Formulary

Overview

Formulary Financial is a fund administration platform based in New York that provides services to asset managers[1]. The company describes itself as AI-native and delivers real-time insights for general partners and limited partners[2]. Its service offerings include fund accounting, investor services, technology solutions, and regulatory and compliance support[1][3]. Formulary emerged from stealth in 2024 with $4.6 million in seed funding led by Khosla Ventures, with participation from Acrew Capital, Company Ventures, Human Ventures, Serena Ventures and Alumni Ventures[4]. The company is led by founder and CEO Alfia Ilicheva, formerly CEO of Edna Technologies and a product leader at Bridgewater Associates, alongside CTO Rick Pianka, a former senior engineer at Meta and Bridgewater, and Chief Controller Bryan Skelton[6]. Formulary is headquartered at 335 Madison Avenue, 7th Floor in New York[5].

Formulary Financial lists its address as 335 Madison Avenue, 7th Floor, New York, NY 10017, phone +1 (203) 465 6556. [5]

Formulary's services cover fund accounting (accounting, reporting, GP services, treasury), investor services (capital activity, LP inquiries, reporting), technology solutions (self-administration, office of the CFO, advisory) and regulatory and compliance (audit, compliance, tax). [9]

Funding history

Formulary Financial emerged from stealth with $4.6 million in seed funding led by Khosla Ventures, with participation from Acrew Capital, Company Ventures, Human Ventures, Serena Ventures and Alumni Ventures. [4]

Growth & traction

Formulary Financial is led by founder and CEO Alfia Ilicheva, formerly CEO of Apollo-backed Edna Technologies and a product leader at Bridgewater Associates, CTO Rick Pianka, a former senior engineer at Meta and Bridgewater, and Chief Controller Bryan Skelton, previously of VMS Fund Administration and Aduro Advisors. [6]