Key Takeaways
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Portfolio monitoring trigger: Gale Wilkinson treats under six months of runway as the line for intervention, because options narrow as runway runs toward zero.
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Reporting contact by stage: A fund outgrows the founder as a reporting contact, and past a certain stage the request routes to a COO, CFO or the company's accountant.
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Breakeven blind spot: A fund should report expenses and EBITDA alongside revenue, because a company at breakeven and still growing sits on the books at a stale last-round valuation.
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Marking policy: A fund holds a company at the last financing's post-money valuation, then writes down faster than up, so a write-off never surprises LPs.
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Missing submissions: A fund ships the tear sheet with the data section marked not available and fills the qualitative update from any call or emailed note already on hand.
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Build against buy: A fund surveys the market, buys what fits the budget, and glues the gaps with low-code work, because no software covers an early-stage back office end to end.
As more capital flows into venture as an asset class, investors increasingly compete for LP dollars and space on the cap table from the best founders they work with. Gone are the days when capital is enough of a differentiator for a VC fund to get on a hot startup’s cap table.
Considering the average VC + Founder relationship is 8-10 years (longer than the average marriage in the US) — founders are beginning to look for a true partner out of a VC fund. For a VC fund or emerging fund manager to stand out among other funds, they need to have the optimal data and systems in place.
Gale Wilkinson, Managing Partner and Founder of Vitalize Ventures, has led investments in over 70 companies and deployed $50M+ of capital. During her time at Vitalize and Irish Angels, Gale has turned into a leader in the space as emerging managers and founders turn to her for advice on all aspects of fund and startup building.
Gale joined us on February 15, 2022 to discuss how and why VC funds should build a system to track and monitor their portfolio companies.
Topics discussed during the webinar include:
- The history and founding of Vitalize Ventures
- The resources, network, communities, that has Gale has leveraged as she grows her managing partner skillset
- How she put together the Vitalize tech stack
- What metrics and data she collects from portfolio companies
- How she reports portfolio performance to her LPs
Visible for Investors is a founders-first portfolio monitoring and reporting platform. Schedule time with our team to learn more.
Frequently Asked Questions
Why is capital alone no longer enough to win a place on a strong startup's cap table?
Capital has stopped working as a differentiator because more money keeps flowing into venture as an asset class and founders now choose between funds on what each one offers beyond the cheque. Funds compete on two fronts at once, for LP dollars and for room on the cap table of the founders they want to back.
What do founders look for from a VC fund beyond money?
Founders look for a genuine partner, because the working relationship with an investor runs for years rather than months. A fund that wants to be chosen puts the right data and systems in place, since those are what let it show up as a partner across the life of the investment.
Who is Gale Wilkinson?
Gale Wilkinson is the Managing Partner and Founder of Vitalize Ventures, and she has led investments in more than 70 companies and deployed over 50 million dollars of capital. Emerging managers and founders come to her for advice on fund building and startup building, drawing on her time at Vitalize and Irish Angels.
Which topics did Gale Wilkinson cover in this portfolio monitoring session?
Gale Wilkinson covered the founding of Vitalize Ventures, the resources and communities she drew on as she built her managing partner skillset, how she assembled the Vitalize tech stack, and what metrics and data she collects from portfolio companies.
