Welcome back to the Alt Goes Mainstream podcast.

Today’s episode dives into what the future of fund administration could look like with a tech-forward approach and the application of AI.

We sat down with Juniper Square CEO and Co-Founder Alex Robinson to discuss how and why they’ve built a digital first fund administrator for private markets, starting with real estate and since expanding into other asset classes.

Fresh off of a $130M Series D fundraise led by Ribbit Capital, Juniper Square has expanded globally, into fund administration through its acquisition of Forstone, and has launched JunieAI to bring AI to fund administration.

Alex and I had a fascinating conversation. We discussed:

• Why Alex started Juniper Square and how his two entrepreneurial endeavors has informed how he’s built the firm.
• The problem Alex set out to solve by building Juniper Square.
• After dealing with FedEx’s to make investments, how he set out to build an investor experience that was digital.
• How AI will impact fund admin.
• Why every GP should have an AI agent according to Alex.
• Why Juniper Square decided to move from a technology firm to add fund administration capabilities in house.
• Does AI benefit larger firms or smaller firms more?

Thanks Alex for coming on the Alt Goes Mainstream podcast to share your expertise and wisdom on fund administration and AI.

A word from AGM podcast sponsor, Juniper Square

When was the last time things were easy for GPs?

Fundraising remains challenging, providing liquidity to investors is even harder—and broadly speaking, most GPs are underwater operationally.

It’s not about to get easier, either. Especially for managers vying for capital from the wealth channel. Sure, there’s increased demand from HNW and UNHW investors to gain private markets exposure…but managing their expectations for the investing experience is a whole different ballgame.

Reams of paper and a new KYC process every single time they subscribe to a fund? Brutal.

But what if committing capital to private equity, venture, and real estate funds was digital and seamless for investors — and scalable to manage for GPs?

Meet Juniper Square, the fund operations partner to over 2,000 private markets GPs worldwide.

Juniper Square gives GPs the connected software, data, and fund administration services needed for modern private markets. No matter how ambitious your next raise is, how many investors you manage, and how complex your investment vehicles are, Juniper Square empowers GPs to raise capital faster, reduce operational risk, and deliver a world-class investor experience.

And with JunieAI, Juniper Square's enterprise-grade AI built for private markets, GPs can truly and finally unlock the power of AI to work smarter, move faster, and focus on relationships and returns.

Scale your business, not your operational burdens and costs. Visit junipersquare.com/agm today to learn more.

Show Notes
00:03 Juniper Square: Revolutionizing Fund Management

01:38 Welcoming Alex to the Podcast

01:59 Alex's Journey to Founding Juniper Square

02:10 Juniper Square's Mission and Services

02:38 The Early Days and Challenges

03:41 The Digital Transformation of Private Markets

04:15 Focusing on the GP Experience

04:30 Balancing GP and LP Needs

04:54 The Naivete Advantage

05:12 Overcoming Industry Challenges

06:58 Real Estate: The Starting Point

08:41 The Evolution of Juniper Square

09:38 Technology Adoption in Private Markets

17:21 The Importance of Customer Feedback

18:09 The Vision for Market Efficiency

20:10 Expanding Across Asset Classes

21:09 The Role of Personal Relationships

22:49 Becoming a Full-Stack Service Provider

24:31 The Complexity of Fund Administration

28:55 The Future with AI

29:21 Challenges of Implementing AI

30:31 The High Cost of Mistakes

31:18 AI's Impact on Employee Productivity

31:52 Challenges of Adopting AI in the Workplace

32:20 Launching JunieAI

32:59 Understanding AI Models

33:44 Customizing AI for Reporting

34:44 Mastering Data for AI

35:13 AI in Software Development

35:59 Leveraging AI at Juniper Square

36:19 Ensuring Accuracy and Context in AI Models

37:30 AI's Limitations in Financial Insights

37:52 Future Improvements in AI Models

38:36 Feeding AI the Right Context

39:11 Connecting AI to Tools and Workflows

40:19 Automating Fund Administration

43:39 AI's Role in Competitive Advantage

44:24 AI's Impact on Different Asset Classes

46:16 Best Practices for GPS Using AI

47:02 AI's Benefits for Large vs. Small Firms

48:58 Integrating AI Across Business Functions

51:39 Balancing AI with Human Relationships

54:33 Future Vision for Private Markets

55:02 AI Agents in GP Work

56:07 Transforming GP-LP Matchmaking

01:00:50 Investment Opportunities in AI and Real Estate

Editing and post-production work for this episode was provided by The Podcast Consultant.