We build competitive advantage through finance and operations
A proper fund admin handles recording transactions, preparing financial statements, and communicating with LPs. However, there is much more needed to have a functional back office.
Our strategic finance and operations services pick up where traditional fund administration engagements stop.
Venture Fund Modeling
Excel-based Venture Fund Modeling is clunky and time-consuming, making it difficult for GPs to scenario plan.
We build and manage your Firm’s model(s) in Tactyc.io so you always have access to answers for critical conversations with LPs & Founders.
GP Office Hours
As an emerging manager, you're pulled in many directions. You're a founder and investor in one.
Office hours are when you need advice, have questions, or need a sparring partner to flush out ideas.
Partnered with Coolwater Capital, these workshops are meant for funds looking to build a back office ready for institutional LPs.
Tactical in focus, this workshop will uncover the black box of "how to run a VC fund.
Venture Back Office
What is the back office responsible for in an emerging venture fund?
There is no dogmatic answer or approved standard from an initial-named industry organization for how to build a back office. There are many jobs-to-be-done and often limited time and resources. GPs must decide how to best build a team that will drive out-sized returns.
At the end of the day, the game is simple.
Build a back office that supercharges your firm's strengths or defends your competitive moats.
Are we a good fit?
Check out The Fund CXO's FAQs below.
How does it work?We establish a “battle rhythm” with you so that our work-flows merge seamlessly - you get the right info at the right time! Typically this looks likes like: A monthly meeting where we review key assumptions and inputs into your fund model, budget or dashboard (30-45mins). This is a check-in and refresh to make sure we both have up-to-date information. A quarterly deep-dive into your fund model and/or budget during which we can develop different scenarios and talk through specific questions (60-90mins). We offer dedicated office hours for our clients that can be used for when you need answers before our next monthly meeting. In our standard package each client is allowed 2x 30min meetings each month (2x 30 mins sessions).
How can I best leverage office hours?Our office hours plan was designed to give GPs more flexibility outside of our standard “battle rhythm” meetings. Typical office hour conversations include: Prep for important LP meetings. We can help you talk through key aspects of your portfolio construction making your calls richer and more impactful. GPs want to generate dynamic scenarios and test investment decisions against their fund model. How will your next investment impact portfolio returns? Where is your current TVPI or Net IRR and where is it going? GPs want to think through new service providers, hiring plans, or salary negotiations and want to think through the budget impacts. Just like the portfolio company founders your invest in, it’s important to know your numbers! Curious about feedback on service providers? We are constantly trying new tools and speaking with service providers. We’re happy to offer our opinion and introductions as they are helpful.
What is a typical meeting cadence?Our monthly meetings typically happen in the second half of each month (15th-30th) and we work with you to find a day/time where we can consistently meet. This allows for the “dust to settle” from the previous month so that the supporting data (expense reports, schedules of investments, etc) can be relatively final. We will refresh your model, budget, and dashboard each month so that you always have accurate data to facilitate your conversations with founders, LPs and your Partners. We will build a monthly/quarterly schedule and place those meetings on your calendar in advance, but we realize schedules change. We’ll be flexible and work with you. The meetings are designed for your benefit and build a system that enables accountability for our team and yours.
What should I expect?Each month we will send you a specific list of data requests based on the scope of services we provide. We can work with you to automate the process as much as possible. When you provide the data, we will refresh your models, budgets, and dashboards. You will have access to both the underlying models/budgets as well as polished “LP-Ready” reports to facilitate information sharing and quick reference.
What are the contract terms?We structure our contracts to be annual, paid quarterly in advance. You may opt-out of our service by providing quarterly notice (90days). We believe this aligns our partnerships and recognizes the needs of both parties. This helps us plan workloads and ensure quality. This also helps emerging managers plan for expenses and potentially match our fees with a quarterly capital call schedule.
Is this a fund or management company expense?Our fund modeling and fund budgeting service benefits the entire partnership and can be charged as a fund expense. We provide itemized invoicing so that your bookkeeper and/or fund administrator can accurately code the expenses. Our management company and budgeting service is a management company expense and should be coded as such. Our Master your Metrics Dashboard does blend information that GPs need to manage the fund and the management company. We will work with you to provide an accurate and prudent way to allocate this expense.