The Private Markets ecosystem is at a structural inflection point. In a recent episode of Modern Capital: The Private Markets Podcast, Andrew Tarver a seasoned technologist and private markets strategist, lays out a compelling case for why the industry’s operational plumbing needs to evolve rapidly if it’s going to scale effectively. Daphne gets a mention in the discussion as part of the conversation about the infrastructure required to support the next decade of growth in private markets.

Tarver’s argument is straightforward: the volume of activity moving through private markets is about to explode, driven by model portfolio re-balancing, retail access, and broader adoption of alternatives. With tens of millions of orders projected annually as allocations shift and rebalance, the current manual, paper‑based systems simply won’t cope. That reality creates a paperwork crisis that resembles where public markets were before digital standards and automation became widespread.

Technology isn’t just a nice‑to‑have, it’s foundational. Throughout the episode, Tarver emphasises that solving this scalability challenge isn’t about incremental automation; it’s about industry‑wide digital standards, rules‑based infrastructure, and accountability at every node of the investment lifecycle. Without these, operational bottlenecks will persist, hampering growth and increasing cost burdens across the value chain.

What this means for Daphne and the broader market

As private markets grow in size and complexity, structured, interoperable data becomes a critical ingredient for success. Platforms like Daphne, designed to turn fragmented, GP‑controlled data into standardised, useable infrastructure sit right at the heart of this shift. By enabling fund information to be digitised once and distributed widely, Daphne helps remove the friction that would otherwise slow down transformation across trading, reporting, distribution, and analytics workflows.

At Daphne, we’re encouraged by discussions like this, they spotlight the infrastructure challenges facing private markets and the importance of building foundations that support growth, interoperability, and a future where data flows seamlessly across systems, partners, and use cases.