what you need to know:

The art of virtual fundraising

To address questions on virtual fundraising, we sat down with some of the sharpest minds in the industry from top firms to see how they’ve embraced technology to connect with investors and hit their fundraising targets. 

Virtual Fundraising in Private Equity

Fundraising—both in private equity and venture capital—is much different today than it was just a year ago. With stakeholders of all types working remotely, for the most part, investor relations teams aren’t able to have in-person meetings with potential investors and must take a new approach.

As firms adapt to a new operational model, many have questions about how best to maintain investor engagement and develop and nurture relationships with new investors. These activities are much more challenging now that the traditional means of communicating and building trust are not available.

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Meet the panelists

To address the questions we hear about virtual fundraising, we held a webinar on how today’s top firms embrace technology to connect with investors and hit their fundraising targets. This session provides insights from some of the sharpest minds in the industry:

Keith Janosky, CFO, Head of Investor Relations, Khosla Ventures

Keith Janosky

Khosla Ventures
CFO, Head of Investor Relations

Angela Sibley, VP, Investor Relations, Lightspeed Venture Partners

Angela Sibley

Lightspeed Venture Partners
VP, Investor Relations

Conrad Gorospe, Head of North American Fundraising, Insight Partners

Conrad Gorospe

Insight Partners
Head of North American Fundraising

Jeff Williams, VP Industry Solutions, Altvia

Jeff Williams

Altvia
VP, Industry Solutions

Kjael Skaalerud, SVP, Revenue, Altvia

Kjael Skaalerud

Altvia
SVP, Revenue

overall assessment

private equity & venture capital climate in 2020

Needless to say, stakeholders throughout the industry had their confidence shaken by the pandemic. Most firms experienced a month or so when there simply was no investing activity taking place, which was concerning. However, even with some “hiccups” in fundraising, activity did start to pick up again, and the firms that were able to regain traction most quickly were those that had fundraising technology in place that allowed them to quickly shift to a more remote operating model.

In fact, our panelists agreed that for all the negative impacts the pandemic has had on business (and life in general), it did produce efficiencies for team members who didn’t have to spend time traveling around the country to meetings. Firms that didn’t have the right technology are now scrambling to get systems implemented. Our panelists also observed that the pandemic has accelerated a number of trends that began before the crisis, such as using technology to share more information in advance of conversations rather than during them.

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“Our fundraise was 30% faster because of virtual meetings and not having the inefficiencies of travel.”

Conrad Gorospe, Head of North American Fundraising, Insight Partners

private equity virtual fundraising
Virtual Meeting

New Workflows

HOW FIRMS BUILd VIRTUAL RELATIONSHIPS

In order to “weather the COVID-19 storm,” many GPs relied on existing relationships and technology to get more out of relationships. This was necessary because most LPs, not surprisingly, tightened their capital commitments. One of our panelists also talked about how pre-marketing the launch of a fund to a now-captive audience helped his firm enjoy a successful launch.

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"When you’re not meeting in person for the long diligent sessions, getting that information to an LP ahead of time for them to do the work on their own is where we were going already but [COVID] has just accelerated that trend.”

Angela Sibley, VP, Investor Relations, Lightspeed Venture Partners

How to differentiate

creating a positive investor experience

The ShareSecure virtual data room and GP-LP engagement platform—which a panelist pointed out was a favorite of LPs before the new remote working model became the norm—is appreciated even more in today’s environment for the way it supports virtual fundraising. Firms are also finding that the right technology, like Altvia’s AIM CRM solution, can help them segment their lists more effectively and send investors information that they truly care about, including engaging with them outside of fundraising, which is more important now than ever.

In addition, having the right systems in place is conducive to more frequent “mini-events” that keep stakeholders interested and engaged, and those systems will also be crucial once the pandemic is behind us, as hybrid annual meetings will continue to be preferred by many in the industry.

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“We use Altvia to track our LPs, our regular communication with regards to fundraising so we can record their interactions, and emails.”

Keith Janosky, CFO, Head of Investor Relations, Khosla Ventures

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The Investor Experience Leader

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