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VC Monday meetings; Centralize portfolio data
Hi Elena, can you share with us your VC’s background?
I’m Elena, an Associate at Relay Ventures. We are an early-stage fund, based in Toronto and Calgary (Canada) and also in San Francisco. We got our start back in 2008 and just closed our Fund V in the mid of 2022.
Which industry and stage do you mainly invest in? How many active portfolio companies do you have currently?
We currently have around 40 active companies across all five funds. We invest in mainly Pre-seed and Seed companies, focusing on four verticals: FinTech, UrbanTech, PropTech, and SportsTech.
How did you collect and store portfolio company metrics before Rundit?
We have been using an in-house database tool in Google spreadsheets to input company metrics and it operates as a database. Companies send us their metrics via quarterly decks. Sometimes, we have to reach out and ask our companies for some additional information. Every quarter, this has been quite an exercise, including gathering all information and filling in our database. During this process, we had to go to numerous decks on Google Drive or Dropbox where we stored data to pick up the essential information.
But now, with Rundit, we have all the data in one place. So when we receive the data, we just upload it to the platform.
How does Rundit help you enhance productivity in your team?
Rundit’s dashboards save me at least three hours from preparing internal reports every Friday. On Fridays, I dedicated my time to preparing and sending out reports before our meeting the next Monday. What I had to do is to gather all the information about our portfolio companies from the partners and from people involved with those companies.
But now, instead of doing so, we show Rundit’s portfolio dashboards in our investment meetings. When someone wants to discuss a particular company, we simply click on the company’s profile and analyze its dashboards and type in new comments as a portfolio company update. Thanks to this, our team can get the latest updates and an overview of the key metrics such as fund holdings and fair values.
Which functionality(s) do you find the most helpful?
I like the portfolio company summary page which perfectly shows a snapshot of the company.
Another feature is portfolio performance where you can have all the portfolio companies in one table and you can compare the metrics. This is quite a potential if you want to benchmark portfolio companies across the entire portfolio.
Overall, it is useful to see everything in one place.
Does the time-saved allow you and your team to work on the right focus?
Admittedly, reporting is administrative work that we have to do. Nevertheless, the more we do this type of work the less time we dedicate to other priorities such as looking for opportunities, market research, and pipeline building.
Rundit assists us in the reporting process, which unfolds a significant amount of time to move our focus from administrative work to actually generating the pipeline, working on the deals, and then supporting our portfolio companies. Additionally, once we have all the information in one place, we’re quicker in acting or coming up with new creative ideas to help our companies and bring more value to them.
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