FEATURED ARTICLES
Managing your investor relationships is a critical part of running a business. After completing your fundraise, begin regular communications with investors to build a long-term relationship with those who believed and invested in you. This article describes the reasons to send investor updates, their components, and an example investor update…
My new book, The Venture Fund Blueprint, was officially released! You can order it on Amazon here. We took stock of the important questions hundreds had asked us over the years and distilled them into step-by-step guides. We filled the book's pages with answers to building pitch decks, running operations, and fundraising. We are humbled and grateful for the overwhelming support…
If your business is looking to expand, fundraise, or bring on additional stakeholders — you will typically need a pitch deck. Pitch decks serve as a quick overview of your business, your long-term vision, an imminent opportunity, and your ask. Pitch decks allow you to communicate clearly and succinctly to potential stakeholders, while also forcing you to streamline your internal messaging. Here are 14 slides I recommend including in a pitch deck…
As your business begins to reach a broader audience, you’ll need an arsenal of materials to quickly explain your offering. A one pager allows you to distill several ideas about your products or services into one page, with the goal of getting a customer interested to learn more. Here’s how to write a one pager, plus a sample at the end of this article…
Even great business ideas can fail if your target market is too small. Ensuring that your organization is focused on a large enough market will make it easier to generate sustained revenues over time and help your business thrive. Here’s how to calculate market size and whether it’s big enough to be viable…
All organizations face competitors. To ensure viability in a new market, your organization will want to conduct a full assessment of competitors to uncover either (a) market gaps you can exploit to create a valuable niche or (b) opportunities to innovate or defend your advantage to outperform contenders. Here is a 7-step guide of how to find, assess, and take action with regards to your competition…
Once your organization has established the unique value to provide to the right customers, you need to make sure you can keep them. A durable, competitive advantage will put your organization in a favorable position above other contenders battling for your customers, so you can succeed over the long term. Here are some strong and defensible competitive advantages…
If your organization has a compelling product or service that you’re looking to sell, leaping into a new market can be exciting. However, without proper assessment of the new situation, it could end in disaster. First, you’ll need to confirm that your offering provides special value so that you can determine whether your customers will be willing and able to pay…
PITCH DECKS & MESSAGING
For many individuals, LinkedIn can feel overly polished or like a massive arena built for “pro” content creators. However, in practice, it can serve as one of the most valuable tools in your arsenal — not just for visibility, but for deal flow, diligence, investor discovery, network activation, and brand trust. Whether you are actively posting or opting out, here is a spotlight on how to use LinkedIn with intention, or craft a smart alternative…
In a fragmented, fast-moving social media and digital platform landscape, effective distribution is no longer about being everywhere — it is about being intentional. The best distribution strategies are tailored, evolving, and rooted in your community’s behaviors. Whether you are launching, expanding, or sustaining your business’ market presence, your distribution plan is essential…
Brand differentiation has become crucial for both attracting capital from limited partners (LPs) and winning deals with companies. In today’s crowded investment landscape and competitive deal environment, distinguishing yourself from others is essential. This requires more than just savvy negotiations; it demands effectively communicating your unique value…
Crafting an effective 60-second elevator pitch requires a combination of storytelling and clarity. Here are some of the key elements…
Managing your investor relationships is a critical part of running a business. After completing your fundraise, begin regular communications with investors to build a long-term relationship with those who believed and invested in you. This article describes the reasons to send investor updates, their components, and an example investor update…
As a Fund Manager looking to raise capital from institutional investors — a pitch deck is a necessity. Pitch decks serve as a quick overview of your fund, your strengths, your investment thesis, and your plan for the fundraise. This allows you to communicate clearly and succinctly with potential investors, while also forcing you to streamline your internal messaging…
Clear company messaging is important as your business grows to ensure consistency of your narrative internally with employees; and externally with your customers. Here are steps to create clear company messaging (you can find a completed template at the end of this article)…
Relationships are critical for identifying investment opportunities, conducting due diligence, creating value for portfolio companies, fundraising from Limited Partners (LPs), and finding co-investors or sourcing customer relationships for investments. We often see fund managers mishandle relationship-building through transactional exchanges, overkill networking, or the “it’s not what you know, it's who you know” mentality…
One of our favorite things about the early-stage investing ecosystem is our “pay it forward” culture. In the holiday spirit of giving, a few of our favorite Limited Partner (LP) investors have kindly shared their wisdom for emerging venture fund managers. We asked: “What piece of advice do you wish more fund managers knew?”…
My new book, The Venture Fund Blueprint, was officially released! You can order it on Amazon here. We took stock of the important questions hundreds had asked us over the years and distilled them into step-by-step guides. We filled the book's pages with answers to building pitch decks, running operations, and fundraising. We are humbled and grateful for the overwhelming support…
A critical component of establishing your fund’s differentiating investment thesis is how you articulate and execute your vision and strategy. Your vision is your desired outcome, and your strategy is the collection of resources used to reach the desired outcome. Vision and strategy share an iterative and mutually beneficial relationship: the more you clarify your intended outcome, the more apparent your resources become…
Once your business is ready to fundraise a priced round to propel your expansion, be sure to create a clear plan. Raising money for a priced equity round, often called a Series A, requires a methodical approach; and by separating your process into clear steps, you give yourself the best chance of success. Here are the steps to fundraise in 3 months…
If your business is looking to expand, fundraise, or bring on additional stakeholders — you will typically need a pitch deck. Pitch decks serve as a quick overview of your business, your long-term vision, an imminent opportunity, and your ask. Pitch decks allow you to communicate clearly and succinctly to potential stakeholders, while also forcing you to streamline your internal messaging. Here are 14 slides I recommend including in a pitch deck…
As your business begins to reach a broader audience, you’ll need an arsenal of materials to quickly explain your offering. A one pager allows you to distill several ideas about your products or services into one page, with the goal of getting a customer interested to learn more. Here’s how to write a one pager, plus a sample at the end of this article…
LAUNCH & GROWTH
A strong exit and liquidity strategy ensures you act with clarity when opportunities arise and markets shift in your favor. Thoughtful exit planning demonstrates that you can generate real returns, not just paper gains, through a predictable, well-governed process. Approach distributions with the same intention as fundraising, because true credibility comes from returning capital and building a lasting reputation for results…
Events have long been treated as a tool for visibility: a branded cocktail hour, an investor dinner, or a founder showcase. However, perhaps the most forward-thinking approach is to reframe events as something much more powerful — data engines. When designed intentionally, events not only create connections, but also generate proprietary data, as they capture patterns of behavior, reveal what themes are resonating, and indicate where capital or talent are moving next…
Accelerators have become a cornerstone of innovation ecosystems, serving as powerful platforms for driving entrepreneurship, fostering collaboration, and creating economic impact. Accelerators offer unique opportunities to nurture promising companies and amplify their potential, whether run by established firms, emerging managers, corporations, or others. Here is an in-depth look at why running an accelerator may be valuable, how they are structured, and the support mechanisms that ensure their success…
As a fund manager, your portfolio’s success goes beyond the capital you invest. Setting expectations and outlining an onboarding process for new companies are vital for success. This process presents an opportunity to forge relationships, evaluate and enhance the current performance of portfolio companies, pinpoint areas for improvement, and showcase your value. Establishing a transparent workflow for new investments enables fund managers to monitor progress, enhance your community where companies can benefit, and implement corrective measures when necessary…
As fundraising is one of the most challenging aspects of running a fund, it is helpful to have a full plan with a starting point, ending point, and realistic expectations on timing along the way. During the journey of building your fund, there are times you may feel lost, unsure of where to begin or what steps to take next — we prepared a Fundraising Plan Blueprint to outline the requisite steps…
Nimble funds are contemplating whether a physical office space is necessary or preferred. These same fund managers are discussing similar options with their portfolio companies, as startups decide whether their location matters as a variable for collaboration and attracting talent…
To Institutional Investors, the term “Emerging Manager” indicates a venture capital investor with less than ten years of investing experience, fewer than four funds, and under $1bb in assets under management (AUM). However, the terms “Emerging Manager” and “EMVC” are often used in market today to denote fund managers from overlooked backgrounds, funds under $250mm in size, and fund managers with varied investing expertise…
My new book, The Venture Fund Blueprint, was officially released! You can order it on Amazon here. We took stock of the important questions hundreds had asked us over the years and distilled them into step-by-step guides. We filled the book's pages with answers to building pitch decks, running operations, and fundraising. We are humbled and grateful for the overwhelming support…
Before an investor commits capital to a Fund Manager, it is common to conduct due diligence to evaluate potential risks and fit. Diligence helps investors sift through multiple investment opportunities to find the winners, by confirming the facts, profile, and abilities that could signal future success. The following is a sample investor due diligence checklist for funds…
As a new fund manager, it is critical to configure your fund’s basic setup *before* you begin fundraising and investing. A fund setup consists of a clear vision, a differentiated investment thesis, plus a long-term framework for fund structure and operations. Here are the basic steps to set up a fund ahead of your capital raise…
As you build a new product for your business, be sure to conduct pre-launch customer discovery interviews to validate your ideas from the start, saving you the time and money by not building (or re-building) something no one wants. Here are the steps to successfully conduct your pre-launch customer discovery…
Service provider relationship management covers a wide range of operational tasks from finance to legal to technology. For many businesses, it is more effective to outsource certain operational tasks to third-parties and vendors (“providers”), than to handle in-house — especially if your team is small. By leveraging expert providers, you can save time and money where the task can be performed at a lower cost externally. Here are the common providers you’ll want to enlist to streamline your business…
Starting a business can be a daunting yet rewarding endeavor for an entrepreneur. Begin with a checklist to ensure you stay organized and hit the right milestones from the beginning. Follow this checklist to guide you through your business’s launch…
If your business is operating with a lean team and looking to hire for expansion, you’ll need to choose your next hire wisely to address your company’s most pressing need. Most early business dilemmas can be addressed across Product, Sales, or Operations. Here are some common business challenges that present early, and who you could hire to help….
If your business wishes to accelerate revenue and reach more customers even faster, consider taking deliberate steps to scale. Scalable business offerings can be delivered to more and more customers for a fraction of the cost on each additional unit — meaning it takes less time/money/production to deliver your offering to customer #1,000,000, as it did to customer #1. Here’s how to scale your business…
MARKET STRATEGY & OPERATIONS
My new book, The Venture Fund Blueprint, was officially released! You can order it on Amazon here. We took stock of the important questions hundreds had asked us over the years and distilled them into step-by-step guides. We filled the book's pages with answers to building pitch decks, running operations, and fundraising. We are humbled and grateful for the overwhelming support…
When your company’s offering is ready to “go-live”, it is important to create a Go-to-Market (“GTM”) plan before launching publicly. A GTM plan is a comprehensive strategy that details how your offering will reach customers. Here are the 4 main components used to build a GTM plan (most applicable to B2B & B2B2C companies with medium to long-term sales cycles)…
As your business adapts to these ever-changing times, survival is everyone’s first priority. When the economy begins to recover, you will need to adopt new tactics to succeed. Outside of the more obvious transitions to virtual/digital platforms, there are other important areas to address across Sales, Operations, and HR. Here are strategies to ensure your business thrives post-COVID-19…
Strong customer service is a critical part of retaining customers, and growing your business. Studies show that if you can successfully retain just 5 percent more customers, you can increase your profits by over 25 percent¹. As you launch or expand your business, ensure that you are executing on these customer service basics…
When your business is suffering tough financial times, there are two main strategies to bounce back quickly — (a) cut costs, or (b) increase sales. In this article we will focus on the latter and the tactics you can use within 60 days to quickly improve sales and save your business…
Even the most successful businesses can face hard financial times. When in crisis, there are two main strategies to save your business quickly — (a) cut costs, or (b) increase sales. By taking immediate action, you can revive your business or buy time to create a long-term recovery plan. In this article, we will discuss the first strategy of cutting costs, and tactics you can use in 60 days to have the largest impact and save your business…
Operations management is a vital skill your business must have to run their company efficiently and save money over the long term. Here are some key elements of operations, and tips on how to optimize each within your company. For most businesses, there are two ways to increase profits: (1) increase sales, or (2) decrease costs…
If your business is stuck spending more time on proposals than working for your customers, consider productization to break the cycle. Productization is creating a process or package to make your offering scalable and repeatable. Whether people or technology are operating behind the scenes, productization allows you to better qualify customers and deliver solutions, without needing your full team present at every stage…
Even great business ideas can fail if your target market is too small. Ensuring that your organization is focused on a large enough market will make it easier to generate sustained revenues over time and help your business thrive. Here’s how to calculate market size and whether it’s big enough to be viable…
All organizations face competitors. To ensure viability in a new market, your organization will want to conduct a full assessment of competitors to uncover either (a) market gaps you can exploit to create a valuable niche or (b) opportunities to innovate or defend your advantage to outperform contenders. Here is a 7-step guide of how to find, assess, and take action with regards to your competition…
Once your organization has established the unique value to provide to the right customers, you need to make sure you can keep them. A durable, competitive advantage will put your organization in a favorable position above other contenders battling for your customers, so you can succeed over the long term. Here are some strong and defensible competitive advantages…
If your organization’s product offering is not desperately needed by your customers, your new market launch will not be viable. Once you have an initial customer or two, the next step in expansion is to seek out multiple customers. You’ll want to confirm you are targeting the right customers who can pay for your product, to ensure sustainability in the new market. Here are the customer attributes to focus on…
If your organization has a compelling product to sell, potential customers need to know the measurable results expected by choosing you before they’ll buy. Similarly, if you are fundraising to expand your product, having clear and measurable outcomes will help entice a potential investor to fund you. In this installment of our Market Viability series, we’ll continue a market sizing analysis by using the impact, growth, and scale of your product’s value to determine demand…
If your organization has a compelling product or service that you’re looking to sell, leaping into a new market can be exciting. However, without proper assessment of the new situation, it could end in disaster. First, you’ll need to confirm that your offering provides special value so that you can determine whether your customers will be willing and able to pay…
FINANCE & LEGAL
Effective cash management and maintaining a strong governance structure are essential for financial stability, regulatory compliance, and long-term success of your business. To ensure smooth operations, focus on three core areas: investor relations, bookkeeping, and staying up to date on filings. An effective investor relations process is critical for building trust with limited partners (LPs), allowing stakeholders to stay informed and aligned with your goals while securing the necessary cash to execute the mandates of your business…
Diligent quarterly and annual reporting for your business is essential for audit preparedness, whether an audit is imminent or not. Accurate record-keeping not only saves time and reduces stress in the event of an audit, but also ensures control over financial affairs. As a bonus, thorough reporting sets the foundation for accurate performance tracking, regulatory compliance, and tax adherence…
Last quarter, private fund managers experienced a significant change in the financial landscape, marked by the introduction of new rules and amendments under the Investment Advisers Act of 1940 by the U.S. Securities and Exchange Commission (SEC). These regulatory adjustments are positioned to alter the dynamics of investor negotiations and the formulation of strategies for venture fund managers, especially in their interactions with anchor investors…
In this article we will share an overview of compliance best practices and discuss the impact of the new SEC ruling for emerging managers venture capital (EMVC) with the knowledgeable minds at Cedar Mountain. One of the highlights in creating The Venture Fund Blueprint has been the opportunity to connect with each of you, hearing your questions, feedback, and viewpoints on setting up a top-tier venture firm rooted in operational excellence. Compliance is crucial to a venture capital (VC) fund, regardless of its size, for the long-term advantages of risk mitigation, investor trust, and operational efficiency…
In this final segment of our three-part series on legal fund formation, we will delve further into the legal documentation needed to establish your firm, with insights from the experienced professionals at Wilson Sonsini Goodrich & Rosati. This segment will (A) highlight which sections of the Operating Agreements are often negotiated, (B) outline the key terms covered in the Operating Agreements, and (C) share sample Operating Agreement documentation for reference…
In this continued three-part series on legal fund formation, we will offer a thorough overview of the crucial legal paperwork necessary to establish your firm, with insights from the experienced professionals at Wilson Sonsini Goodrich & Rosati. In this second segment, we will (A) highlight which sections of Limited Partner Agreement (“LPA”) are often negotiated, (B) outline the key terms covered in the LPA, and (C) share sample LPA documentation for reference…
This three-part series on legal fund formation provides a comprehensive overview of the essential legal documents required for establishing your firm. We will explore which components are standard and which ones offer room for negotiation and customization, drawing insights from the experienced professionals at Wilson Sonsini Goodrich & Rosati…
Unlocking the ability to assemble an investor syndicate for speed, efficiency, capital access, and streamlined management with the popularized use of SPVs (special purpose vehicles) has been game-changing in the venture industry. SPV has become a lexicalized acronym with most fund managers likely participating in them as common practice…
This is the third installment of our 3-part series on venture fund tax planning and strategies in collaboration with some of the knowledgeable tax minds over at Andersen. In this final piece in the series, we will cover planning and preventable mistakes with Pass-Through Entity Tax (PTET) elections and Qualified Small Business Stock (QSBS) exclusions and rollovers…
In this second installment of our 3-part series on tax, we will cover lessons learned in fund tax return preparation, best practices for substantiating and tracking fund expenses and reimbursements, filing obligations for general partners (GPs) in different states, and extended tax filing and payment deadline updates for those fund managers in California who qualify for disaster relief as a result of the recent storms…
Many of the questions received from our book, The Venture Fund Blueprint, involve tax compliance and planning. Both are critical components of building and maintaining a successful fund. In this 3-part series on venture fund tax planning and strategies, we will share some commonly asked tax questions from emerging fund managers…
When the fundraising close occurs, these emerging managers then expand their focus of efforts toward company building — having a disciplined investing pace, facilitating a robust deal flow, conducting deep and thorough diligence, cultivating their portfolio companies, and creating a foundation of operational excellence. We like to call this developing a “durable franchise”…
My new book, The Venture Fund Blueprint, was officially released! You can order it on Amazon here. We took stock of the important questions hundreds had asked us over the years and distilled them into step-by-step guides. We filled the book's pages with answers to building pitch decks, running operations, and fundraising. We are humbled and grateful for the overwhelming support…
Choosing a potential lawyer for your fund is an important decision, helping you formalize your legal structure while guiding you through the obligations of becoming a fund manager. Here are some criteria to use in interviewing and picking your fund’s lawyer…
Financial awareness of your business is a critical part of tracking your performance. Once equipped with accurate financial information, you can make important business decisions that can mean the difference between a healthy company or failure. Here’s a quick guide on what you need to know about your business’s finances…