How $1B AUM Susa Turned Finance from Reactive to Proactive

Customer Bio

Susa manages over $1 billion in assets across three fund families, ~250 portfolio companies, and institutional LPs that include top 10 banks and endowments.

• Susa Ventures (est. 2013) - Seed-stage fund investing in software, AI, fintech, healthcare, and supply chain. 10% unicorn rate (10x industry average). Portfolio includes Robinhood (IPO), Flexport, Together AI and Human Interest.
• Kivu Ventures (est. 2019) - Series A/B fund investing $5-15M in companies with demonstrated product-market fit. Focus on vertical AI, AI infrastructure, logistics, and fintech.
• Humba Ventures (est. 2021) - Deep tech and American Dynamism fund investing $250K-$1M at pre-seed and seed. Focus on robotics, energy, defense, and manufacturing.

Kenny Joo, CFO, oversees fund administration across the platform.

The Problem

Kenny Joo, CFO, ran fund administration through a legacy provider while maintaining portfolio management and performance reporting separately in Excel. Every quarter meant the same cycle: export data, pull cap tables, reconcile discrepancies, and hope the numbers matched before LP reports went out.

Capital calls took 48 hours. Portfolio document management was manual. And when LPs asked questions, the answer was usually "let me get back to you."

"We were always stretched trying to keep multiple systems of record in sync and up to date. We were always being reactive." Kenny says.

Why Hanover Park

1. One platform, one truth. Fund administration, portfolio management, and LP reporting live in a single system synced to the general ledger in real-time. No more reconciling between the fund admin and internal spreadsheets. When Kenny updates a valuation, it flows through to LP statements automatically.
2. AI Agents that execute. Hanover Park's AI agents don't just surface data. They take action. Bill pay requests arrive via email and AI agents create tasks and propose journal entries. Investment requests are generated from deal documents and synced to the GL. Susa's dedicated fund admin team reviews and approves instead of creating and reconciling.
3. Speed as default. Capital calls go out the same-day. Transactions reconcile in real-time.

The Result

"We went from chasing numbers to actually using them," Kenny says. "When your fund admin and portfolio management live in the same system - and AI is doing the grunt work - our fund finance becomes proactive. That's the unlock."