Building the operating system for modern family offices: why we invested in Asseta

WHY WE INVESTED:

ASSETA

Family offices have evolved significantly over the past decade. Portfolios have grown more complex, with increasing exposure to alternative assets, private markets, and multi-jurisdictional structures. Reporting expectations have risen to institutional standards. Operations span multiple entities across different tax regimes and regulatory frameworks.

The accounting and operational infrastructure available to manage this complexity, however, was built for a simpler era. Small busines stools, such as QuickBooks, weren't designed for multi-entity, multi-jurisdictional operations. Enterprise resource planning systems offer the sophistication, but require six to twelve month implementations and six-figure budgets that most family offices can't justify. The gap between portfolio complexity and available tooling continues to widen.

This is why our Venture team invested in Asseta.

Who they are

Asseta is building a purpose-built operating system for modern family offices. The platform combines a real-time, multi-entity general ledger with AI-assisted workflows, an OCR-powered document vault, and a native investments module that brings portfolio data directly into the ledger.

The company is led by Dean Palmiter (Co-Founder & CEO), former sales leader at NetSuite and Sage with experience scaling the family office vertical, and Daniel Kennedy (Co-Founder & CTO), ex-BCG, who led development of a large-scale data science platform. Nathan Kotler (Head of Investments) brings front-office investing experience from BNY Mellon, Bridgewater, and GenTrust, while Stan Perry (COO) is an accomplished financial technology operator with experience at Broadridge, Vise, and Sodali & Co.

We invested alongside existing partners who share our conviction in the need for modern family office infrastructure.

What they do

Asseta delivers institutional-grade capabilities designed specifically for single and multi-family offices managing complex, multi-jurisdictional structures. The platform provides faster time-to-value than legacy enterprise systems while eliminating the brittleness of stitched-together small business tools and spreadsheets.

Everything is built around the family office operating reality: multiple entities, sophisticated portfolios spanning public and private assets, regulatory and reporting requirements that demand institutional rigor, and teams that need workflow leverage rather than additional headcount.

Why we invested

The broader wealthtech stack is shifting from static systems of record to AI-native, workflow-embedded intelligence. Asseta sits directly in the accounting and reporting flow, where high-quality data is created and reconciled. This is the ideal control point for building durable data capabilities and AI agents over time.‍

As Harsh Govil, Partner, Venture, Investment Team, noted in Forbes: "We see the wider wealthtech ecosystem entering a system-of-intelligence era. Horizontal AI gives everyone speed, but the durable edge comes from going vertical, building data moats and owning a control point inside regulated workflows."    

Most family offices occupy a middle ground that existing software doesn't serve well. They're over-served by monolithic enterprise systems that require massive implementations and underserved by small business accounting tools that can't handle multi-entity complexity. Asseta's native multi-entity design, rapid implementation, and modern interface position it as the natural choice for offices that have outgrown simpler tools and will likely not deploy an enterprise system.

By owning the ledger, workflow, and document layer, Asseta can build auditable AI agents that drive real productivity, from automated posting to reconciliations to close and reporting. Over time, this creates a compounding advantage where more workflow generates better data, which enables smarter agents.

There are tens of thousands of family offices globally managing trillions of dollars. They operate under institutional reporting and regulatory expectations, yet the available tooling reflects an earlier era of wealth management. The team brings the combination of enterprise go-to-market discipline, technical capability, and front-office investing experience needed to credibly serve this market. From our first meetings, it was clear they understood both the technical and operational realities of family office environments.

We're backing Asseta as they define what family office infrastructure looks like for the next decade.

If you’re interested in learning more about Motive Partners, please contact us. Be sure to follow us on LinkedIn for our latest investment news.

^-----

^{Motive Partners is a private investment firm exclusively focused on financial technology and technology enabled business services companies, ranging from early-stage ventures to growth equity and buyout, primarily based in North America and Europe. The firm invests across five primary subsectors: Banking & Payments; Capital Markets; AI, Data & Analytics; Insurance; and Wealth and Asset Management; and Motive Partners portfolio companies benefit from the firm’s fully integrated, proven Investor, Operator, Innovator (IOI) model, which brings together worldclass fintech leaders and capabilities with deep industry knowledge, insight and experience. With offices in New York City, London, and Berlin, Motive Partners delivers differentiated expertise, connectivity, and capabilities to create long-term value in financial technology companies. More information on Motive Partners can be found at www.motivepartners.com.}

^{Through our Venture platform, we focus on the next generation of wealthtech and private markets infrastructure, software that sits at the core of how capital is allocated, monitored, and reported. Family offices are front and center in this shift: they steward trillions in private wealth, are increasingly exposed to illiquid and alternative assets, and yet still run on tooling that was never built for their complexity. We believe this is an important modernization opportunity in financial services.}