We believed that our H2 fund would start operating in just six months. It took us nine months. It took us 18 months before we reached the level of operation we wanted. At this point we were just 80% ready.
One of the reasons we were so optimistic was this: At the time of our first venture, we didn't know the number of steps were required to create a venture funds. We are now aware of the number of steps necessary to set up the venture fund. We know there are numerous steps that should be added to the list, but we think that the minimum number is at least 210.
Are you skeptical about the numbers? You can find our entire list here. Additionally, we've utilized our learnings, created a lot of code and developed an improved method of creating investment vehicles using First Degree Global Asset Management, MAS-licensed fund mangers.
Our combined resources have allowed us to develop a strategy that can cut down the time required to create an investment vehicle, as well as build up operational support. It can take a few days to do this. It could take hours. What exactly is operational support? We're referring to the ability:
Create a site.
Select from a range of fund structures
Include a licensed and experienced administrator of external funds
add a fund administrator (or select one from a variety of administrators)
Choose your preferred audit company
Designate directors and advisors
tap into a global deal origination network
Set up an automated process to analyze deals
Establish an investment committee
AML and KYC checks
Interact with users who use multiple languages and currencies.
AI can be used to perform basic DD analysis
enable stakeholder access to your portfolio
Automate fund accounting, report generation, or other manual functions
Yes, we can. It is amazing that we can attain this level of efficiency in just a few hours or days. In order to automate a procedure in a systematic manner first, you have to go through the pain of performing it manually over and over again - and make notes.
That's done. These notes are no more notes. They are now documents for the processes we employed to develop investment vehicles. We also made commercial use of Hatcher+ Venture As-a-Service Technology ("VAAST") The multi-award-winning technology that enables a year of work to be compressed into only a matter of days.
The platform was designed to scale up. Also, on the 1st of October 2021, we'll start adding clients who are the Pilot Partners. If you're a multifamily office, a wealth management, a private bank, financial advisor, or you're looking to help private investors to your clients, we're happy to talk.