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Valuation. Built as a science.

Price every private holding, every trading day, at scale.

Proven across every market since 2013

  1. 2013 Founded in Seattle

    Valuation technology built for private markets. Independent, founder-owned.

  2. 2018 Peer-Reviewed Research

    FEV and UC Investments published a fair value roll forward case study in The Journal of Portfolio Management.

  3. 2019 A New Method for Attribution

    FEV introduced benchmark-based attribution in the inaugural Journal of Financial Data Science.

  4. 2020 Proven Through the Pandemic

    Daily valuations stayed within 1% of GPs' reported NAVs through the COVID drawdown.

  5. 2021 Setting the Industry Standard

    Founding Research Partner of DCALTA; co-author of its daily-valuation framework.

  6. 2025 Institutional Validation

    UC Regents made a strategic equity investment, FEV's first outside capital.

  7. Today At Scale

    $250B valued daily. 8x growth in 18 months. 90,000 assets in under 90 seconds.

UC checked our marks. We passed.

FEV Bias

UC Investments runs a $225 billion portfolio, a quarter of it in private assets that GPs reported 45 days late. Before trusting FEV's daily marks, UC validated them against GP-reported NAVs itself.

FEV tracked to a median difference of −0.46%.

Read the Whitepaper

Every GP mark has a shelf life

Quarterly marks were built for a slower market, when analysts and a spreadsheet produced one number a quarter.

Today, capital flows daily and DC plans deal daily, so a 90-day reporting lag is now a window for trading against stale prices. The quarterly process did not fail, but it cannot run at the speed the market now sets. Our deterministic models value every holding and run on an AI-native data pipeline, which delivers the same audit-defensible valuation at a scale a spreadsheet process cannot reach.

Learn about our Models
Traders in shirts and ties at a desk of CRT monitors, two of them leaning over a colleague's shoulder to read his screen.

Why FEV?

If it is not automated, then it's not scalable.

An allocator does not trade private holdings daily, but their value decides how much liquidity the portfolio must keep. Without a current value, it holds back extra cash, which drags on the whole portfolio.

Our daily valuation supplies that value, so allocators can tighten liquidity bands and allocate more to illiquid assets.

For managers, daily pricing is table stakes: a product without it is harder to sell.

Read the full case

Leadership

  • Swain PorterCEO
    Swain Porter

    Swain Porter is CEO and co-founder of FEV Analytics, which he started in 2013 with his brother Dr. Sidney Porter and Sheridan Porter. He began at Immunex and Microsoft, then founded and sold Catalytic Software.

  • Sheridan PorterCo-founder
    Sheridan Porter

    Sheridan Porter is a co-founder of FEV Analytics and oversees its product design and industry outreach. She was CEO of SkyChron and SVP of Prithvi, and holds an MBA from the University of Melbourne.

  • Ibrahim El FarCTO
    Ibrahim El Far

    Ibrahim El Far is CTO of FEV Analytics. He has built large-scale systems at Microsoft, where he worked on Cortana, Bing and Windows search, and at Google, Bridgewater Associates, Expedia Group and Ford.

  • Sidney PorterChief Data Scientist
    Sidney Porter

    Dr. Sidney Porter is a co-founder and Chief Data Scientist of FEV Analytics. He holds a PhD in mathematics from Yale, taught computer science and mathematics at Boise State University, and built the FEV model.

  • Bill DillmeierHead of Finance
    Bill Dillmeier

    Bill is a CFO and Operating Partner to founders, building the financial intelligence, capital strategy, and operating infrastructure that make companies fundable, scalable, and exit-ready. Bill has followed a consistent playbook: get in early, build the model, align the team, and raise the capital.

Publications

  • Introducing Objective Benchmark-Based Attribution in Private EquityThe Journal of Financial Data Science, 2019
  • Improving Investment Operations through Data ScienceThe Journal of Portfolio Management, 2018
  • Daily Valuation of Alternative Assets in DC PlansDCALTA, 2021
  • An Economic Case for Transparency in Private EquityWorking paper, 2021
  • The Many Theoretical Deficiencies of Performance Evaluation in Private EquityFEV Analytics, 2018

Join the team

FEV is a research-first valuation company in Seattle, turning a math problem into a daily price for private markets.

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Breakthrough technology. Disruptive pricing.

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