#64: "Where Do I Start as a VC CFO?"

#64: "Where Do I Start as a VC CFO?"

Hi Everyone! 👋 Welcome to the new members of @TheFundCFO crew! Appreciate you reading and sharing last week’s post (#60 Emerging VC Fund Tech Stacks), our most-read post in 2023. Check it out!

Every Tuesday/Thursday, we bring you actionable tools, real-world experiences, and insider insights for #VC CFOs/Finance Pros and fund managers, #LP investors, and general industry enthusiasts/people who want to learn :).

“All my best successes came on the heels of failure.” -Barbara Corcoran

"Where Do I Start as a VC CFO / Finance Pro?"

This is the question I heard from an old friend recently. He had 15+ years of investing and operations experience and was now one of three partners at a $100m fund. In addition to his day job of investing, one of his new responsibilities was finance and operations. “How do we bring the three partners together and build a real business?”

The real answer is that “it depends” for every fund. There are nuances and individual preferences for certain organization systems, processes, and technology based on past experiences and recent developments (i.e. software, AI, etc.).

But saying “it depends” doesn’t help!

Remember that you want to build your VC firm for your customers and shareholders (portfolio companies and investors). You want to allow your internal team to operate as efficiently as possible, both individually and collectively. So where to begin?

The Top 5 Resources to Reference When Building a VC Firm

  1. #60 Emerging VC Fund Tech Stacks: “Emerging VC back-office complexity is a hell of a thing. The problem for most new managers is that there is an absence of what 'good' looks like when selecting fund admin, tax, and audit partners.” -Eric Bahn, The Hustle Fund

  2. Top VC CFO Posts of Q1'23VC Fund Model & Budget, Key Legal Terms, Finance & Legal Checklists all in one place!

  3. ILPA Emerging Manager Toolkit: take a look at what big institutional investors say they want. You don’t have to do it all day one but helpful to think about as firms grow from $10m to $100m+ (bigger investors want more)

  4. #21 VC Fundraising 101: Track Record & Data Room: here’s the detail you need for fundraising outreach and due diligence

  5. Founder Experience 101: insights from Maria Tangarova (Founder Experience) and Greg Clayman (Talent & Education) on streamlining company support!

Cool pic of the day is The Meteor (best coffee spot in ATX)

That’s all for today folks! Thanks for your support and spreading the word! Share this on Twitter or LinkedIn to help grow “the crew!”