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Case study

Building a modern multi-family office on the right foundation

Founded in Singapore in 2024, Tabono Capital is an independent, employee-owned investment manager and multi-family office serving a select group of ultra-high-net-worth families. Throughout their years in private banking, its founders had faced a challenge: managing increasingly complex portfolios with fragmented oversight. Co-founders Nirish Unni and Santosh Rao built the firm to deliver the depth and continuity of a single-family office, unifying portfolio management, family office services, and reporting within a single advisory relationship.

“We are not building a conventional, product-led wealth management business,” says Santosh Rao, Co-Founder and Chief Revenue Officer. “Our role is to understand the full context of a family's affairs across banks, entities, investments, and advisers, and then bring those elements together into a coordinated strategy.”

HEADQUARTERS

Singapore

ESTABLISHED

2024

TEAM MEMBERS

5

EXECUTIVES

Nirish Unni, Co-Founder and CEO; Santosh Rao, Co-Founder and Chief Revenue Officer

THE CHALLENGE

Investing in the right foundation before the first client

When Tabono Capital launched, one of its founding priorities was to establish institutional-grade reporting infrastructure from the outset. There was no legacy system to migrate from, but through their years in private banking, the founders had seen how difficult it could be to replace fragmented systems once a business had grown around them.

“We therefore decided to invest in scalable infrastructure from the beginning rather than treat technology as something to address later," says Nirish Unni, Co-Founder and CEO. “That decision also reflected what we were hearing from clients,” adds Santosh. “They increasingly wanted to understand not only who would advise them, but also how their information would be consolidated, protected, and reported.”

Portfolios that refuse to fit a single framework

The complexity of the portfolios Tabono Capital oversees compounds the operational challenge. Client portfolios typically span multiple custodians and bespoke holding structures, including private market investments and multiple currencies. The founders did not want to build the firm around manual processes that would become increasingly difficult to scale as portfolio complexity grew.

“Many wealthy families have sophisticated portfolios but fragmented oversight,” says Nirish. “We built Tabono Capital to close that gap by combining investment management, family office coordination, and transparent reporting within one advisory relationship.”

Addepar offered the combination of security, data aggregation, configurability and reporting depth that best-suited the business 
we intended to build.

Nirish Unni, Co-Founder and CEO, Tabono Capital

Institutional capability from day one

As a newly launched firm in a relationship-driven market, Tabono Capital wanted its operating infrastructure to reflect the institutional standards its founders brought from private banking. That meant having flexible, highly customised reporting tailored to individual client needs, supported by a platform sophisticated enough to handle complex investment requirements.

The team evaluated a range of global and regional platforms. “Addepar offered the combination of security, data aggregation, configurability, and reporting depth that best suited the business we intended to build,” says Nirish.

With Addepar supporting its technology infrastructure, Tabono Capital has experienced:

~5x

growth in assets under management since launch

200+

alternative investment positions tracked within a single reporting framework

THE RESULT

A single, trusted view of client wealth

With Addepar as its central data platform, Tabono Capital now consolidates information across multiple custodians and asset classes into a unified view of each client's wealth, bringing together traditional investments, private market positions, held-away assets, and externally managed portfolios.

“Addepar provides the core financial picture,” says Nirish. “It consolidates portfolio information, which our team then uses in client reviews, investment discussions, and planning conversations. We use other technology providers for relationship management, communication, collaboration, and document sharing. Clients experience a connected service rather than a series of unrelated systems.”

The ability to track over 200 alternative investment positions within a single framework gives Tabono Capital a clearer and more consistent view across complex portfolios. “Having that information in one place gives our team and our clients a clearer understanding of the total portfolio,” says Santosh.

Having that information in one place gives our team and our clients 
a clearer understanding of the total portfolio.

Santosh Rao, Co-Founder and Chief Revenue Officer, Tabono Capital

Embracing the next generation

The platform has also strengthened how Tabono Capital engages with younger family members. “Addepar helps create a common view of the family's assets, entities, and exposures, providing a stronger starting point for conversations about succession, responsibility, and long-term planning,” says Santosh.

Nirish adds: “Technology cannot replace dialogue, but it can make that dialogue more informed and inclusive.”

Reporting that adapts to individual family needs

Rather than static, one-size-fits-all reports, Tabono Capital builds customised dashboards and views aligned to each family's ownership structures and priorities. That same capability has become a meaningful part of the firm's conversations with prospective clients.

“In one recent conversation, we were able to show a prospective family how information held across multiple relationships could be brought together and organised within a single reporting framework,” says Santosh. “It shifted the conversation from what we promised to how our operating model would work in practice.”

“Technology can provide visibility and structure, but the information still requires judgement and context,” says Nirish. “Our role is to interpret the information, identify what matters and help the family make better-informed decisions.”

A scalable model with a focused team

Since launch, Tabono Capital has grown its assets under management approximately fivefold. Having scalable infrastructure in place from the outset has allowed the firm to support that growth while maintaining a focused team and a consistent standard of client service.

“The key benefit is operating leverage,” says Santosh. “As we add clients, custodians, and investment positions, we can manage the additional complexity within a consistent framework rather than creating a new manual process for every relationship. That allows us to grow without compromising the quality of engagement or requiring headcount to grow at the same rate as assets under management.”

“Our model is based on experienced professionals remaining close to clients rather than building a large, traditional relationship-manager structure,” says Nirish. “The platform can support us at different stages of growth. It can serve a focused five-person team today and remain relevant to a much larger organisation in the future.”