The initial expectation was that our H2 fund would become operational within six months. We actually expected it to take nine months. It took us 18 months before we reached the desired level of operations. At this point we were just 80% ready.
Our early optimism was due to this: Our first venture, we had no idea how many steps we needed to walk through in order to create a venture fund. We know now - because we've codified the process - and the answer is at least around 210. Although there's likely to be numerous more steps to add, we believe that this is the minimum amount.
Are you skeptical about the number? We've made our list accessible for anyone to check it out here. We've taken all our learnings and created an abundance of code to help improve the design of investment vehicles - thanks to First Degree Global Asset Management, MAS licensed fund managers.
We have pooled our resources to design a system that reduces the time required to create investment vehicles as well as to create operational support. This can be accomplished in a matter of days or even hours. What exactly is operational support? Simply put, the term "operational support" is the capability to:
create a website and operating platform
choose from a range of different fund structures
Add an experienced, fully-licensed external fund manager.
Choose from a list of admins or add the fund manager
add your choice of the audit firm you prefer.
Appoint advisors and directors
tap into a global deal origination network
Automated deal analysis
Start an investment committee for investment
do KYC and AML checks
Interact with users who speak several languages or have different currencies.
AI can be utilized to carry out basic DD analysis
Your portfolio should be accessible to stakeholder parties
Automate fund accounting, report generation, or other manual functions
Yes, yes. It's amazing that we could provide this kind of functionality within a matter of hours or days. The initial step in automating a process is to go through it manually several times and then take notes.
After we've done that, those notes are no longer notes. They now serve as documentation entries over the codified processes we designed to enable the quick, easy automated development and commercialization of the Hatcher+ Venture-As-A-Service Technology ("VAAST") platforms. This platform, which has been awarded multiple times, is a multi-award winning and data analytics platform, allows a year to be reduced to just a few days.
The platform was designed to allow for massive scaling. Beginning on October 1 2021 we'll be expanding our list of pilot partners to include new clients. If you're a multifamily office or a wealth management firm bank, private bank, financial advisor, or are looking to help private investors to your clients, let us talk.