Client Spotlight: Provenio Capital

Canoe Intelligence talked with Jeremy Chused, Senior Vice President of Investment Operations at Provenio Capital about his experience managing alternatives documents and data to learn more about how the recently released Canoe x Addepar API has helped the firm automate traditionally manual workflows and support business growth.

Provenio Capital specializes in the sourcing and diligence of alternative investment strategies across hedge funds, private equity, venture capital, real estate, and direct deals. The firm builds portfolios that are less correlated to the broader markets and aims to generate outperformance during periods of dislocation in order to produce excellent risk-adjusted returns for clients with significantly less volatility. As part of the overall investment process, Provenio incorporates the appropriate planning and structure to maximize after-tax returns.

Q1: Describe your tech stack at Provenio.

We’ve incorporated technology into every aspect of our business. Our tech stack includes 5 main pillars:

  1. Reporting and Document Management: Addepar and Canoe
  2. Document Delivery: SendSafely
  3. Electronic Signatures: Several subscription management platforms, such as +SUBSCRIBE and Adobe Sign
  4. CRM: Affinity
  5. Project Management: Airtable

Q2: How has your workflow changed since using the Canoe x Addepar API?

Our firm focus is on alternatives, so Canoe “ingests” a few thousand documents each quarter for us. We have created some new views in Addepar allowing us to run “checks and balances” making sure the data is being properly imported. Reducing the number of steps it takes to get data into Addepar helps to improve data accuracy and save time. With the Canoe x Addepar API, investing in new alternative managers or funds is much simpler. Now, we do not need to set these new managers or funds up in both systems but can set them up once in Addepar and then sync to Canoe. This greatly reduces duplication and brings our team additional efficiency.

Q3: What results have you experienced or do you expect to experience with the Canoe x Addepar API?

The Canoe x Addepar API helps to remove a couple of steps, which adds up in terms of hours spent on reporting. Our efficiency has increased and it allows us to continue to scale without increasing headcount. We continue finding ways to become more streamlined in our reporting process, allowing us to provide results to our clients in a timely and accurate fashion. The Canoe x Addepar API is a big step in the right direction. 

About Jeremy Chused, Senior Vice President of Investment Operations, Provenio Capital

Jeremy joined Provenio at inception in 2016 and is responsible for investment operations. Prior to joining Provenio, Jeremy was SVP of Investment Services at Tippett, Moorhead & Haden and, before that, an Associate Director with ICG Advisors. Jeremy earned his BS in Advertising with a minor in Business Administration from the University of Texas.