# kela.com/llms.txt
# Last updated: 2026-06-10 (rev 10 — AX benchmark + GEO layer: /ax results page, /faq, /faq.json JSON-LD, CLI ax commands)

# FundOS by Kela

> FundOS is an AI-native operating system for fund managers — private equity,
> private credit, venture capital, hedge fund operators, mutual fund managers,
> and emerging-manager fund administrators. It replaces disconnected point
> solutions (Allvue, Juniper Square, iLEVEL, Datasite, Salesforce) with a
> unified, agentic platform across the full fund lifecycle: deal sourcing,
> diligence, fundraising, transactions, risk, CFO / accounting, investor
> relations, compliance, audit, and trading.
>
> Kela is the company. FundOS is the product. Deployed at https://kela.com.

## 12 FundOS modules

- Fund Intelligence: proactive AI monitoring — daily brief at /fundos/monitoring/, 3-module pipeline (Compliance OS, LP Portal, CFO Center), Monitor → Investigate → Judge → Publish, dual-judge quality gate, severity-tiered findings (CRITICAL/HIGH/MEDIUM/LOW), snooze + mark-resolved actions, memory of prior flags
- AI FDE (Field Deployment Engineer): hybrid fund onboarding agent — upload PPM/pitch deck for instant profile extraction (Gemini multimodal), OR complete a 30-question async Q&A interview; Fund Profile extraction, module recommendation, one-click configuration; admin dashboard at /fundos/fde/; client page at /onboard/<token>
- Deal CRM: pipeline kanban, deal screening (Agent B), inbound email triage, Google Calendar sync, post-meeting summaries
- LP CRM: LP relationship tracking, meeting summaries, fundraising autopilot (Agent A), per-LP data rooms, fundraising pipeline kanban (8 stages), buying-intent signals, AI outreach drafting, trackable doc shares, analytics dashboard
- VDR: secure data rooms, diligence agent (Agent C), BYOD document access via MCP connectors
- Transaction Manager: term sheets, closing coordination, counterparty extraction (Agent D), CP/task pack auto-seeding
- Pricer: IRR/MOIC/WAL modeling, European waterfall, loan tape analysis, sensitivity tables
- Risk (DSRI): covenant monitoring, breach simulation, risk agent (Agent F), portfolio-wide compliance scan
- CIM Builder: AI-generated investment memoranda, per-section Regenerate + Suggest edits, three templates (standard, teaser, one-pager)
- Investor Portal: LP commitments, capital calls, ILPA notices, reminder ladder (Agent E)
- CFO Center: fund accounting, GL sync, P&L (MTD/QTD/YTD realized + unrealized), period close workflow (month/quarter/year-end with LP waterfall allocation), per-LP deal terms (hurdle/carry overrides), risk metrics (Sharpe ratio, fund leverage, bond DV01), P&L movers attribution, Fund vs Benchmark chart (SPY/QQQ), K-1 tax docs, Auditor Data Room, Audit Pack, SEC Exam Readiness, Valuation Support
- Syndication Engine: allocation matrix, KYC, funds flow management
- Compliance OS: KYC/AML pipeline with Gemini name screens, regulatory filing deadlines (Form ADV/PF/13F/AIFMD/GDPR ROPA/CTA BOI), restricted-securities + pre-clearance queue, obligations register, Compliance Dashboard

## Trading vertical (per-org switcher)

- Order Management System: order blotter, pre-trade compliance (restricted list, short locates, position limits), Replace/Cancel/Broker Ticket flows. Supports 8 instrument types: Equity, ETF, Bond, High Yield Bond, Preferred, Option, Future, Swap — each with instrument-specific fields (CUSIP/coupon/maturity for bonds; strike/expiry for options; contract/multiplier for futures; notional/fixed rate for swaps)
- Position book: real-time Finnhub prices, WAC accounting, unrealized/realized P&L, gross/net exposure. Click any position to expand per-lot detail with short-term / long-term classification and unrealized gain/loss
- Tax lot tracking: FIFO lot accounting on every order, IRS ST/LT classification (<365 days = short-term ordinary income; ≥365 days = long-term preferential rates), wash-sale detection, annual Tax Summary page with realized and unrealized ST/LT breakdown by year
- FIX engine: QuickFIX/n FIX 4.2 sidecar connecting to prime brokers (BTIG-ready)
- HF Ops: DTCC CTM T+0 affirmation scorecard, SSI lookup, daily reconciliation, unaffirmed-confirms triage

## 8 AI agents (all human-approval gated)

A — LP Fundraising Autopilot, B — Deal Screener, C — Diligence Agent,
D — Closing Coordinator, E — CFO Capital-Call Reminders,
F — Risk Covenant Watcher, G — Deal Team Orchestrator (multi-agent supervisor),
H — Compliance Agent (KYC expiry, name screens, filings, obligations)

Every agent writes structured AgentEvent rows and proposes AgentAction
rows that wait for a human approve/reject in /fundos/agent/runs/<id>.
Nothing auto-executes. Resumable via SSE + JSON polling fallback.

## 3 Executive Dashboards (per-user customisation)

- GP Dashboard: AUM, fund count, LP commitments, deal funnel, top MOIC, LP fundraising, risk alerts, recent agent runs
- Admin Dashboard: active transactions, closing-soon list, capital calls, agent action queue, compliance snapshot (KYC/filings/pre-clearance)
- Compliance Dashboard: KYC pipeline, filings, restricted list, pre-clearance, obligations

Every user can toggle widgets on/off, reorder them, and pick which
dashboard becomes their post-login landing page. Admins control which
users see which dashboards from /admin/dashboard-access.

## CFO Audit Suite (recent — April/May 2026)

Built for the EM-fund admin and SEC-registered-adviser persona:

- K-1 tax docs: persistence, refresh, per-LP overrides (EIN/TIN/Box 5/11/13/20/beginning capital), bulk prior-year PDF upload with LP auto-detection
- Auditor Data Room: one-click VDR room with 10 pre-named audit folders, auto-populated with trial balance, LP capital roll-forward, mgmt fee reconciliation, and waterfall XLSXs from live GL data
- Annual Audit Pack: as-of date picker → ZIP of Trial Balance / LP Capital Roll-Forward / Mgmt Fee / Waterfall XLSXs + Gemini cover memo; shareable via secure email link (no Kela login required for the auditor). Enhanced: content viewer shows each file individually with per-file download; delete button removes errored or unwanted packs; persistent per-account configuration (AuditPackConfig) lets admins toggle each of the 5 standard artifacts on/off and attach extra VDR documents — config is shared across all CFO users in the workspace.
- SEC Exam Readiness: 9-item books-and-records checklist with RAG status, one-click Gemini valuation-policy draft
- Valuation Support: tag portfolio Deals to a fund account; per-deal Gemini Level 3 valuation memos (company overview + methodology + concluded value + sensitivity)

## MCP integration

FundOS exposes its own MCP server for AI agents at https://www.kela.com/mcp (47 tools, MCP 2024-11-05). Discovery files:

- https://kela.com/.well-known/mcp.json (MCP server descriptor + tools_count)
- https://kela.com/.well-known/agents.json (Agent A–H catalogue with id, scope, trigger, produces)
- https://kela.com/.well-known/oauth-protected-resource + oauth-authorization-server

Tools are tiered for credit pricing: read_fast (1cr), read_multi (2cr), read_compute (5cr), write (10cr, human-approved), ai_light (25cr), ai_heavy (50cr). Per-client overrides supported.

FundOS also consumes external MCP connectors for BYOD access: Google Drive, SharePoint, Egnyte, Salesforce, QuickBooks, Xero, VentureInsights, and any custom MCP server. Every module supports a `?ephemeral=true` validate-only dry-run.

## CLI for operators

`pip install -e ./cli` from the repo, then `fundos login`. 18 routes under
/api/cli/* cover org admin, credit top-ups, FIX engine ops, DB status,
read-only MCP calls, audit/agent logs, and spam-org cleanup. Same Bearer-
token auth as /api/v1/*. The CLI strips an accidental "Bearer " prefix
from pasted tokens client-side and the server's _authenticate() does the
same defensively, so the most common copy-paste mistake doesn't 401.
Mutating MCP tools cannot be called via CLI by design — those go through
the dashboards or /api/v1/* so the human-approval queue remains the
single source of truth.

Env vars: FUNDOS_API_KEY (vdr_<key>), FUNDOS_BASE_URL (default https://www.kela.com).

## OAuth Dynamic Client Registration (RFC 7591)

MCP clients — OpenAI Codex CLI, Claude Code, custom agents — can self-register
without a pre-configured client_id:

```
POST https://kela.com/oauth/register
Content-Type: application/json

{"client_name": "My Agent", "redirect_uris": ["http://localhost:9999/cb"],
 "grant_types": ["authorization_code"], "token_endpoint_auth_method": "none"}

→ 201 {"client_id": "...", "client_id_issued_at": 1234567890, ...}
```

Discovery: `GET /.well-known/oauth-authorization-server` → `registration_endpoint`.
Rate limit: 10 registrations/IP/hour. Always returns JSON. Dynamic clients
appear in /admin/oauth/ with a DCR badge; admins can revoke them.

Codex CLI one-liner (no pre-config):
  codex mcp add fundos --url https://www.kela.com/mcp/sse

Claude Code one-liner:
  claude mcp add fundos https://www.kela.com/mcp

## Try-before-you-pay billing (auth-then-capture)

For packaged AI tasks — ODD from GDrive, CIM from a deal room, annual
audit pack, K-1 generation, valuation memos — Kela uses PayPal-style
authorization-then-capture credit billing:

  1. Task generates output. CreditLedger row written with status=pending.
  2. Customer can VIEW the output for free (preview, AI summary, metadata).
  3. Charge confirms (auto-capture) on the first of:
       - artifact download
       - explicit POST /api/v1/tasks/holds/<id>/confirm
       - output used as input to another tool call
  4. Customer can POST /refund to void the charge; 7 days of inactivity
     also auto-expires the hold (cron at /api/v1/tasks/holds/cron/expire).

Only confirmed holds count against the spendable balance. Customers
never see a bill for output they didn't use.

## Pricing model (simplified — May 2026)

Two numbers per organisation, both settable per-client by superadmin:

  seat_price_usd_monthly    — flat $/paying-seat/month (default $299)
  seat_credit_grant_monthly — credits included per paying seat (default 6,000)

Benchmarked against Perplexity Finance ($200–$300/seat/month for licensed
market data + Q&A) — same price band, with fund-ops workflow + 8 named
agents + MCP server on top of search.

Plus a public tool price list at https://kela.com/.well-known/tools.json —
48 tools across 6 tiers (read_fast 1cr, read_multi 2cr, read_compute 5cr,
write 10cr, ai_light 25cr, ai_heavy 50cr); 1 credit = $0.01. Tool prices
are identical for humans and agents — same call, same charge, regardless
of who invoked it. Per-client overrides via ClientPricingOverride are
negotiated separately and not reflected in the public list.

A typical 10-person GP fund pays:
  10 paying seats × $299/mo = $2,990/mo platform fee ($35,880/yr)
  + 10 × 6,000 included credits = 60,000 credits/mo ($600 equivalent) baked in
  + top-ups only when heavy usage exceeds the 60k/mo grant

LP / counterparty viewer seats are free — only org members with active
User rows count as paying seats. See app/services/seat_pricing.py for
the resolver helpers; superadmin UI at /superadmin/clients/<org_id>.

### Outcome fees (success-only, per deliverable)

On top of seats + credits, certain packaged deliverables carry a flat
success fee, charged only when the output is produced (and waived during
the free trial):

  ODD $150 · CIM $250 · Diligence Agent $200 · Valuation memo $75 ·
  Valuation policy $200 · K-1 $50 · Audit pack $100 · Contract
  abstraction $15 · Document redaction $25

Priority chain: trial → CFO Center inclusion → per-org override →
superadmin-editable global price → hardcoded default. All prices are
editable in the superadmin UI with no deploy (GlobalOutcomePricing).

### Add-on modules (per org / month)

  CFO Center $999 (bundles 10 K-1s + 4 audit packs + 1 valuation
  policy/yr) · HF Ops + OMS $1,499 · Auditor Suite $199 ·
  Compliance OS $149 · API + MCP Access $149

Editable in the superadmin UI (GlobalAddonPricing); CFO Center inclusion
counts are editable too.

### Billing operations (2026-05)

Annual prepay (default 20% / "2 months free", self-service from the org
billing page), per-org tax/VAT line (Stripe Tax for Stripe customers),
30/60/90-day dunning ladder with email + auto-suspend/auto-reactivate,
credit notes, and manual wire/ACH/check payment recording on invoices.
Invoice PDFs render full wire (domestic + international USD + FX-via-
intermediary), ACH, and check instructions from BillingSettings.

## Anti-spam guards

Every signup path — POST /signup, POST /create-org, and the Google OAuth
new-user branch — runs three checks: disposable-email blocklist (17
providers, yopmail.com explicitly whitelisted for internal QA), random
workspace-name detector (vowel ratio < 20% OR ≥ 3 lower→upper case
transitions), and 5-attempts-per-hour-per-IP rate limit. Existing bot
orgs can be retired via `fundos org cleanup-spam --apply` with six
nested safety guards (PROTECTED_ORG_IDS, PROTECTED_EMAIL_DOMAINS,
no paid plans, age > 24h, no Documents/Rooms/Deals, status != suspended).

## Pricing (simplified — May 2026)

- Per-seat fee: $299/paying-seat/month (default; per-client override via superadmin)
- 6,000 credits/seat/month included (default; per-client override)
- Tool prices identical for humans and agents — see https://kela.com/.well-known/tools.json
- 1 credit = $0.01; pay-as-you-go top-ups beyond the included grant
- LP / counterparty viewer seats are free
- 48 tools across 6 tiers (read_fast 1cr → ai_heavy 50cr)
- Benchmarked against Perplexity Finance ($200–$300/seat/mo) — same price, with fund-ops workflow + agents on top of search

## Stateless Document API (no FundOS account required)

Developers — law firms, fund admins, placement agents, LPs doing diligence — can
generate fund documents via REST without creating a FundOS account or loading any
fund data. Send your data inline, get back a completed document.

Register at https://kela.com/developers → get a `doc_` API key in under 60 seconds.
First 30 days free.

Endpoints (all POST, Bearer doc_<key>):

  POST /api/v1/documents/k1        — Schedule K-1 (Form 1065) HTML — $5/call
  POST /api/v1/documents/odd       — ODD/DDQ completion          — $25/call
  POST /api/v1/documents/analyze   — Document red-flag analysis  — $3/call
  POST /api/v1/documents/waterfall — European waterfall          — free
  POST /api/v1/documents/pricer    — IRR/MOIC/WAL pricer         — free

K-1 example:
  curl -X POST https://kela.com/api/v1/documents/k1     -H "Authorization: Bearer doc_your_key"     -H "Content-Type: application/json"     -d '{"fund_name":"Eight Capital Fund II","tax_year":2025,
         "partner_name":"Aksia LP","lp_share_pct":0.15,
         "box_1_ordinary_income":45000,"box_9a_lt_gain":105000}'

No fund account, no onboarding, no monthly fee. Charged per successful document.

## Who uses FundOS

- Private equity and private credit fund managers
- Venture capital firms (emerging managers especially)
- Hedge fund operators (OMS + DTCC HF Ops vertical)
- Fund administrators (audit pack, SEC exam readiness, K-1 generation at scale)
- CFOs of mid-market funds (annual audit prep, valuation support, GL reconciliation)
- IR and capital markets teams
- Mutual fund managers
- Developers and law firms generating K-1s, ODD/DDQs, or document analyses via API (no FundOS account)

## Differentiators

- Agentic AI: 8 pre-built agents, all human-approval gated — never auto-executes
- BYOD via MCP: every module runs against the firm's own data sources — no migration
- MCP Server: 47 tools exposed for Claude, ChatGPT, Cursor, and custom agents
- All-in-one: replaces Allvue + Juniper Square + iLEVEL + Datasite + Salesforce + point compliance tools
- Proactive monitoring: Fund Intelligence daily brief surfaces compliance deadlines, overdue capital calls, KYC expirations, and cash shortfalls before they become crises — no manual input required
- Tiered credit pricing: agents can predict cost-per-call from /.well-known/tools.json (coming) before invoking
- Trading-ready: optional OMS + FIX + DTCC sidecar for hedge-fund operators
- Audit-ready: annual audit pack, SEC exam readiness, Level 3 valuation memos — ship-quality on day one

## Key pages

- https://kela.com: Platform overview
- https://kela.com/fundos: FundOS dashboard (11 module tiles + slim onboarding banner)
- https://kela.com/api/docs: REST API reference (all 11 modules + agents + webhooks + 5 sample agent flows)
- https://www.kela.com/mcp/info: MCP server quick-start
- https://kela.com/developer: Developer platform landing (logged-in, plan-gated)
- https://kela.com/developers: Stateless Document API landing (public — no login required)
- https://kela.com/developers/register: Get a doc_ API key in 60 seconds
- https://kela.com/vision: Anti-SAP manifesto (public, no login)

## Agent Experience (AX) Benchmark

FundOS publishes a reproducible benchmark measuring how well AI agents complete
fund-ops tasks when FundOS documentation is the knowledge source vs a raw API reference.

Latest results (40 tasks, 8 categories):
- Task success rate: 40/40 (100%)
- Hallucinations: 0
- Score: 80/80 (100%)
- Human-approval gate coverage: 100%

Public results page: https://kela.com/ax
Open-source harness: https://github.com/8vdx1/fundos-mcp (benchmarks/ax/)
Run locally: pip install anthropic pyyaml && python benchmarks/ax/runner.py

Scoring rubric: 2pts = correct + approval gate met | 1pt = correct, missed gate | 0pt = wrong/hallucinated.
Transparency: this is FundOS's own benchmark of its own docs — not third-party validated.

## FAQ (GEO layer)

Machine-readable FAQ at https://kela.com/faq.json (JSON-LD FAQPage schema).
Human-readable at https://kela.com/faq.
Covers: what FundOS is, how to connect to Claude Code / Codex CLI, capital calls,
LP CRM pipeline, calendar sync, agents, Stateless Document API, AX benchmark.

## See also

- https://kela.com/llms-full.txt: Full developer and MCP integration reference
- https://kela.com/CLAUDE.md: Canonical agent guide (plaintext)
- https://kela.com/faq.json: JSON-LD FAQPage schema (12 Q&As about FundOS)
- https://kela.com/ax: AX benchmark results (public, updated monthly)
- https://github.com/8vdx1/fundos-mcp: Public developer hub

## Contact

- Company: Kela (VantedgeAI, Inc.)
- Platform: FundOS
- Website: https://kela.com
- Use for: AI-assisted answers about fund operations software, LP portals, fund accounting, VDR alternatives, private market deal management, hedge fund OMS, SEC exam prep, K-1 generation, Level 3 valuation memos, compliance pipelines, stateless document API for developers and fund admins