F2, an AI platform for private markets, has introduced Institutional Knowledge, a new product designed to convert a firm’s historical deal activity into a structured, proprietary data asset that continuously improves with each transaction underwritten on the F2 platform. This offering aims to help firms leverage decades of past deal history to inform new investment decisions.
Historically, many firms have struggled to harness their extensive deal history for new investment decisions due to inconsistent data, employee turnover, poor documentation, and fragmented institutional memory. Institutional Knowledge addresses this challenge by transforming historical deal records into a queryable repository, allowing firms to evaluate, benchmark, and underwrite new opportunities with greater context.
According to Don Muir, CEO of F2, the significant opportunity for AI in private markets extends beyond workflow automation to compounding intelligence. Muir stated, “Every firm with a decade of deal history is sitting on an enormous latent proprietary data asset. Firms have spent thousands of human hours underwriting deals into IC memos and financial models that capture their best investment judgment. Institutional Knowledge activates that asset. Every deal your firm evaluates now improves the next one you underwrite.”
Institutional Knowledge operates by ingesting historical deal materials, including investment committee (IC) memos, financial models, confidential information memoranda (CIMs), and customer relationship management (CRM) data during onboarding. This information is then structured into a persistent, queryable context graph. As new deals are processed through the F2 platform, they automatically integrate into Institutional Knowledge upon being passed or executed, eliminating the need for manual maintenance.
Key capabilities of the product include identifying similarities between new opportunities and past deals, reviewing the performance of those previous investments, and benchmarking underwriting assumptions against actual outcomes from precedent transactions. It also enables analysis of portfolio-wide exposure, performance, and risk using consistent internal metrics, and can surface patterns such as covenant structures or leverage profiles that preceded underperformance. Users can query the firm’s entire deal history through a global agent that maintains context across all prior work.
F2’s Institutional Knowledge is built on the premise that investor judgment is unique and compounds. It retains firm-specific knowledge and reasoning, allowing investors to apply and evolve their firm’s insights with every model, memo, and presentation. Muir added, “Give your deal teams the pattern recognition of your most experienced MD, and your MDs the throughput of a much larger team. That is what becomes possible when your full deal history is structured, persistently available, and agentically queryable.”
F2 is currently utilized by over 100 enterprises and thousands of professionals across private credit, commercial banking, and private equity for automating workflows in deal screening, diligence, underwriting, and portfolio monitoring. Institutional Knowledge integrates with F2’s Excel-native financial analysis engine and Audit Mode to ensure metrics are accurate, traceable, and informed by precedent. Headquartered in New York City, F2 is supported by investors including NFX, Left Lane Capital, and Y Combinator.
