How SERA IQ works
SERA IQ reads the official record (SEC filings and data from U.S. federal agencies, the Federal Reserve and international bodies) and identifies the funds, wealth advisers and placement agents that work with raises of a given size and kind, how comparable raises are performing, and where capital is moving.
A raise is described by its kind, its size and, optionally, the state in which it is raised.
Methodology: how firms are tested
No AI model is asked who might invest in a raise. Each firm is tested against the raise by fixed rules applied to what it has filed with the SEC, identically for every subscriber:
Firms that fail a test remain on the list, marked and ranked lower. Firms whose filings show they market only their own manager's funds are excluded, as are names not yet confirmed as firms. Every firm carries the reason it is listed, which can be read against the firm's own filings.
A listed firm reflects what public filings record. It is not a statement that any firm will invest in, place or support an offering.
- Size. Whether the raise is a sensible size for the fund, its clients or its deals.
- Kind. Whether its record fits the raise's industry and type of deal.
- Evidence. Whether its filings show it invests in other sponsors' deals, or that its manager raises for its own projects.
- Track record. For placement agents: how many recent comparable offerings named it as paid to sell, and for how many different sponsors.
- Independence. Whether it works for many sponsors or mostly for its own affiliates.
The four evidence levels
For every fund, SERA IQ states what its filings show, as one of four evidence levels (High, Medium, Low, Unlikely): whether it invests in other managers' funds or lends, whether its manager raises money for its own projects, or whether the filings do not say. Funds whose filings show they raise only for their own projects are marked Unlikely and ranked below the others of the same strength.
No filing shows how much uninvested cash a fund holds today, so SERA IQ shows its size and the evidence, and claims no more.
Three kinds of firm
Funds
Each fund is tested on its size and kind and carries its evidence level, from its own filings. Its profile shows what its investors put in, on average, at its latest filing.
Wealth advisers
Wealth advisers are shown with an estimate, from their registration filings, of the client money they manage in private funds.
Each profile adds who the adviser serves, from its own registration; an adviser that also sells deals shows how they performed.
Placement agents
Placement agents raise money from their own investors for comparable offerings, and SERA IQ shows the recent offerings of the raise's size whose filings named them as paid to sell.
Each profile shows how its deals performed, the typical cheque per investor, and the states in which its filings name it to solicit investors.
Adviser profiles
A family office's or adviser's profile states, from its own registration, who it serves: its clients by the assets it manages for them, what it does for them, its team and how it is paid. It states whether the adviser selects other advisers for its clients, as filed, and where it ranks among the advisers in its state by client money in private vehicles.
Market conditions for comparable raises
A slow raise may reflect the raise itself or conditions across comparable raises. For any raise described, SERA IQ shows how comparable raises have performed, from their filings, each raise counted once.
It also shows how many were sold through a placement agent, the sales commission reported as a share of the offering, and the typical minimum investment; Find capital states the first two in one line above its lists.
Share of target sold
The typical share of target sold by a comparable raise after six months or more, and how many sold out on their first filing.
Time open
The typical time from the first filing to the latest, and the typical number of investors and cheque.
New capital trend
New capital in each four-week period of the last year, beside the same weeks a year before.
Capital by asset class
Each class of private raise read against its own last six months, from Cold to Hot, with the new money its filings reported. A raise filed several times is counted once, and amounts that SERA IQ's review finds no real raise supports are left out.
The markets behind private capital
Capital flows between countries, rates, credit, commodities, warning signals and the economic cycles, each read against its own history. Eight industry pages read each industry's costs, activity and private capital against their own history, from the same official sources.
Each economic and market source shows the date of its latest release, because every source publishes on its own schedule.
Weekly and monthly analysis
Each week and each month, SERA IQ publishes a short read on the markets behind private capital. It is general market commentary, not investment advice, drafted with the assistance of AI and checked by automated controls. Every figure in it comes from the data on SERA IQ's pages, and each call is graded against the published data once that data is out.
An email reports news on followed firms, issuers and raises, weekly on Mondays or each weekday as the subscriber chooses, and the analysis of the markets behind private capital is emailed when it is published.
For a followed adviser, the email also reports when a registration filing moves its assets under management up or down 25% and $250M or more against its filing a year earlier, and each private fund it reports for the first time with $25M or more, other than series and co-investment vehicles. Each change is reported once.
Demo access
Demos are available on request. They are by invitation and not granted automatically: SERA IQ reads every request and chooses who receives one. A demo runs for 5 days, with limited daily use and no exports.
It runs for 5 days from the day it is opened and may be extended. It includes up to 5 Find capital searches, 25 firm profiles and 30 filing pages a day. People's names and exports require a subscription. No card is needed, and the demo ends on its own.
$199 a month for 24 months, up to $2,400 saved. No contract; cancel any time; your first month back within 5 calendar days if you ask and have not exported or gone past the first days' limits.
Not ready? Receive the free weekly Capital Brief.
Request a demo (by invitation)