Investment workflow infrastructure for institutional underwriting and monitoring
Governed institutional memory and workflow infrastructure for investment decision-making.
Captures deal facts, analyst judgment, IC decisions, thesis revisions, covenant triggers, escalation history and outcomes in one governed system of record.
Karanya.AI helps institutional investors preserve, govern and operationalise investment judgment across underwriting, monitoring and IC decision workflows.
AI-native architecture · designed for governed institutional workflows
Built from experience across global alternative asset managers and investment banks in private credit, structured finance, infrastructure, special situations and capital markets.
The problem
IC decisions, thesis revisions, covenant triggers, escalation history and post-mortems are usually fragmented across memos, spreadsheets, emails and analyst turnover. The workflow survives. The judgment layer often does not.
Monitoring drift from the original underwriting thesis is rarely captured systematically.
Most firms can build workflow tooling. Far fewer institutionalise dissent, calibration history and cross-cycle learning in a governed form.
Underwriting
Preserve rationale, not just outputs.
- Ingest deal materials (offering memo, indenture, financials, datapack)
- Extract structural and financial facts into a governed deal record
- Compare against precedent stress, restructuring and failure-case patterns
- Pressure-test thesis assumptions and identify analytical gaps
- Support IC memo drafting with traceable sourcing on material claims
- Capture IC decision revisions with reason and sunset condition
Monitoring
Detect thesis drift before position drift.
- Covenant tracking with headroom against committed levels
- Risk triggers per position, pre-committed to action thresholds
- Borrower / issuer update ingestion (quarterly results, rating actions, news flow)
- Variance vs original thesis, with the senior-review note attached
- Escalation logs with reason, owner and resolution
Institutional memory
Retrieve precedent, not just documents.
- Retrieve prior similar deals with the IC verdict and the rationale
- Outcomes tagged post-resolution: vindicated, failed, pending-review, unresolved
- Thesis-revision patterns surfaced for cross-cycle calibration
- Rejected cases preserved with the reason for rejection
- Mistakes tagged honestly so the framework learns from them
Portfolio view
Surface aggregate risk before any single position breaks.
- Aggregate covenant headroom and stress sensitivity across the book
- Concentration view: sector, sponsor, jurisdiction, ranking, vintage
- Decision-pattern analysis across strategies and cycle phases
- Outcomes scorecard vs original IC verdicts (vindicated / failed / pending-review / unresolved)
- Portfolio dependency view: positions disproportionately driving returns or risk
- Variance from collective thesis with attribution to drivers
Governed judgment
Karanya does not replace investment judgment. It preserves, tests and institutionalises it.
Initially calibrated for credit workflows, with applicability to broader institutional investment processes. Framework-flexible: a firm can adopt the Karanya framework as baseline, or keep its existing framework and use Karanya as the institutional-memory layer above it. Complementary to internal AI capability rather than a substitute for it.
Karanya is workflow infrastructure with governed institutional memory, not a generic AI copilot layer.
Governance posture
Designed for institutional workflow environments where auditability, traceability, permissions and review discipline matter.
Workflow-flexible: deploy alongside existing underwriting and monitoring processes rather than replacing them.
Human review remains explicit in the decision chain.
Architecture intended to support document-level provenance, escalation history and governed institutional memory.
Complementary to internal AI and data infrastructure.
Who it serves
Origination and portfolio monitoring across direct lending, mid-market, structured credit.
IC-driven public credit, special situations and stressed-credit strategies.
Corporate lending, structured finance, leveraged finance and portfolio monitoring teams.
Public credit, multi-strategy fixed income, insurance-linked investment platforms.
Investment platforms with shared IC discipline across asset classes.
Founder
Built and led investing across global alternative asset managers and investment banks in private credit, structured finance, infrastructure, special situations and capital markets. Most recently with Apollo Global Management in APAC Credit. Karanya is the institutional-memory and judgment layer Anand wished he had through every cycle: the architecture is calibrated by direct experience across underwriting, monitoring, restructurings and stressed-credit cycles.
Get in touch
Or write directly to anand@karanya.ai. Singapore.