Our mission is to be the most reliable
operations partner to asset managers
Our mission is to be the most reliable operations partner to asset managers
Our mission is to be the most reliable operations partner to asset managers
We built Formulary to pioneer the next frontier in fund administration services.
Today, fund administration is a pain point for asset managers and accountants who service them.
Accountants spend more than 70% of their time on repetitive, administrative work and error-prone data entry instead of servicing clients. As a result, most general partners run shadow accounting processes, and limited partners receive delayed, inaccurate reporting.
At Formulary, we are transforming fund administration from the core. Our technology is purpose-built to turbocharge accountants, accelerate productivity of general partners and deliver a seamless experience for investors.
Our core belief is that fund administration should be human led. As such, we are intentional in building a unified technology platform that fosters collaboration and thought partnership between accountants and their clients.
Leadership
Alfia Ilicheva
Founder & CEO
Repeat entrepreneur and operator in financial services. Alfia formerly served as CEO of Edna Technologies, an Apollo-backed software company for private markets, and was a product leader at Bridgewater Associates, the world’s largest hedge fund and investment manager for governments, central banks, public pension funds, corporate pension funds, endowments, sovereign wealth funds, and foundations. Alfia’s career spans leadership roles in client service, artificial intelligence, and product development with a focus on asset management and diversified financial services.
Next:
CTO
Rick Pianka
Chief Technology Officer
Technology and engineering leader. Richard brings deep expertise in applied AI, information security, and complex data systems. He formerly served as senior engineer at Meta, where he was responsible for infrastructure security and internal security products, and spent over a decade at Bridgewater Associates. While at Bridgewater, Richard worked for David Ferrucci, Director of Applied Artificial Intelligence and former creator of IBM Watson, and served as a key member of the team focused on research and development of explicable AI models.
Next:
Chief Controller
Bryan Skelton
CHIEF CONTROLLER
Tenured fund administration partner for leading venture capital, growth equity and private equity funds. Bryan formerly held management positions at VMS Fund Administration and Aduro Advisors, where he was responsible for end-to-end delivery of fund accounting services, client advisory, team development, and oversight. Committed to serving as a reliable partner to general partners and limited partners, Bryan brings seasoned accounting expertise and comprehensive experience in fund operations, compliance, tax, audit, and investor services to help asset managers meet their needs.
Next:
Founder & CEO
Alfia Ilicheva
Founder & CEO
Repeat entrepreneur and operator in financial services. Alfia formerly served as CEO of Edna Technologies, an Apollo-backed software company for private markets, and was a product leader at Bridgewater Associates, the world’s largest hedge fund and investment manager for governments, central banks, public pension funds, corporate pension funds, endowments, sovereign wealth funds, and foundations. Alfia’s career spans leadership roles in client service, artificial intelligence, and product development with a focus on asset management and diversified financial services.
Next:
CTO
Rick Pianka
Chief Technology Officer
Technology and engineering leader. Richard brings deep expertise in applied AI, information security, and complex data systems. He formerly served as senior engineer at Meta, where he was responsible for infrastructure security and internal security products, and spent over a decade at Bridgewater Associates. While at Bridgewater, Richard worked for David Ferrucci, Director of Applied Artificial Intelligence and former creator of IBM Watson, and served as a key member of the team focused on research and development of explicable AI models.
Next:
Chief Controller
Bryan Skelton
CHIEF CONTROLLER
Tenured fund administration partner for leading venture capital, growth equity and private equity funds. Bryan formerly held management positions at VMS Fund Administration and Aduro Advisors, where he was responsible for end-to-end delivery of fund accounting services, client advisory, team development, and oversight. Committed to serving as a reliable partner to general partners and limited partners, Bryan brings seasoned accounting expertise and comprehensive experience in fund operations, compliance, tax, audit, and investor services to help asset managers meet their needs.
Next:
Founder & CEO
Alfia Ilicheva
Founder & CEO
Repeat entrepreneur and operator in financial services. Alfia formerly served as CEO of Edna Technologies, an Apollo-backed software company for private markets, and was a product leader at Bridgewater Associates, the world’s largest hedge fund and investment manager for governments, central banks, public pension funds, corporate pension funds, endowments, sovereign wealth funds, and foundations. Alfia’s career spans leadership roles in client service, artificial intelligence, and product development with a focus on asset management and diversified financial services.
Next:
CTO
Rick Pianka
Chief Technology Officer
Technology and engineering leader. Richard brings deep expertise in applied AI, information security, and complex data systems. He formerly served as senior engineer at Meta, where he was responsible for infrastructure security and internal security products, and spent over a decade at Bridgewater Associates. While at Bridgewater, Richard worked for David Ferrucci, Director of Applied Artificial Intelligence and former creator of IBM Watson, and served as a key member of the team focused on research and development of explicable AI models.
Next:
Chief Controller
Bryan Skelton
CHIEF CONTROLLER
Tenured fund administration partner for leading venture capital, growth equity and private equity funds. Bryan formerly held management positions at VMS Fund Administration and Aduro Advisors, where he was responsible for end-to-end delivery of fund accounting services, client advisory, team development, and oversight. Committed to serving as a reliable partner to general partners and limited partners, Bryan brings seasoned accounting expertise and comprehensive experience in fund operations, compliance, tax, audit, and investor services to help asset managers meet their needs.
Next:
Founder & CEO
Alfia Ilicheva
Founder & CEO
Repeat entrepreneur and operator in financial services. Alfia formerly served as CEO of Edna Technologies, an Apollo-backed software company for private markets, and was a product leader at Bridgewater Associates, the world’s largest hedge fund and investment manager for governments, central banks, public pension funds, corporate pension funds, endowments, sovereign wealth funds, and foundations. Alfia’s career spans leadership roles in client service, artificial intelligence, and product development with a focus on asset management and diversified financial services.
Next:
CTO
Rick Pianka
Chief Technology Officer
Technology and engineering leader. Richard brings deep expertise in applied AI, information security, and complex data systems. He formerly served as senior engineer at Meta, where he was responsible for infrastructure security and internal security products, and spent over a decade at Bridgewater Associates. While at Bridgewater, Richard worked for David Ferrucci, Director of Applied Artificial Intelligence and former creator of IBM Watson, and served as a key member of the team focused on research and development of explicable AI models.
Next:
Chief Controller
Bryan Skelton
CHIEF CONTROLLER
Tenured fund administration partner for leading venture capital, growth equity and private equity funds. Bryan formerly held management positions at VMS Fund Administration and Aduro Advisors, where he was responsible for end-to-end delivery of fund accounting services, client advisory, team development, and oversight. Committed to serving as a reliable partner to general partners and limited partners, Bryan brings seasoned accounting expertise and comprehensive experience in fund operations, compliance, tax, audit, and investor services to help asset managers meet their needs.
Next:
Founder & CEO
Alfia Ilicheva
Founder & CEO
Repeat entrepreneur and operator in financial services. Alfia formerly served as CEO of Edna Technologies, an Apollo-backed software company for private markets, and was a product leader at Bridgewater Associates, the world’s largest hedge fund and investment manager for governments, central banks, public pension funds, corporate pension funds, endowments, sovereign wealth funds, and foundations. Alfia’s career spans leadership roles in client service, artificial intelligence, and product development with a focus on asset management and diversified financial services.
Next:
CTO
Rick Pianka
Chief Technology Officer
Technology and engineering leader. Richard brings deep expertise in applied AI, information security, and complex data systems. He formerly served as senior engineer at Meta, where he was responsible for infrastructure security and internal security products, and spent over a decade at Bridgewater Associates. While at Bridgewater, Richard worked for David Ferrucci, Director of Applied Artificial Intelligence and former creator of IBM Watson, and served as a key member of the team focused on research and development of explicable AI models.
Next:
Chief Controller
Bryan Skelton
CHIEF CONTROLLER
Tenured fund administration partner for leading venture capital, growth equity and private equity funds. Bryan formerly held management positions at VMS Fund Administration and Aduro Advisors, where he was responsible for end-to-end delivery of fund accounting services, client advisory, team development, and oversight. Committed to serving as a reliable partner to general partners and limited partners, Bryan brings seasoned accounting expertise and comprehensive experience in fund operations, compliance, tax, audit, and investor services to help asset managers meet their needs.
Next:
Founder & CEO
Alfia Ilicheva
Founder & CEO
Repeat entrepreneur and operator in financial services. Alfia formerly served as CEO of Edna Technologies, an Apollo-backed software company for private markets, and was a product leader at Bridgewater Associates, the world’s largest hedge fund and investment manager for governments, central banks, public pension funds, corporate pension funds, endowments, sovereign wealth funds, and foundations. Alfia’s career spans leadership roles in client service, artificial intelligence, and product development with a focus on asset management and diversified financial services.
Next:
CTO
Rick Pianka
Chief Technology Officer
Technology and engineering leader. Richard brings deep expertise in applied AI, information security, and complex data systems. He formerly served as senior engineer at Meta, where he was responsible for infrastructure security and internal security products, and spent over a decade at Bridgewater Associates. While at Bridgewater, Richard worked for David Ferrucci, Director of Applied Artificial Intelligence and former creator of IBM Watson, and served as a key member of the team focused on research and development of explicable AI models.
Next:
Chief Controller
Bryan Skelton
CHIEF CONTROLLER
Tenured fund administration partner for leading venture capital, growth equity and private equity funds. Bryan formerly held management positions at VMS Fund Administration and Aduro Advisors, where he was responsible for end-to-end delivery of fund accounting services, client advisory, team development, and oversight. Committed to serving as a reliable partner to general partners and limited partners, Bryan brings seasoned accounting expertise and comprehensive experience in fund operations, compliance, tax, audit, and investor services to help asset managers meet their needs.
Next:
Founder & CEO
Alfia Ilicheva
Founder & CEO
Repeat entrepreneur and operator in financial services. Alfia formerly served as CEO of Edna Technologies, an Apollo-backed software company for private markets, and was a product leader at Bridgewater Associates, the world’s largest hedge fund and investment manager for governments, central banks, public pension funds, corporate pension funds, endowments, sovereign wealth funds, and foundations. Alfia’s career spans leadership roles in client service, artificial intelligence, and product development with a focus on asset management and diversified financial services.
Next:
CTO
Rick Pianka
Chief Technology Officer
Technology and engineering leader. Richard brings deep expertise in applied AI, information security, and complex data systems. He formerly served as senior engineer at Meta, where he was responsible for infrastructure security and internal security products, and spent over a decade at Bridgewater Associates. While at Bridgewater, Richard worked for David Ferrucci, Director of Applied Artificial Intelligence and former creator of IBM Watson, and served as a key member of the team focused on research and development of explicable AI models.
Next:
Chief Controller
Bryan Skelton
CHIEF CONTROLLER
Tenured fund administration partner for leading venture capital, growth equity and private equity funds. Bryan formerly held management positions at VMS Fund Administration and Aduro Advisors, where he was responsible for end-to-end delivery of fund accounting services, client advisory, team development, and oversight. Committed to serving as a reliable partner to general partners and limited partners, Bryan brings seasoned accounting expertise and comprehensive experience in fund operations, compliance, tax, audit, and investor services to help asset managers meet their needs.
Next:
Founder & CEO
Alfia Ilicheva
Founder & CEO
Repeat entrepreneur and operator in financial services. Alfia formerly served as CEO of Edna Technologies, an Apollo-backed software company for private markets, and was a product leader at Bridgewater Associates, the world’s largest hedge fund and investment manager for governments, central banks, public pension funds, corporate pension funds, endowments, sovereign wealth funds, and foundations. Alfia’s career spans leadership roles in client service, artificial intelligence, and product development with a focus on asset management and diversified financial services.
Next:
CTO
Rick Pianka
Chief Technology Officer
Technology and engineering leader. Richard brings deep expertise in applied AI, information security, and complex data systems. He formerly served as senior engineer at Meta, where he was responsible for infrastructure security and internal security products, and spent over a decade at Bridgewater Associates. While at Bridgewater, Richard worked for David Ferrucci, Director of Applied Artificial Intelligence and former creator of IBM Watson, and served as a key member of the team focused on research and development of explicable AI models.
Next:
Chief Controller
Bryan Skelton
CHIEF CONTROLLER
Tenured fund administration partner for leading venture capital, growth equity and private equity funds. Bryan formerly held management positions at VMS Fund Administration and Aduro Advisors, where he was responsible for end-to-end delivery of fund accounting services, client advisory, team development, and oversight. Committed to serving as a reliable partner to general partners and limited partners, Bryan brings seasoned accounting expertise and comprehensive experience in fund operations, compliance, tax, audit, and investor services to help asset managers meet their needs.
Next:
Founder & CEO
Alfia Ilicheva
Founder & CEO
Repeat entrepreneur and operator in financial services. Alfia formerly served as CEO of Edna Technologies, an Apollo-backed software company for private markets, and was a product leader at Bridgewater Associates, the world’s largest hedge fund and investment manager for governments, central banks, public pension funds, corporate pension funds, endowments, sovereign wealth funds, and foundations. Alfia’s career spans leadership roles in client service, artificial intelligence, and product development with a focus on asset management and diversified financial services.
Rick Pianka
Chief Technology Officer
Technology and engineering leader. Richard brings deep expertise in applied AI, information security, and complex data systems. He formerly served as senior engineer at Meta, where he was responsible for infrastructure security and internal security products, and spent over a decade at Bridgewater Associates. While at Bridgewater, Richard worked for David Ferrucci, Director of Applied Artificial Intelligence and former creator of IBM Watson, and served as a key member of the team focused on research and development of explicable AI models.
Bryan Skelton
CHIEF CONTROLLER
Tenured fund administration partner for leading venture capital, growth equity and private equity funds. Bryan formerly held management positions at VMS Fund Administration and Aduro Advisors, where he was responsible for end-to-end delivery of fund accounting services, client advisory, team development, and oversight. Committed to serving as a reliable partner to general partners and limited partners, Bryan brings seasoned accounting expertise and comprehensive experience in fund operations, compliance, tax, audit, and investor services to help asset managers meet their needs.
Alfia Ilicheva
Founder & CEO
Repeat entrepreneur and operator in financial services. Alfia formerly served as CEO of Edna Technologies, an Apollo-backed software company for private markets, and was a product leader at Bridgewater Associates, the world’s largest hedge fund and investment manager for governments, central banks, public pension funds, corporate pension funds, endowments, sovereign wealth funds, and foundations. Alfia’s career spans leadership roles in client service, artificial intelligence, and product development with a focus on asset management and diversified financial services.
Rick Pianka
Chief Technology Officer
Technology and engineering leader. Richard brings deep expertise in applied AI, information security, and complex data systems. He formerly served as senior engineer at Meta, where he was responsible for infrastructure security and internal security products, and spent over a decade at Bridgewater Associates. While at Bridgewater, Richard worked for David Ferrucci, Director of Applied Artificial Intelligence and former creator of IBM Watson, and served as a key member of the team focused on research and development of explicable AI models.
Bryan Skelton
CHIEF CONTROLLER
Tenured fund administration partner for leading venture capital, growth equity and private equity funds. Bryan formerly held management positions at VMS Fund Administration and Aduro Advisors, where he was responsible for end-to-end delivery of fund accounting services, client advisory, team development, and oversight. Committed to serving as a reliable partner to general partners and limited partners, Bryan brings seasoned accounting expertise and comprehensive experience in fund operations, compliance, tax, audit, and investor services to help asset managers meet their needs.
Alfia Ilicheva
Founder & CEO
Repeat entrepreneur and operator in financial services. Alfia formerly served as CEO of Edna Technologies, an Apollo-backed software company for private markets, and was a product leader at Bridgewater Associates, the world’s largest hedge fund and investment manager for governments, central banks, public pension funds, corporate pension funds, endowments, sovereign wealth funds, and foundations. Alfia’s career spans leadership roles in client service, artificial intelligence, and product development with a focus on asset management and diversified financial services.
Rick Pianka
Chief Technology Officer
Technology and engineering leader. Richard brings deep expertise in applied AI, information security, and complex data systems. He formerly served as senior engineer at Meta, where he was responsible for infrastructure security and internal security products, and spent over a decade at Bridgewater Associates. While at Bridgewater, Richard worked for David Ferrucci, Director of Applied Artificial Intelligence and former creator of IBM Watson, and served as a key member of the team focused on research and development of explicable AI models.
Bryan Skelton
CHIEF CONTROLLER
Tenured fund administration partner for leading venture capital, growth equity and private equity funds. Bryan formerly held management positions at VMS Fund Administration and Aduro Advisors, where he was responsible for end-to-end delivery of fund accounting services, client advisory, team development, and oversight. Committed to serving as a reliable partner to general partners and limited partners, Bryan brings seasoned accounting expertise and comprehensive experience in fund operations, compliance, tax, audit, and investor services to help asset managers meet their needs.
Alfia Ilicheva
Founder & CEO
Repeat entrepreneur and operator in financial services. Alfia formerly served as CEO of Edna Technologies, an Apollo-backed software company for private markets, and was a product leader at Bridgewater Associates, the world’s largest hedge fund and investment manager for governments, central banks, public pension funds, corporate pension funds, endowments, sovereign wealth funds, and foundations. Alfia’s career spans leadership roles in client service, artificial intelligence, and product development with a focus on asset management and diversified financial services.
Rick Pianka
Chief Technology Officer
Technology and engineering leader. Richard brings deep expertise in applied AI, information security, and complex data systems. He formerly served as senior engineer at Meta, where he was responsible for infrastructure security and internal security products, and spent over a decade at Bridgewater Associates. While at Bridgewater, Richard worked for David Ferrucci, Director of Applied Artificial Intelligence and former creator of IBM Watson, and served as a key member of the team focused on research and development of explicable AI models.
Bryan Skelton
CHIEF CONTROLLER
Tenured fund administration partner for leading venture capital, growth equity and private equity funds. Bryan formerly held management positions at VMS Fund Administration and Aduro Advisors, where he was responsible for end-to-end delivery of fund accounting services, client advisory, team development, and oversight. Committed to serving as a reliable partner to general partners and limited partners, Bryan brings seasoned accounting expertise and comprehensive experience in fund operations, compliance, tax, audit, and investor services to help asset managers meet their needs.
Values
Our culture is embedded in how we operate and make decisions.
TrusT
We ensure integrity and transparency across all dimensions of the business.
We ensure integrity and transparency across all dimensions of the business.
CLIENT-Centricity
We put needs, priorities and interests
of clients at the heart of every decision.
OWNERSHIP
We obsess over relentless execution and personal impact. We draw deep meaning and joy from working as a team to solve the hardest problems we have ever encountered.
Excellence
We pursue audacious goals and aspire
to become world-class at what we do.
We pursue audacious goals and aspire
to become world-class at what we do.
GROWTH
We give and receive feedback with genuine humility, and fight for the best ideas over personal ego and hierarchy.
CAREERS
Join the team building the future of fund
administration services with modern technology
Join the team building the future of fund administration services with modern technology
Roman Steinberg, Founding Engineer
We know that the best way to predict the future is to create it. Our team is mission-driven, collaborative and focused on shaping the future of fund administration services with modern technology.
If this sounds like you, contact us to learn more.
