Going from Fund to Firm
Recorded session for GPs and VCs who are going from Fund I to Fund II and beyond with the Graph Advisors and Foresight.is
Thank you all for those of you who have attended a recent event, subscribed to our newsletter for VCs, or have downloaded one of our resources for VCs.
The Graph Advisors team offers Fractional CFO/COO services and a vcOS foundation based on a decade+ experience building firms, providing operating leverage, and investing in technology companies. We love helping GPs get back to what they love doing most - and taking care of the rest.
We recently teamed up with Taylor Davidson from Foresight hosting a discussion for GPs moving from Fund I to Fund II - building enduring firms. Below is a video of that session.
Tactical Takeaways:
The transition from Fund I to Fund II needs a roadmap
The parts of the roadmap are; Relationships, The Pitch, Team, Execution Plan
Each of these parts is essential. Many GPs ask about the software and systems they should be using, when the reality is that your calendar and your accountability matter more than the CRM you choose.
In this discussion we get into each of the waypoints on the roadmap and have a deep discussion and Q&A at the end.
Highlights:
Relationships - This is all about your relationship management, connections, and outreach. Again, its not about the software you choose its about communication, references, and asks from LPs, founders, and advisors. Do not be afraid to ask for intros. Existing LPs are typically excited about what you are building and need something they can pass along to friends to not only justify their investment but also to have them join the ride.
The Pitch - The story behind what you are doing is essential. Being able to distill down your thesis into a few sentences or a few words make the word-of-mouth narrative easy to pass along to investment committees, partners, and anyone else who needs a brief summary.
The Team - Who brought you here may not be who can bring you there. It’s time to review, measure, and negotiate what your firm needs today. This means looking at full time employees and service providers.
The Execution Plan - This is about building the machine to bring everything together. When do you want to do your 2nd first close. When are you going to work on this (your calendar is the best indicator). Who can help you do it. Why is this a priority. does your 2nd first close look like?
If you need help and guidance on any of the steps above we would love to talk to you at Graph Advisors. Also, check out the tools and resources (like a LP CRM and a Data Room Checklist) we’ve shared previously.
Thank you to Taylor and Foresight.is for hosting a great event.