Working with VCs and early stage companies, I’ve been seeing more and more SaaS tools that help automate workflows. As a former employee of various large technology firms, I understand how different the sales cycle can be to implement a new platform for large enterprises so this might not be for those teams. But, from my perspective, there are tools I would recommend to emerging VCs, or startups, that have just been formed to create a more collaborative workflow for a decentralized team.
My recommendations are my own personal opinions when working with these organizations and highlight the various products that I found useful.
, it is true that there are too many tools out there to choose from so I wanted to recommend the ones that I felt had the most capability and allowed for an easier experience to onboard with a focus on balancing that capability, ease-of-use, and price.
For VCs, there is really one north star, optimization of time. From there, that can be broken out into three buckets: LP collaboration (back-office), business operations (front-office), and portfolio collaboration (back + front office).
LP collaboration focusing on the back-office tasks that include tracking potential and current LPs, reporting, and fund administration.
Business operations that focus on deal-team activities including sourcing and fielding deals, diligence, and storing data towards the goal of writing term sheets.
Portfolio collaboration focusing on the relationship between investors and portcos including tracking portfolio metrics, introducing founders to advisors or potential employees, and generally helping them scale.
Thus, if I were to start a venture fund today, I would pick the following stack: