Human-led expertise. Tech-enabled oversight. We run the operational machinery so you can focus on generating returns. Governance, controls, risk, treasury, reporting - all handled through a hybrid model that combines manual expertise with automated on-chain workflows. The efficiency gains are measurable. We call them Operational Alpha.
HCP's Operating Layer is built on manual expertise with tech-enabled automated oversight. Governance decisions, regulatory filings, and client relationships are handled by experienced professionals with Big 4 and prime brokerage backgrounds. Technology supports and enhances - it does not replace - proven processes.
Investors can onboard through both traditional fiat channels (bank transfers) and stablecoin rails - both resulting in tokenised, auditable fund units on-chain. NAV calculations, fee extractions, compliance triggers, and share equalisation run deterministically through Fume's on-chain protocol, while governance decisions remain with experienced professionals.
Fume's protocol enables automated NAV calculation, tokenised share issuance, and deterministic compliance checks. Smart contracts handle subscriptions, redemptions, and fee extraction. Every transaction produces an immutable audit trail. Technology is optional, compliant with regulatory standards, and supports rather than replaces proven processes.
AUM, cash positions, compliance flags, investor activity - visible in one place, updated continuously. Your CFO and your auditor see the same numbers at the same time. Reporting output matches the format a traditional allocator's ODD team expects to see.
Compliance checks fire automatically when a subscription comes in. Risk monitoring runs continuously. Alerts fire before breaches, not after. Custody coordination and reporting built to be audit-ready.
The platform handles mandates from launch stage to multi-vehicle platforms. Same infrastructure, same controls, same audit quality. Whether you are launching a new fund, restructuring an existing vehicle, or outsourcing ongoing operations - the operating layer scales with you.
Digital Assets Fund I
USD 65M digital assets fund, positions spread across 5 exchanges and 3 custodians. NAV took two weeks to calculate. Audit prep was a fire drill every quarter. Traditional allocators wouldn't touch it until the operations looked institutional.
We brought in Fume's on-chain fund administration protocol, deployed through a leading digital assets fund administrator. All exchange and custody accounts feed into one system. NAV is calculated via smart contracts with real-time pricing. Reconciliation is automatic. The reporting output is the same format a traditional allocator's ODD team expects to see. Investors can subscribe through both fiat and stablecoin channels - both producing tokenised, auditable fund units.
European Growth Partners
EUR 400M PE fund, 15 portfolio companies, and the entire operation running on spreadsheets. Capital calls took three weeks. Investor reporting happened quarterly if the team wasn't firefighting. Four full-time ops staff, all doing manual work.
Together with our strategic partners in Singapore, Luxembourg, and the DIFC, we deployed an operating layer that combines manual expert oversight with automated workflows. Capital calls, portfolio company reporting consolidation, and LP dashboards all run through the hybrid model. Waterfall calculations, carried interest tracking, and regulatory filings are automated - while governance decisions and client relationships remain with experienced professionals.
Constellation Asset Management
25 underlying managers - hedge funds, PE, real assets - each with different reporting formats, NAV cycles, and data feeds. Monthly close took 45 days. The reconciliation was, frankly, a mess.
We built a data aggregation layer that normalises inputs from all 25 managers into a single format. Look-through reporting runs automatically. Risk analytics are consolidated. Exposure monitoring is real-time across the entire platform. Monthly close went from 45 days to 12. The human-led oversight ensures that every data point is validated by experienced professionals before it reaches the client.
The Operating Layer covers governance frameworks, internal controls, risk management, treasury operations, and reporting cadence. It is the operational backbone that fund managers need but rarely want to build themselves. HCP delivers it through a hybrid model of manual expert oversight and tech-enabled automated workflows.
The hybrid model combines experienced professionals handling governance decisions, regulatory filings, and client relationships with automated smart contract execution for NAV calculations, fee extractions, compliance triggers, and share equalisation. Technology supports rather than replaces proven processes.
Yes. HCP can onboard existing fund vehicles and migrate their operational backbone to the HCP Operating Layer. This includes transitioning governance, controls, reporting, and administration without disrupting the fund's investment activities or investor relationships.
HCP provides institutional-standard reporting including NAV statements, investor allocation reports, compliance dashboards, treasury summaries, and audit-ready documentation. Reporting frequency and format are tailored to each mandate's requirements and LP expectations.
We scope every mandate individually. No templated pitches, no obligation.
Explore our thought leadership on this topic
