F2

CEO @F2aiHQ (YC S25) | Co-Founder @join_arc (YC W22) | Stanford GSB

F2 is an AI platform built for private credit funds, commercial banks, and other private markets investors, embedding directly into the workflows that deal teams use to screen, underwrite, and monitor transactions. Its core product is Adam, a purpose-built AI deal team associate designed to permanently sit alongside credit underwriting and portfolio monitoring teams , paired with two layers called Deal Intelligence and Institutional Knowledge that transform a firm's deal history into a persistent, queryable knowledge asset and evaluate every new opportunity using precedent deals, data rooms, and market data. Underneath the agent sits an Excel-native financial analysis engine , which preserves cell dependencies, formula logic, and full data lineage so every number in an IC memo traces back to its original source . The launch matters because F2 is pairing a $14M seed with real enterprise traction in a category where most tools are still horizontal chat wrappers. The seed round was led by HighlandX, with participation from Left Lane Capital, NFX, Y Combinator, and Torch Capital, bringing total equity raised to $24M. The company is already deployed across 100+ funds and banks globally , including Bain Capital and Live Oak, with monthly active users up 650% and deals processed up roughly 10x year to date. F2 takes an LLM-agnostic approach across models from Anthropic, OpenAI, and Google, and emphasizes enterprise-grade data privacy with zero-day retention and no training on client data , a posture that matters for firms underwriting billions in capital. F2 is led by CEO Don Muir, who previously co-founded Arc (YC W22) and holds an MBA from Stanford GSB. The company was originally built to solve the needs of Arc's lender customers as they reviewed and underwrote debt deals on the Arc capital markets platform, starting as an internal agentic underwriting tool before being spun out as a standalone business. With private credit now a roughly $15 trillion asset class still running on manual spreadsheet work, F2 is betting that the firms which wire AI into sourcing, underwriting, and monitoring earliest will be the ones setting the pace for the next cycle.

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