Private equity · Venture · Private credit

Everything your firm knows, in one system it can answer from.

Funds, deals, portfolio, investors, private credit and compliance in a single governed model — so performance has one answer, and you can always show where it came from.

astra.mgmnt.work / funds / all funds
Funds All funds By vintage Fundraising Export New fund
Committed
$4.28B
6 funds
Deployed
$3.11B
72.6%
NAV
$3.92B
Mar 31
Net IRR
18.4%
since 2015
DPI
1.32x
realised
FundVintageCommitted DeployedNet IRR DPI
A4Astra Equity Partners IV 2023$1.25B $412M11.2% 0.08x
A3Astra Equity Partners III 2021$980M $854M21.4% 0.62x
COAstra Credit Opportunities II 2022$640M $498M12.8% 0.41x
A2Astra Equity Partners II 2018$720M $720M24.1% 1.86x
G1Astra Growth I 2020$410M $366M17.9% 0.94x
A1Astra Equity Partners I 2015$280M $280M19.6% 2.41x
The problem

Most firms do not have a system of record. They have several.

01The problem

The firm's truth is spread across systems that were never meant to agree with one another.

Fund data sits with the administrator. The pipeline sits in a CRM designed for selling software. Portfolio performance arrives as workbooks attached to email. Commitments, capital calls and covenants live in spreadsheets that one person maintains and everyone depends on.

Each of those is a reasonable choice on its own. Together they are not a system of record, because nothing reconciles them but people.

02What it costs

The cost is not the effort. It is that nobody can be certain.

A figure restated in one place does not propagate to the other five, so the same metric can appear differently in an LP report and a board pack — and it is usually someone external who notices first. Quarter-end turns into reconciliation rather than analysis. Asked who changed a valuation and when, the honest answer is that it is somewhere in an inbox.

This is also the reason AI has not helped. A model reading six sources that disagree does not hedge; it produces a confident answer that happens to be wrong.

03Why it persists

Because the shape of the work keeps changing, and most software cannot follow it.

A firm that adds a credit strategy, a continuation vehicle or a new reporting obligation needs its model to change with it. Software that fixes the meaning of fund, deal and investor in code cannot follow, so the difference is made up in spreadsheets — and the cycle begins again.

Which points at what a durable answer has to look like: the model itself has to be data.

The model

The model is data, so it changes when the firm does.

Adding a credit strategy or a continuation vehicle should not require anyone to ship software. Every object type, field, pipeline stage, KPI strip, view and profile section is read from one schema at runtime — there is no fund-shaped code path and no credit-shaped one.

Add a field and it appears in the table, the entry form, the filter menu, the export and the API at once. That completeness is what stops the parallel spreadsheet from reappearing a month later.

  • Field types19
  • Formula, rollup & derived fieldsComputed
  • Conditional visibility & editabilityPer field
  • Access rulesPer field, per role
settings / objects / portfolio company
Portfolio company 39 fields Forms Add field
Schema definition
Company nametext
Sectorselect
Enterprise valuecurrency
Ownershippercent
Fundrelation
Deal teammembers
MOICformula
Regionselect
Board seatsnumber
Entry datedate
Websitelink
Headquartersaddress
Covenant headroomrollup
Appears in, immediately
Portfolio tablecolumn
New company forminput
Filter & sort menuoperator
Board & card viewsmeta
Record profilesection
Dashboard widgetsmetric
CSV · XLSX · JSON exportfield
Relationship mapnode
Workflow conditionstrigger
Compliance checksrule
Document templatesbinding
Search indexindexed
Copilot & agent toolscontext
Views

One set of records, however each desk needs to see it.

When a tool offers a single shape, everyone it does not suit exports to a spreadsheet — and from that moment the firm has two versions of the same records, drifting apart quietly.

Table, board, cards, calendar, map and pipeline are layouts over one dataset, not copies of it. Filtering, sorting and grouping run on the server, so a view over a hundred thousand records opens like a view over ten.

  • Six view layoutsOne dataset
  • Filter, sort & groupServer-side
  • Saved views → dashboardsComposable
  • Export any viewCSV · XLSX · JSON
astra.mgmnt.work / deals / live pipeline
Table Board Cards Calendar Map Pipeline Sector is Healthcare EV > $50M
Screening 8
Northwind Diagnostics
$74MHealthcare
Orbital Freight
$51MLogistics
Palegate Software
$96MSoftware
Cedarline Care
$43MHealthcare
Ashcroft Tooling
$67MIndustrials
Diligence 5
Meridian Health
$182MHealthcare
Cobalt Logistics
$118MLogistics
Stonebridge Labs
$92MHealthcare
Perrin Utilities
$204MInfrastructure
IC review 3
Vantage Foods
$64MConsumer
Harlow Instruments
$88MIndustrials
Alder & Vine
$57MConsumer
Signed 2
Ridgeline Dental
$139MHealthcare
Kestrel Payments
$76MSoftware
Records

The record keeps the history, so nobody has to remember it.

Context usually lives outside the system: the diligence thread in one inbox, the board pack on a drive, the reason a valuation moved in nobody's notes at all. When the person moves on, the context goes with them.

Fields, relations in both directions, comments, files, tasks, activities, emails and meetings sit on the record itself. The relationship map walks outward and applies permissions at every hop — so it tells you three records exist that you may not see, rather than quietly omitting them.

  • Profile tabs & sectionsConfigurable
  • Forward & inverse relationsBoth ways
  • Comments, tasks, notes, filesOn the record
  • Relationship mapACL'd per hop
astra.mgmnt.work / portfolio / meridian health
MH

Meridian Health

Diligence Healthcare Astra Equity III
Log activity Ask AI
Meridian Health Astra Equity III Q1 2026 mark S. Whitfield Facility A · $85M +3 not visible to you
Sector
Healthcare services
Enterprise value
$182.0M
Ownership
64.0%
MOIC
2.41x
Deal team
T. Okafor, P. Raman
Covenant
2.4x / 3.0x
Next IC
12 May 2026
Entry date
04 Aug 2021
Region
North America
Board seats
2 of 5
Revenue FY26
$420.3M
Last mark
Q1 2026
Financials & analytics

One number, and one way it was derived.

Portfolio figures are usually re-entered on the way up — company workbook to fund model to LP report. Every hop is an opportunity for two versions of the same number to exist, and for the disagreement to surface in front of an investor.

Metrics are entered, calculated, or consolidated up the relation path you already modelled, so a fund total is the sum of its companies by construction rather than by a monthly copy-paste. Actual, Budget and Forecast sit side by side, reporting currency converts on daily rates, and the grid round-trips through Excel with a revision history.

  • Actual · Budget · ForecastScenarios
  • ConsolidationUp relation paths
  • Multi-currencyDaily FX
  • Excel round-tripWith revisions
astra.mgmnt.work / financials / astra equity iii
Actual Budget Forecast USD FY 2026 Import .xlsx Export
MetricQ1Q2Q3 Q4FY 26
Revenue218.4231.7 244.2259.8 954.1
Meridian Health96.2101.4 107.8114.9 420.3
Cobalt Logistics74.178.9 82.488.2 323.6
Vantage Foods48.151.4 54.056.7 210.2
EBITDA52.857.1 60.966.4 237.2
Gross margin61.4%62.0% 62.9%63.5% 62.5%
Capex18.219.6 17.421.0 76.2
Net debt341.0336.2 328.7319.4 319.4
Leverage2.9x2.8x 2.6x2.4x 2.4x
AI

AI is only worth as much as the record underneath it.

Pointed at sources that disagree, a model does not hedge — it answers confidently and wrongly, which is worse than not answering at all. A governed record is the precondition for any of this being useful, not a refinement of it.

Ask a question and the answer comes back composed from the app's own components, under exactly your permissions. Agents propose rather than write: anything a model wants to create or change queues for a person to approve, and the whole run is kept as history you can reopen.

  • Composed answersReal components
  • Proposals, not writesApproval-gated
  • Generates objects, views, dashboards, workflowsBuild mode
  • Every run keptAudited
astra.mgmnt.work / copilot
⌘I Which companies breach a covenant if rates rise 100bp?
Two of eleven companies fall below the 3.0x leverage covenant at +100bp. Harlow Instruments breaches this quarter; Cobalt Logistics breaches in Q3.
Read 11 portfolio companies · 14 facilities · covenant terms as at 31 Mar Your permissions
At risk at +100bp
2 of 11
$206M exposure
Companies
HIHarlow Instruments 3.14x Q2
CLCobalt Logistics 3.02x Q3
MHMeridian Health 2.61x
VFVantage Foods 2.18x
RDRidgeline Dental 1.94x
PUPerrin Utilities 1.72x
Save as view Add to dashboard
Workflows

The process runs whether or not anyone remembers it.

Stage gates, sign-offs and quarter-end sequences tend to live in habit and a checklist. They hold for as long as the people who wrote them are in the room, and they are the first thing to slip in a busy quarter.

Workflows run as a graph and checkpoint after every node, so a restart resumes rather than starts again. Any step can be an approval gate: the change is computed, held, and applied only once the named approvers have signed off.

  • Durable graph executionCheckpointed
  • Approval gatesMaker-checker
  • Scheduled runsDST-correct
  • VersionedWith rollback
astra.mgmnt.work / workflows / ic gate
Deal reaches IC review Enabled v7 History Run
Stage changed EV > $50M Approval · 2 partners Draft IC memo File to data room Notify deal team
Awaiting Meridian Health — held at approval, 1 of 2 signed off Pending
12 May Ridgeline Dental — approved by T. Okafor and M. Okonkwo, memo filed Complete
04 May Orbital Freight — condition not met, run ended at step 2 Skipped
28 Apr Northwind Diagnostics — approved, memo filed to Deals / 2026 / Q2 Complete
21 Apr Palegate Software — resumed after restart at step 4, no steps repeated Complete
17 Apr Cedarline Care — declined at approval by M. Okonkwo, change discarded Declined
Governance

When someone asks who changed it, there is an answer.

Access granted screen by screen leaks: a figure an analyst cannot see on the record still appears in an export, a chart, or an AI answer. And a valuation that changed with no attribution is a problem you discover at the least convenient moment.

Every mutation is audited with its before and after, attributable to a person and restorable. Access is enforced per field and per role — in exports and AI answers too, not only on screen. Compliance domains are yours to define, and privacy covers subject access, erasure, retention and legal hold.

  • Field-level accessPer role
  • Full audit trailWith restore
  • Compliance domainsUser-defined
  • DSAR, erasure, retentionGDPR · CCPA
astra.mgmnt.work / activity
Activity All events Field changes Access Export
4s ago P. Raman set Ownership on Meridian Health 61.0% 64.0% Restorable
2m ago T. Okafor moved Cobalt Logistics Screening Diligence Stage
14m ago Consolidation recalculated Revenue FY26 for Astra Equity III System
1h ago Mandate limit breached — Harlow Instruments leverage 3.14x against 3.00x Breach
3h ago Subject access request for S. Whitfield exported and closed Privacy
Yesterday M. Okonkwo hid Ownership from the Analyst role on Portfolio company Access
Yesterday KYC dossier for Redwood Pension completed — 4 of 4 documents verified Compliance
2 days ago P. Raman restored Meridian Health to its 12 May state Restored
2 days ago Retention rule purged 14 contacts past their seven-year window Privacy
3 days ago Attestation Q2 personal dealing — 38 of 41 signed off Compliance
4 days ago Legal hold placed on Orbital Freight, retention suspended Hold
Data in

A record that does not fill itself goes stale.

Any system of record that depends on somebody remembering to update it decays, and once it is a little out of date everyone quietly goes back to the source they trust instead.

Point it at a REST endpoint, a CSV, an XML feed, or a page that needs a real browser to render. Nothing lands silently: rows that fail validation wait in a review queue for a person to accept, fix or reject. Connect Gmail or Outlook and threads and meetings attach themselves to the right deal.

  • API, CSV, XML & browser sourcesOne editor
  • Review queueBefore commit
  • Scheduled syncsEncrypted secrets
  • Gmail & OutlookAuto-linked
astra.mgmnt.work / data sources / valuation feed
GEThttps://api.fundadmin.example/v2/valuations?fund={{record.code}}
nav_usd→ NAV
as_of_date→ Valuation date
multiple→ MOIC
currency→ Currency
unrealised_gain→ Unrealised
fund.code→ Fund (relation)
source_ref→ skipped
Syncing Run 148 — 22 of 26 rows applied 4 to review
Inbox — linked automatically
Redwood Pension — Q1 capital account queryInvestor
Meridian Health — audited FY25 packPortfolio
Harlow Instruments — covenant certificateLoan
S. Whitfield — board dates for JuneContact
Cobalt Logistics — management accounts, AprilPortfolio
Perrin Utilities — data room access requestDeal
Ashcroft Tooling — signed NDA returnedDeal
Kestrel Payments — Q1 board pack and minutesPortfolio
Northbank Trust — side letter queryInvestor
M. Okonkwo — IC agenda for ThursdayMeeting
What changes

One place the numbers agree.

A record that can account for itself, a quarter-end that is analysis rather than reconciliation, and AI worth trusting because of what sits underneath it.

Bring a fund, a deal and a reporting pack you actually use. The question worth half an hour is whether the model fits your firm — not whether the slides look good.

Book a demo hello@mgmnt.work