daappa / daappa Core
daappa Core

A transaction-management engine for
private markets complexity.

daappa Core is a transaction-management engine with an integrated general ledger, not just an accounting platform. Built for full-stack managers, asset owners and fund administrators who need real depth: partnership and corporate fund accounting, asset and fund valuations, and NAV for both partnership and corporate (retail) fund structures, across PE, debt, real assets and hybrid funds.

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What Core covers
Fund, portfolio, and capital accounting across all private asset classes
Partnership and corporate fund structures including LP, trust, corporate, FoF, SPVs
Automated general ledger with GAAP and IFRS support
Investor servicing, CRM, and LP reporting with mail merge
Valuations with algorithmic, manual, and what-if modelling
Pipeline, deal, and portfolio management from sourcing to exit
Statutory and regulatory reporting including IFRS9, FATCA, CRS, BCL, INREV
Cloud-hosted on Microsoft Azure, ISO 27001 certified

Core is daappa's fund accounting engine. It handles your back-office operations end to end. For the intelligence layer above it -- data extraction, NAV oversight, portfolio analytics, and investor portal -- see daappa Studio+. The two connect directly when you need both.

See daappa Studio+
Who Core is for

Built for firms that run the back office themselves

Core is a transaction-management engine for full-stack managers, asset owners and fund administrators who run their middle and back office in-house, or on behalf of others. One transaction model drives the general ledger, valuations, investor servicing and reporting, across both partnership and corporate (retail) fund structures.

Primary audience
01
Fund Administrators
Boutique and mid-sized fund administrators servicing PE, private debt, real estate, and hybrid fund clients. Particularly strong in Luxembourg, the Channel Islands, and with development finance institutions. Core provides the accounting engine; you deliver the service.
02
In-house Fund Managers
GPs, VCs, and asset managers that have kept fund accounting and administration in-house rather than outsourcing. Typically managing multiple funds across PE, debt, or real asset strategies, often on spreadsheets or basic systems that no longer scale.
03
Development Banks
Development finance institutions managing complex investment mandates, impact reporting obligations, and multi-jurisdictional regulatory requirements. daappa has active development bank clients across Europe and the Middle East.
Not sure if Core is right for you?
If you have outsourced your fund accounting to an administrator and need the intelligence and reporting layer above it, you may need Studio+ rather than Core. Use the Explorer to find what fits you.
Inside daappa Core

See the platform

daappa Core
Fund overview
Fund overview
daappa Core
Transaction management
Transaction management
daappa Core
Investor allocations
Investor allocations
daappa Core
NAV workflow
NAV workflow
Fund structures Core supports
Private Equity
Closed-ended LP structures, co-investment vehicles, carried interest calculations, IRR at fund and investment level.
Private Debt and Credit
Loan accounting, interest accruals, PIK instruments, credit facilities, drawdown and repayment tracking.
Real Assets
Real estate, infrastructure, and natural resources. Asset-level accounting, income tracking, and multi-currency revaluation.
Hybrid and Mixed Funds
Multi-instrument structures combining equity, debt, and real assets. Mezzanine, fund of funds, and SPV hierarchies.
Corporate Funds
Open and closed-ended corporate structures with algorithmic NAV calculation, unit pricing, and unitised investor accounting.
Fund of Funds
Multi-level ownership structures, underlying fund tracking, shadow investments, and FoF look-through reporting.
Luxembourg Structures
SIFs, RAIFs, SICAVs, SCSp. CSSF regulatory reporting, BCL, AIFMD Annex IV. French-speaking local team.
SPVs and Co-investments
Special purpose vehicles, co-investment structures, side pockets, and complex multi-entity fund hierarchies.
Core capabilities

Everything from front to back office, in one platform

Six integrated functional areas built on a single transaction model: every transaction is entered once and flows through the general ledger, valuations, investor servicing, reporting and compliance. Built for the specific complexity of private markets, including NAV for both partnership and corporate (retail) fund structures, not adapted from a generic accounting system.

Fund and Capital Accounting
The core accounting engine. Postings enter once and automatically generate aggregation and allocation routines across the fund hierarchy. Every transaction is the single point of entry for all downstream reporting, compliance, and analytics.
  • Flexible allocation rules for drawdowns and distributions
  • Transaction codes for recallable distributions and fee types
  • Capital call and distribution processing with rounding rules
  • Automated partner capital account statements
  • Management fee algorithms configurable per fund
  • Fund invoicing with VAT and FX settlement handling
General Ledger
A fully featured private markets general ledger. Transaction postings create GL journal entries automatically, populating either daappa's inbuilt GL or your existing external ledger system via integration.
  • Flexible chart of accounts with segmented code structure
  • Multi-currency with automated FX revaluation
  • GAAP and IFRS standards with parallel chart of accounts
  • Budgets, cost centres, and profiles
  • Accruals, prepayments, and repeating journals
  • Excel add-in for journal upload and financial data extract
Investor Servicing
Complete investor relationship management from onboarding to reporting. All investor data held in one place, driving accurate communications and compliant reporting across every fund.
  • Investor profiles with AML/KYC approval tracking
  • Mail merge directly from transaction screens
  • SWIFT-formatted bank instructions
  • CRM for contacts, workflows, and communications history
  • Standard and custom investor reports
  • LP document and data portal via daappa Studio
Valuations
A controlled, transparent valuation process with full auditability. Pre-defined and user-defined algorithms that draw on all platform data and are entirely under your control.
  • Up to ten valuation types per investment
  • BVCA, EVCA, and in-house valuation methods
  • NAV and GAV algorithms for corporate funds
  • What-if valuation modelling and scenario analysis
  • Quoted investment price feeds via external integration
  • IRR calculations across all valuation types
Reporting and Compliance
Standard and custom reporting for financial, market, and performance obligations. Analyser -- daappa's self-service report builder -- puts report creation in your hands without technical support.
  • IFRS9, BCL, INREV, FATCA, CRS standard reports
  • AIFMD Annex IV and Luxembourg-specific regulatory output
  • Analyser: drag-and-drop data extract and report builder
  • ESG and SFDR metrics collection and reporting
  • Investment mandate monitoring and breach alerting
  • Export to CSV, XLSX, PDF, RTF, HTML
Portfolio and Deal Management
The full investment lifecycle from pipeline to exit. Track deals, manage due diligence, monitor portfolio company performance, and collect the KPI data that drives your reporting.
  • Configurable deal pipeline with workflow and status tracking
  • Due diligence documentation and contact management
  • Portfolio company KPI and accounting metrics collection
  • IBOR investment book of records across all asset types
  • Look-through ownership and exposure mapping
  • Reciprocity analysis across advisers and deal sources
Accounting standards
GAAP
IFRS / IFRS9
BVCA valuations
EVCA valuations
ILPA reporting
AIFMD Annex IV
FATCA / CRS
BCL / INREV
ESG / SFDR
Platform and security
ISO 27001
ISO 9001
Microsoft Azure hosted
Encrypted at rest and in transit
Granular access control
Full audit trail
Maker / checker workflow
Multi-currency (6 types per transaction)
Multi-cloud
Deploy in our cloud, your cloud, or on your own infrastructure
20+ yrs
Building private markets technology
Valuations
Asset and fund valuations built in
4
Jurisdictions with active fund administrator clients: UK, Luxembourg, Channel Islands, Middle East
Add Studio+

Core handles your fund accounting. Studio+ handles the intelligence above it.

Many daappa clients run Core for fund accounting and Studio+ for data extraction, portfolio analytics, NAV oversight, and investor reporting. The two connect directly -- Core is the data source, Studio+ is the intelligence layer.

See daappa Studio+
Extractor AI
Automate extraction from quarterly portco reports, LP documents, and financial statements into DataHub.
NAV Oversight
Automate the 0.5bp NAV movement check and sign-off for outsourced fund accounting. Rapid onboarding.
Analytics and BI
Private markets dashboards, performance metrics, and portfolio reporting built on Core data.
Investor Portal
Branded client portal for document and data exchange. Fund admins use it to deliver reports to their clients.
"
With increasingly complex client needs including mandate management, and evolving regulatory pressure on administration, governance and risk management, we found in daappa a powerful yet flexible solution that allows us to scale our operations on demand while maintaining a high level of control and transparency.
Managing Director  ·  European Fund Administrator
Getting started

How implementation works

We scope every Core implementation against your specific fund structures, data model, and operating model. No generic rollouts -- the platform is configured to reflect how you work.

Step 01
Discovery and scoping
We map your current processes, fund structures, investor base, and reporting obligations. This becomes the blueprint for configuration. Typically two to three weeks for a mid-sized administrator.
Step 02
Configuration and data migration
Fund structures, investor profiles, chart of accounts, transaction codes, and reporting templates are configured to your requirements. Historical data is migrated and validated before go-live.
Step 03
Go-live and ongoing support
Parallel running during transition. Your team works directly with daappa's senior implementation staff throughout. Post-go-live support is provided by the same people who built your configuration.
Download the Core brochure
Full capability detail, technical specifications, and implementation approach in a single document.
Download brochure →
Common questions

Core -- frequently asked

What is daappa Core?
daappa Core is the fund accounting and administration platform for private markets. It handles partnership accounting, investor servicing, capital accounting, general ledger, valuations, reporting, and portfolio management for fund administrators and in-house managers across PE, debt, real assets, and hybrid structures.
What is the difference between Core and Studio+?
Core is the fund accounting engine -- it handles your back-office operations. Studio+ is the data and intelligence layer above it, covering Extractor AI, DataHub, NAV Oversight, Analytics, Compliance Monitoring, Look Through, and Portal. Many clients run both; Studio+ connects directly to Core as a data source.
Do you work with fund administrators in Luxembourg?
Yes. daappa has active fund administrator clients in Luxembourg and a local French-speaking team. We understand CSSF regulatory requirements and the reporting standards for Luxembourg fund structures including SIFs, RAIFs, SICAVs, and SCSps. Luxembourg is one of our core growth markets.
Which fund structures does Core support?
Core supports limited partnership, trust, corporate, fund of funds, mezzanine, and SPV structures. It handles closed-ended and open-ended corporate funds with algorithmic NAV calculation, as well as hybrid and multi-instrument structures combining equity, debt, and real assets.
Can Core integrate with our existing systems?
Yes. Core can post GL entries to your existing external ledger rather than daappa's inbuilt GL. It also has an Excel add-in for data exchange, API connectivity for downstream systems, and supports external price feeds for quoted investments. Studio+ provides a DataHub for broader data integration requirements.
How long does implementation take?
Implementation timelines depend on fund volumes, structure complexity, and data migration requirements. A straightforward small administrator typically goes live in 8 to 12 weeks. More complex configurations with multiple fund types and extensive historical data take longer. We scope each implementation individually.

Talk to us about your fund accounting requirements

Tell us about your current setup -- fund types, jurisdictions, team size, and what your existing system can't do. We'll show you exactly how Core fits and whether Studio+ adds value alongside it.

Book a demo Not sure which product fits?
See it in action

Fund accounting data you can trust

daappa platform
daappa Core fund overview dashboard
Aggregated, source-linked accounting data with a full audit trail to each document.
Your data, your infrastructure

Multi-cloud, or fully on your own infrastructure

Run daappa in our cloud, your cloud, or entirely on-premise inside your own environment. Your data is never shared with external AI engines unless you choose to. Built for enterprises and regulated managers who run their own AI and data infrastructure, or who simply cannot let client data leave their control.

Download the services brochureDeployment & managed services →