Figure Technologies launched its new digital fund services products for investment firms on a blockchain, the company said in a statement.

The San Francisco-based financial technology firm used the Provenance blockchain and aims to use the technology to automate much of the paper-based processes in fundraising and fund management. Services include capital raising, investor onboarding, know-your-customer, anti-money laundering and Bank Secrecy Act activities, digital subscriptions, capital calls, and transfer agents.

Mike Cagney, co-founder and CEO of Figure, said the idea is to allow investment funds to focus on their core strength, investing.

“Figure’s Digital Fund Services offering is the first end-to-end blockchain solution that combines tools for digital fundraising and ongoing fund management with a primary marketplace for raising capital and a future secondary marketplace for trading fund interests.”

Figure also announced that venture capital fund Friends & Family Capital II is its first investment firm partner to use its blockchain services. The fund, Figure said, also wants to leverage these services for a “fully digital secondary trading of fund interests” and settle in almost real-time at T+0 with no counterparty risks and lower transaction costs.

This is not the first time Figure took advantage of blockchain’s benefits. Figure also has a blockchain-based marketplace for buying and selling loans.