How Quantonation automated its fund processes with Vestberry
What were the main pain points? Did Vestberry meet the expectations? What are the main areas of improvement?
Quantonation, established in 2018 in Paris, France, is the first early-stage VC fund dedicated to deep physics and quantum technologies.
Currently, Quantonation operates with an AUM of € 50 million and has 18 portfolio companies under its belt. The fund aims to support the transition of these technologies into commercially available products for the industry. Its investments are mainly at an early stage (Pre-seed, Seed, Series A) with a focus on Europe and North America, as these markets have the most favorable environment to grow quantum technologies startups.
To maintain a high level of transparency and minimize time spent consolidating data. The fund previously used Excel for portfolio management and reporting, but it was time to switch tools: its range of investments was reaching a critical mass at which the number of Excel sheets it had to maintain was becoming unmanageable.
Quantonation was in search of reliable software for its fund operations back in May 2021: it needed a solution that could help it get insights into its investments and portfolio performance.
THE GOAL: To maintain a high level of transparency and minimize time spent consolidating data. The fund previously used Excel for portfolio management and reporting, but it was time to switch tools: its range of investments was reaching a critical mass at which the number of Excel sheets it had to maintain was becoming unmanageable.
TECH STACK BEFORE: At Quantonation, Excel was used alongside Airtable and Slack to gather any additional data. The usual process at Quantonation consisted of fund managers asking their portfolio companies for information to fill out quarterly reports and then drafting reports for LPs. A new solution was necessary, as this process was proving inefficient.
Client identified 3 areas of improvement upon Vestberry implementation
Single source of truth
Data collection within fund
LP reporting standards for the investors
We needed software that could serve as a single source of truth for me and my colleagues while having a reliable source for reporting to our LPs. We found these two aspects the most crucial. Vestberry proved it could cover both of these and we started the onboarding process.
Solution powered by Vestberry
Quantonation started the onboarding process right away with a focus on reporting to LPs and collecting KPIs from its portfolio companies, all consolidated in clear dashboards. Thanks to Vestberry, Quantonation now has a single place to review its overall fund performance along with the performance of its portfolio companies.
Quantonation is now able to leverage a high level of transparency for all its investments with the most up-to-date data for each portfolio company.
Fund managers can now focus on deal-making and analyzing insights instead of spending their time buried in dozens of Excel sheets.
The most important benefit Vestberry provides is how it empowers the team at Quantonation to stay on top of their investments and prevent business-building errors. The team now has rapid, direct access to fund and portfolio company information. It also recently invited all its LPs into the system to keep track of automated and consistent reports.
More feedback from client's team
It saves us a lot of time when we collect information from our portfolio companies. Also, we like how Vestberry combines the data from multiple sources into dashboards, which we can customize according to our preferences.
The overall experience using Vestberry, and the onboarding process itself, was very pleasant. Now we are able to get most of our financial reporting done at the click of a button.
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How long does it take to onboard Vestberry and what are the best practices?
Norrsken team started using Vestberry in just 4-weeks. The dedication from the client's side during the onboarding is essential. Understanding this, the client can have a single source of truth, the right numbers in place, and higher process efficiency within a few weeks.