The firm sits at the centre of developments in the way alternative investments data is collected, processed and reported for wealth managers and other players in what is a growing field.

Canoe Intelligence, a financial technology company powering alternative investment intelligence, has launched Canoe Labs, an incubator where investment and operations professionals can bring new AI capabilities to life.

The “lab” operates as a “collaborative innovation centre,” offering direct access to a stream of emerging AI capabilities before they reach the broader market, the US-headquartered firm said in a statement late last week. The lab works via real-time user engagement so that Canoe can refine available capabilities.

Initial capabilities that can be tested include AI-Powered Document Summarization – transforming lengthy fund documents into concise, actionable summaries, and Real-Time Language Translation, cutting through language barriers across global portfolios by translating fund documents in foreign languages into English. 

"Every breakthrough in Canoe Labs emerges from real pain points our clients face daily," Zack Helgeson, head of product at Canoe Intelligence, said. 

Canoe Labs is powered by Canoe AI, the company's proprietary technical architecture.

Select attendees at the Future Proof Festival in Huntington Beach, California, taking place from 7 to 10 September, will receive a first look at Canoe Labs' capabilities. 

Canoe operates in eight countries and 31 US states, serving 425 clients across more than two dozen countries. 

As reported in mid-August, Dennis Mangalindan, a former senior figure at SEI Archway for more than 14 years, became senior director of sales at Canoe Intelligence. He leads the institutional and family office teams. In March this year, New York-headquartered Canoe launched Canoe Pro Tech: Asset Data PrimePlus in partnership with Prime Buchholz, an investment advisory and outsourced chief investment officer firm.

The business of collecting, processing and reporting on investments in alternative areas such as private equity, hedge funds and real estate has expanded rapidly as capital has flowed into these areas over the past two decades.