Our initial expectations were that our H2 fund would be operational in just six months. Actually, we expected it to take nine months. We actually spent 18 months to reach our desired stage. At that point, only 80% of our operations were in place.
One of the factors that contributed to our early optimism? We didn't know the number of steps needed to set up a venture fund when we began. We now know this because we've documented the process. It is at minimum 220. Although there's likely to be numerous more steps to add, we believe that this is the minimum number.
Don't believe the number? The list is now accessible to anyone who wants it. Better still, we're using our knowledge, developed a ton of code and have created an easier method to create investment vehicles by utilizing licensed fund managers with MAS licenses First Degree Global Asset Management.
Using the resources of our combined teams, we've created a system to speed up the process needed to create an investment vehicle and set operational support from months to days - or even hours. What is operational support? Operational support refers to simply the capability of:
Make a website.
You can choose from many fund structures
Incorporate an expert, licensed and experienced external fund manager
Include an administrator to your fund (or select from a variety of)
Select an audit firm
Nominate directors and advisors
tap into a global deal origination network
Automated deal analysis
Start an investment committee
Perform KYC and AML checks
Interact with users who are using multiple languages and currencies
Make use of AI for basic analysis and Do the same with DD.
Access your portfolio to stakeholder
Automate the process of fund accounting, reporting and other manual tasks
We're aware of. It's amazing that we could provide this kind of functionality in just a couple of days or hours. The first step in automating a process systematically is to manually complete it many times. Take notes.
It's done now, and those notes don't anymore exist They are just the entries in the documentation that were created to allow easy, fast, automated creations of investment vehicles. Also, they enable the commercialization Hatcher+ Venture-As-A-Service Technology ("VAAST") - - the multi-award-winning data analytics platform that cuts the duration of a year down to a mere few days.
This platform was built to allow serious scale. The first day of October 2021, we'll add new customers to our pilot partners. If you're a multifamily business or a wealth management firm bank, private bank, financial advisor or are looking to facilitate private investment for your clients, let us discuss it.