Transforming Due Diligence: Bowtie’s Public Release of DDQ AI Enhances Automation Efficiency
New York, NY, October 25, 2024 –Today Bowtie publicly releases DDQ AI, which automatically completes Due Diligence Questionnaires (DDQs) by leveraging the knowledge in a fund’s investor materials and previously completed forms. Hedge funds, VC and PE firms, funds of funds—or any firm that completes DDQs regularly—can expect substantial savings in this time-consuming area.
Initial clients report more than a 90% reduction in the time required to complete a DDQ form, reducing the completion cycle from one week to less than a day. DDQ AI is already used by funds with a total of $40 Billion in combined AUM. To be sure, Daniel Gelernter of RG Niederhoffer Capital notes, “DDQ AI is saving us almost a week per DDQ. We usually have to do 50 or more of these per year, so it’s pretty much the biggest no-brainer of all time.”
“DDQ AI was created to tackle one of the biggest time drains for fund managers—responding to DDQs,” said Jason Gabbard, Co-Founder of Bowtie. “By automating this process using institutional knowledge from past responses and other critical documents, DDQ AI frees up fund managers to focus on what matters most: growing their investments and managing their portfolios.”
Key Features of DDQ AI:
– Automated DDQ Response: DDQ AI harnesses proprietary technology to draw from a fund’s existing documents—such as previous DDQ responses, marketing materials, and offering documents—to automatically tailor responses to new DDQs.
– Institutional Expertise: Built upon years of expertise in high-value legal agreements, DDQ AI ensures accuracy, consistency, and efficiency in its responses.
– Time Savings: The platform saves users roughly one worker-day per questionnaire, allowing firms to dedicate their time to higher-value tasks.
Security at the Core
Bowtie built DDQ AI with security as a cornerstone. The platform is SOC-2 Type II compliant, providing the highest standards of data protection. “We got our start working with high-value, complex legal agreements for one of the world’s largest asset managers, which meant operating under extreme scrutiny from day one,” said Gabbard. “DDQ AI was built with the highest focus on security to ensure that sensitive information remains fully protected, offering our clients complete peace of mind.”
Flexible Pricing for All Fund Sizes
DDQ AI is available on a fixed-price annual contract basis, with no per seat pricing. Pricing is determined upon consultation to ensure the solution is accessible to funds of all sizes. “Whether you’re a boutique fund or a large institution, DDQ AI scales to meet your needs, offering a flexible, secure, and efficient solution for DDQs,” added Gabbard.