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Valuation. Built as a science.

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

Proven across every market since 2013

  1. 2013 Founded in Seattle

    First valuation technology built for private markets. Independent, founder-owned.

  2. 2018 Peer-Reviewed & Proven

    "Fair Value Roll Forward" published in The Journal of Portfolio Management with the University of California.

  3. 2019 A New Standard for Attribution

    Benchmark-based attribution debuts in the inaugural Journal of Financial Data Science.

  4. 2020 Proven Through the Pandemic

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

  5. 2021 Setting the Industry Standard

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

  6. 2025 Institutional Validation

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

  7. Today At Scale

    $200B valued daily. 8x growth in 18 months. 90,000 assets in under 90 seconds.

A math problem before it was a company

FEV started in Seattle in 2013 with a question Dr. Sidney C. Porter kept running into: if you can't observe a private company's price, can you still measure its value? He holds a PhD in mathematics from Yale, and he treated the question as math, not accounting.

The answer became the FEV model. The company is still founder-owned and run by its three co-founders, which means the methodology answers to the data and to clients, not to a roadmap set somewhere else.

UC checked our marks. We passed.

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

Valuation is a measurement, not an opinion

Most private valuation is an accounting opinion, rendered by people and defended quarter by quarter. FEV makes it a measurement: a model that takes a company's financials and returns a value the same way every time, across 90,000 assets in under 90 seconds.

Our models are accurate, objective, deterministic, and consistent down to the holdings level.

Every GP mark has a shelf life

Quarterly marks were built for a slower market. Five analysts, a spreadsheet, and a number once a quarter.

Today, capital flows daily, DC plans deal daily, and a 90-day reporting lag is now a window someone trades through. The quarterly process didn't fail. It just can't run at the speed the market now sets. Our deterministic models value every holding and run on an AI-native data pipeline. Same audit-defensible valuation at a scale a spreadsheet was never built to 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.

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.

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.

The fastest way to judge a valuation method is to watch it run on a real portfolio. We'll price one of yours.

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