fund Services business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales
Revenue model
- Fund Administration Services: Professional fund administration services including back-office and middle-office support for investment firms. Services are provided on an ongoing basis with customized delivery based on client requirements.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels1 record
NorthMountain Fund Services product offering
Product offeringCore offering
NorthMountain Fund Services provides professional fund administration back-office and middle-office services to venture capital firms, private equity firms, corporate VCs, and fund of funds. Clients can choose back-office only or a combined back-office and middle-office offering, with tailored delivery covering fund accounting, reporting, capital calls, distributions, audited financial statement preparation, portfolio company tracking, performance analysis, IR requests, and J-Curve cash flow analysis.
Product overview
NorthMountain Fund Services offers a unified full-service fund administration platform combining back-office and middle-office services for investment firms. The back-office services include fund accounting, reporting, and administration, while the middle-office services encompass portfolio company tracking and performance analysis. Clients can choose back-office only or the combined back-office and middle-office offering, with expertise in complicated fund structures, foreign investments, and institutional LP requirements.
Differentiator
Problem solved
Functional benefit
Products and services
- Back-Office Services Fund administration back-office services including fund accounting, reporting, administration, capital calls, distributions, and audited financial statement preparation for investment firms (venture capital, private equity, corporate VCs, and fund of funds).
- Middle-Office Services Fund administration middle-office services including portfolio company tracking, performance analysis, IR requests, performance benchmarking, J-Curve cash flow analysis, and operational improvements for investment firms.
Companies that use NorthMountain Fund Services
Customer profileSegments4 records
Ideal customer profiles4 records
NorthMountain Fund Services technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
NorthMountain Fund Services partnerships and signals
Strategic signalScale indicators4 records
Recent moves1 record
Expansion highlights3 records
NorthMountain Fund Services competitors and assessment
Company assessmentBroad incumbents
- TMF Group: Global provider of fund administration, corporate services, and compliance support to alternative asset managers. Overlaps with NorthMountain on PE/VC fund administration mandates, particularly for funds with cross-border structures.
- SS&C GlobeOp (SS&C Technologies): Large-scale fund administration business within SS&C Technologies, serving thousands of alternative investment funds globally. Represents the incumbent scaled alternative NorthMountain competes against for institutional mandates.
- Citco Fund Services: One of the largest independent fund administrators globally, providing fund accounting, administration, and middle-office services to PE, VC, hedge, and FoF managers. Sets the standard for institutional-grade service delivery.
Direct peers
- Opus Fund Services: Independent third-party fund administrator providing middle- and back-office fund administration to hedge funds, private equity, and venture capital funds. Competes in the same outsourced administration category.
- Gen II Fund Services: Independent fund administration provider serving private equity, venture capital, hedge funds, and fund of funds with both back-office and middle-office services. Closest scaled competitor in terms of service scope and target segments.
- Juniper Square: Leading software-enabled fund administration and investor reporting platform for VC and PE GPs. Most directly comparable to NorthMountain's target customer base, though it operates at much greater scale and with proprietary technology rather than a pure service model.
- Aduro Advisors: Specialized fund administration and back-office services firm for VC and emerging manager clients. Highly comparable given that co-founder Min Ma was previously Senior Controller at Aduro and serves an overlapping client base.
- Standish Management: Boutique fund administration firm serving venture capital, private equity, and fund-of-funds managers. Highly comparable boutique positioning with similar focus on complex structures and emerging managers.
- Carta: Provides cap table management, fund administration, and LP reporting for VC and PE funds. Competes head-to-head with NorthMountain for venture fund administration mandates and has expanded aggressively into fund-of-funds and secondary fund administration.
Emerging players
- KoreFund: Emerging fund administration and accounting services firm focused on venture capital and emerging managers. Comparable boutique service offering targeting a similar emerging-manager customer segment as NorthMountain.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights5 records
Customer concentration
NorthMountain Fund Services financial estimates
Financial estimateRevenue estimate
Valuation estimate
NorthMountain Fund Services leadership team
Management profileNumber of profiles
Profiles2 records
NorthMountain Fund Services funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
NorthMountain Fund Services M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about NorthMountain Fund Services
What does NorthMountain Fund Services do?
NorthMountain Fund Services provides professional fund administration back-office and middle-office services to venture capital firms, private equity firms, corporate VCs, and fund of funds. Clients can choose back-office only or a combined back-office and middle-office offering, with tailored delivery covering fund accounting, reporting, capital calls, distributions, audited financial statement preparation, portfolio company tracking, performance analysis, IR requests, and J-Curve cash flow analysis.
Is NorthMountain Fund Services a public or private company?
NorthMountain Fund Services is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was NorthMountain Fund Services founded?
NorthMountain Fund Services was founded in -1. It employs 1 to 10 people.
Where is NorthMountain Fund Services based?
NorthMountain Fund Services is headquartered in Danville, United States, in the North America region.
How does NorthMountain Fund Services make money?
One revenue line is on record: fund Administration Services.
Who are NorthMountain Fund Services's main competitors?
Broad incumbents on record are TMF Group, SS&C GlobeOp (SS&C Technologies) and Citco Fund Services. Direct peers are Opus Fund Services, Gen II Fund Services, Juniper Square, Aduro Advisors, Standish Management and Carta. KoreFund is listed as an emerging player.
Does NorthMountain Fund Services have an API?
No public API is recorded for NorthMountain Fund Services.
What industry is NorthMountain Fund Services in?
NorthMountain Fund Services's product category is Fund Administration Services. Its primary akta.pro industry code is FSAAAMAI, Sub-Accounting & Platform Servicing (Omnibus, Intermediary/NSCC, Retirement Platforms). Its NAICS code is 523940 and its SIC code is 6282.