Avery, the Regulatory Co-Pilot, Is Designed to Offer 24/7 Personalized Regulatory and Enforcement Action Insights to Minimize Risk Of Non-Compliance

MENLO PARK, Calif., Oct. 12, 2023 — Surge Ventures, a FinTech Venture Studio, proudly announces the launch of its inaugural venture, RegVerse which focuses on advancing Regulatory Technology (RegTech). Under the visionary leadership of seasoned WealthTech and RegTech entrepreneur, Sid Yenamandra, RegVerse introduces its flagship product, Avery, which is poised to reshape regulatory change management and tracking of firm-wide compliance protocols for Registered Investment Advisors (RIAs), Hedge Funds, Mutual Funds, Insurance Agencies, Banks and Broker-Dealers (BDs).

In a world where regulatory complexities can be overwhelming, Avery by RegVerse offers a game-changing solution. Avery combines cutting-edge AI precision with human expertise to provide 24/7 personalized compliance guidance. Its mission is to minimize regulatory risks while saving valuable time and resources for financial advisors and firms.

Mr. Yenamandra, Co-Founder of Surge Ventures and CEO of RegVerse, emphasizes the profound impact of Avery, stressing that “navigating intricate regulations presents an ongoing challenge for firms of all sizes. Avery’s blend of AI-powered insights and human support empowers firms to effectively track and implement best practices, reducing risks and ensuring stringent compliance with ease.” 

Generative AI has immense unlocked potential in the WealthTech and RegTech spaces. During Gartner’s recent webinar entitled “The Opportunity and Impact of Generative AI on Financial Services,” an April 2023 Financial Services Research Panel Survey1 was discussed that found 66% of financial service leaders expect GenAI to have more potential for benefit than risk to their organization. In addition, 61% of executives in the survey report their firms are increasing investments in AI or plan to do so in the next 12 months.

Elevating Compliance for SEC, FINRA and State Regulated Firms

RegVerse’s pioneering market, encompassing Registered Investment Advisors (RIAs), Hedge Funds, Mutual Funds, Insurance Agencies, Banks and Broker-Dealers, stands at the threshold of a transformative regulatory compliance experience through Avery. The AI-driven platform elevates the standards of compliance:

  • Tailored Regulation Mastery: Avery taps into an extensive repository of over 100 state and federal regulatory sources, tailoring regulation management to each entity’s unique requirements. It pinpoints compliance gaps and ensures rigorous adherence through meticulous mapping of regulatory requirements.
  • AI-Powered Regulatory Co-Pilot: Avery’s AI-powered regulatory co-pilot simplifies intricate regulations, automatically identifying and summarizing pertinent guidelines. This seamless automation optimizes both time and effort.
  • Unified Collaboration Hub: Avery streamlines communication and teamwork, simplifying regulatory management, information exchange, task allocation, and progress tracking.
  • Real-time Alerts for Regulatory Events: Dynamic alerts provide instant updates, empowering teams to stay well-informed, make educated decisions, uphold compliance, and proactively preempt non-compliance risks.
  • Simple Onboarding and Pre-built Integrations:  Avery eliminates complex setup procedures and offers a hassle-free experience, allowing compliance departments to easily connect to Avery, even with existing tools. 

RegVerse’s Value Proposition

  1. Saves Firms Time Identifying Regulatory Gaps: Avery’s automation optimizes resource allocation by automating manual tasks, identifying relevant regulations, and analyzing events for optimal task allocation.
  2. Streamlined Regulatory Management: Leveraging real-time insights and dynamic mapping, Avery serves as a robust automation tool that accelerates task creation while reducing manual intervention.
  3. Empowering Compliance Teams with AI: Avery, the regulatory co-pilot, ensures firms remain proactive in the face of regulatory changes, automating operational processes, and offering specialized assistance.

With a wealth of expertise and a proven track record, Tito Pombra, the former CCO at Matthews Asia, lends his unique perspective to the unfolding narrative of success at RegVerse, adding that by “harnessing the power of AI, Avery revolutionizes regulatory compliance management. The fusion of advanced artificial intelligence and tailored assistance sets the gold standard for effective, industry-specific compliance solutions.”

Pricing for RegVerse starts at $329/month. To schedule a demo or request additional information, visit www.regverse.com

Visionary Leadership: Sid Yenamandra

Mr. Yenamandra’s successful entrepreneurial journey in Silicon Valley shapes Surge Ventures’ pioneering edge. His history of guiding Entreda through complex compliance challenges positions Avery as a dynamic force in the regulatory landscape.

He has a history of successful exits as a Silicon Valley based entrepreneur. Most recently, he was CEO and Founder of Entreda, acquired by K1 Investment Management and Smarsh in 2020. Mr. Yenamandra was the visionary behind Entreda’s award-winning cybersecurity compliance software and worked closely with regulators for years before unveiling its platform to specifically address SEC and FINRA guidance. Before being acquired by Smarsh, Entreda was the #1 provider of cybersecurity compliance software by market share to financial services and wealth management firms. Clients included industry leaders such as Advisor Group, LPL Financial and Kestra. Prior to Entreda, Mr. Yenamandra served as VP of Product and Marketing at venture-funded, Plato Networks, which was acquired by Netlogic and then Broadcom for $4B in 2012. He also led an NSA-funded project at HIFN to build data security technologies to protect US-critical infrastructure.

About Surge Ventures:

Surge Ventures will co-found and invest in promising start-ups that are using innovative technology to address rapidly intensifying data and privacy needs across wealth management firms and other financial services businesses. Consistent with the venture studio model, Surge Ventures will go beyond providing investment capital and strategic guidance to its portfolio companies. The firm will leverage its decades of technology expertise, best practices for bringing nascent innovative products to market in the wealth management space, customer acquisition and deep operational knowledge to grow multiple software companies from the ground up to serve as a “shared services” backbone to its portfolio companies, offering scalable operations, foundational technology building blocks, demand generation, corporate finance and enterprise sales support, among other solutions.

The firm has developed a set of proprietary methods, known as the “Surge Method,” to rapidly test business ideas, detect early signs of product-market-fit and track on-going growth to de-risk investments by focusing on only the most promising products and solutions.

About RegVerse

RegVerse is a pioneering RegTech venture under the umbrella of Surge Ventures, a FinTech Venture Studio. RegVerse’s mission is to empower financial firms with cutting-edge AI solutions, starting with Avery, a Generative AI-powered Regulatory Management Platform. With an initial focus on regulatory change management excellence for wealth management firms, RegVerse aims to revolutionize the regulatory landscape.


1 2023 Gartner Financial Service Research Panel Survey: The survey aims to understand respondents’ opinion on generative AI products. For the purposes of this survey, generative AI refers to AI techniques that learn a representation of artifacts from data and models, and use it to generate brand-new, completely original artifacts that preserve a likeness to original data or models. This online survey was fielded from 19 April through 2 May 2023. The survey includes 75 respondents who are senior business and technology leaders from financial services organizations.