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73 Strings has acquired Callisto, adding the Paris-based AI fintech team to its business.
Both companies develop software for private markets, where investors and fund managers face growing data volumes, more complex reporting and faster due diligence demands. The acquisition is part of 73 Strings' broader investment in AI, product and engineering as it expands its platform for alternative asset managers.
Callisto builds software that automates parts of private markets workflows, including due diligence, data room analysis, investment documentation and due diligence questionnaires. Its technology is designed to work with the financial documents, spreadsheets and internal datasets used by private equity and private credit firms.
Under the deal, Callisto's AI engineers will join the 73 Strings product organisation. Founders Charles Farhat and William Profit have been appointed Co-Heads of AI Product and will report to Chief Product Officer Matt Storey.
73 Strings plans to use Callisto's technology to expand its valuation, extraction and monitoring products, allowing AI agents to access data and carry out defined workflows. This work will focus on systems built around the Model Context Protocol, while retaining a deterministic valuation engine and human oversight in valuation decisions.
The first area of development will be simulation tools within 73 Intelligence, the group's core platform. The company said this will let clients model how portfolios, valuations and fund-level outcomes change under different macroeconomic and market assumptions, with results produced faster than through existing manual processes.
The focus reflects a broader shift in private markets technology away from historical reporting and towards scenario analysis and workflow automation. Fund managers have been increasing spending on software that standardises data, supports valuation processes and reduces manual work across investment teams.
"Our ambition is simple: to be the infrastructure private capital runs on. That means AI at the core of the platform, and the people who can build it - shipping new features fast, and at the enterprise-grade standard our industry operates at," said Yann Magnan, Co-Founder and Chief Executive Officer of 73 Strings.
"Callisto is the latest expression of that ambition. Charles and William have built one of the strongest private-capital-focused AI teams in Europe, and they now lead AI Product for the deepest data and workflow asset in private markets," Magnan said.
Growth push
The acquisition comes as 73 Strings has also expanded hiring. Over the past quarter, it recruited senior engineering and product leaders in response to demand across private markets.
73 Strings sells valuation and portfolio intelligence software to alternative asset managers across private equity, private credit, infrastructure and venture capital. It said its clients represent USD $20 trillion in assets under management, including nine of the 10 largest private capital firms globally.
Founded in France in 2020, the company is now headquartered in New York, with offices across the US, Europe, the Middle East, India and Singapore. It raised USD $55 million in a Series B funding round in 2025 led by Growth Equity at Goldman Sachs Alternatives, with backing from Blackstone Innovations Investments and participation from Golub Capital, Hamilton Lane, Broadhaven Capital and 7RIDGE.
Paris-based Callisto says it works with European private equity and private credit firms representing more than USD $200 billion in assets under management. Its platform is designed to structure and connect internal and external datasets used throughout the investment lifecycle.
Profit and Farhat said the rationale for the combination was to bring structured data and AI tools together on one platform for asset managers.
"We founded Callisto on a simple conviction: asset managers can only unlock the full value of AI once their data lives in a structured, single source of truth. That digital layer is what makes AI-native products and agents possible, and it's what will allow asset managers to scale as private markets open up to retail investors," said William Profit and Charles Farhat, Co-Founders of Callisto.
"Joining 73 Strings gives us the opportunity to combine that technology with deep private markets expertise and global scale, accelerating our shared vision for how AI can transform investment workflows for private markets firms of all sizes and strategies," Profit said.
Investor backing
The deal also drew support from one of 73 Strings' backers. Jade Mandel, Managing Director at Goldman Sachs Alternatives, said the acquisition reflects a strategy that combines internal investment with selective mergers and acquisitions.
"73 Strings has demonstrated a clear commitment to investing in the technology and talent required to build the next generation of private markets infrastructure," said Jade Mandel, Managing Director at Goldman Sachs Alternatives.
"The acquisition of Callisto is a strong example of that strategy in action, adding differentiated AI capabilities while demonstrating a thoughtful approach to using both organic investment and strategic M&A to accelerate growth," Mandel said.