F2 has no traditional salespeople and only hires ex-finance professionals, whom Donald Muir teaches to sell.
F2 tests its AI on customers' live deal data under NDA, turning 80% AI memos into same-day 100% memos.
All 50 ARK investors joined F2's first round after Muir's AI took ARK's loan volume from tens of millions to tens of billions.
F2 Staffs Its Sales Team With Ex-Finance Professionals
F2 sells agentic AI to private markets investors and grew out of a lender's request. Muir built AI at ARK that turned messy Excel data into screening memos, taking ARK from tens of millions to tens of billions in loan volume. When an upmarket lender asked to run that AI on all its deal flow, the work was non-core for ARK, so he started F2. All 50 of ARK's investors joined the first round, and the go-to-market matches the buyer, with ex-finance hires and proof run on the prospect's own live deal.
Takeaways
F2 hires ex-finance professionals, not salespeople. Muir argues talent is the product in private equity, so buyers trust people who have sat in their seats. F2 has no traditional salespeople, and Muir teaches the ex-finance team sales using five years of SMB go-to-market experience.
F2's Excel agent does not hallucinate. Muir says LLMs hallucinate and cannot do math, while F2 built technology that does math and cracked analysis of unstructured XLS data before anyone else. He is surprised foundation models have not caught up.
Growth is running at ten times per quarter. F2 launched a few months before the recording and tracked 10x quarter-over-quarter growth into the next Q1. Transactions on the platform average $500m, and screening memos that took a dozen hours see 90%-plus time savings.
AI will rotate work, not cut jobs. Muir expects rotation in the labour market, not net job loss near term, and he is doubling his team. Investment professionals move from menial work to operating the system, so funds make fewer hires while scaling assets under management.
Diligence grunt work can be automated today. Scraping data rooms, tying out financials, formatting PowerPoint slides and pulling organic growth rates out of 10-Ks and 10-Qs could all be fully automated with agentic AI today, and Muir says it should be.
F2 wants to syndicate deals on platform. The roadmap runs from pre-funding workflows to agentic portfolio monitoring, then to syndicating deals once F2 has thousands of enterprise clients. Muir frames the ambition as a $100bn publicly traded business within a handful of years.
The super day playbook
Muir built the process to counter the perception that AI hallucinates, replicating private equity's super day.
F2 signs an NDA and gets access to the prospect's live deal data room and investment committee memos.
It runs timed tests on that live material and produces an AI-generated memo.
The F2 agent then takes the memo from 80 to 100 percent, cleaning up the output.
The firm presents the finished memo to its own team, typically the same day on a call.
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