Lantern buys Freyda for private markets data platform
The deal pairs data assurance with AI document intelligence for institutional investors and fund administrators handling alternative investment reporting workflows.
Freyda, an AI-powered document intelligence platform for institutional investors and fund administrators, has been acquired by Lantern for its private markets data assurance platform.
The company automates extraction, normalization and processing of unstructured financial documents used in alternative investments, including capital notices and quarterly statements, and says clients can process data up to 75x faster.
The combination adds source-document processing to Lantern's validation and verification layer, connecting GP-generated reporting with LP-ready data for investment decisions.
Lantern also added Jef Rice as chief technology officer, Jeff Williams as chief product officer and James Moore, Freyda co-founder, to its leadership team.
Lantern was founded by Edward Moore, founder and former CEO of Aztec Group; Freyda was founded by Danielle Lawrence Sandhu and James Moore.
Terms were not disclosed.