Why BlackWood Ventures has trusted our Portfolio Intelligence Solution since Fund I.
While raising their first fund, BlackWood Ventures aimed to build a data-driven tech stack to optimize investment decisions and secure top returns for their LPs. By adopting Vestberry as their single source of truth from the beginning, they saved time on data management, reporting and gained insights to support strategic investment decisions.
About BlackWood Ventures
BlackWood Ventures, a data-driven venture capital firm based in Copenhagen, Denmark, focuses on European startups in Cleantech, Fintech, and Web 3.0. Founded and led by Bastian Larsen, a Forbes 30 Under 30 honoree and former BlackRock executive, BlackWood aims to open doors for Nordic investors to invest in top startups across Europe.
With connections to over 100 accelerators, incubators, and universities across 15+ European countries, and an Investor Club comprising over 1200 angel investors, BlackWood boasts a robust deal flow to pursue its goal. With their philosophy grounded in a data-driven approach, the fund team is building an advanced tech stack consisting of a brew of internal and external tools to support their investment journey.
Vestberry seemed to be the most modern and specialised software for a VC Fund like us, and also providing a very reactive sales support and training, which is helpful for smaller organisations like us. Easy onboarding, intuitive design. Well made = easy to learn. Simplistic design language. If unsure about anything just pop into the Knowledge Hub.
Adopting Vestberry right at the start of the first fund helped BlackWood to:
Avoid scattered data & stay updated on the fund performance
From the start, Vestberry became the single source of truth for all portfolio data, including KPIs, investments, ownerships, and legal documentation for each deal. This eliminated the hassle of managing multiple spreadsheets or drives and gave the team easy access to dashboards with automatically calculated metrics like IRR.
Keep up with the progress of portfolio companies
The BlackWood team can request and store KPIs from their portfolio companies directly within Vestberry. Through Vestberry’s Investee Interface, they can invite and notify company founders or team members to fill out customizable KPIs at set intervals. Having this data from the start enables BlackWood to monitor their companies’ progress and provide timely support when needed.
Make smarter reinvestment decisions
If BlackWood Ventures hadn’t adopted Vestberry early, they would have lost crucial data for decision-making. Thanks to Vestberry’s powerful analytics, the team can turn data into valuable insights about their allocated capital—such as invested capital per country, stage, or industry—helping them make smarter re-investment decisions.
Create ready-to-send LP reports in minutes
Automated LP reporting saves the BlackWood team precious time, aggregating relevant KPIs and producing clean reports on each portfolio company while ensuring compliance with industry standards. Freed from chasing data the team is able to concentrate on what matters most: driving success for our investments and making great returns for our LP’s.
Leverage their data for the next LP fundraising
Easy access to performance metrics from the first fund will be crucial for raising the second fund. The team is confident that they will be able to promptly answer any track record-related question using data stored in Vestberry.
If we hadn’t adopted it early, we would have lost important data & insights relevant to our decision-making. We think that such a software is a must have, and the longer you wait to install one, the more it is a headache to catch-up on all the past transactions and portfolio companies reports.
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How Quantonation automated its fund processes with Vestberry
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.