BaseVenture: Applying SaaS Technology to the Middle and Back Office

Aug 12 2016 | 3:17pm ET

Editor’s note: Much of fintech’s promise lies in the utilization of technology and connectivity to connect and automate legacy middle and back-office functions that have long been inefficient, costly and error-prone. The team at BaseVenture has developed an intelligent, scalable, affordable and secure platform, aimed specifically at alternative investment managers, that seeks to eliminate reliance on common but disconnected tools like spreadsheets, email, and PDFs to simplify and streamline both administration and management. 

Company name: BaseVenture

Locations: San Francisco Bay Area, CA and Carson City, NV

Website: www.baseventure.com

Fintech Sector: Alternative Investments

Elevator Pitch: Innovative Software-as-a-Service platform that simplifies & automates the administration and management of alternative investments.

Year Formed: 2015

No. of Employees: 15

Stage: In Revenue

Notable investors: FIS, Battle Born Venture/State of Nevada

Tell us a bit about your company and what it does?

BaseVenture is a financial services technology company that is helping the alternative investment industry simplify and modernize how private funds are managed and administered.  This industry has long been forced to rely on antiquated technology that has resulted in inefficient processes that complicate operations and slow growth. 

Our software-as-a-service (SaaS) platform, FundManager.io, changes all of that. It utilizes modern technology to automate private fund management and administration from end to end. The result for our clients is more time, money, and energy to focus on growth and satisfying investors.

How is your company different than others in the same space? 

BaseVenture’s FundManager.io is the only SaaS solution created to specifically focus on solving the inefficiency of operations and compliance requirements for alternative investments. 

The platform interconnects and automates middle and back-office functions of fund management, thereby eliminating the reliance on multiple disconnected tools like spreadsheets, email, and PDFs. By providing users with data intelligence, reporting, workflow management, and document storage, FundManager.io radically simplifies the process of fund management and provides a platform that is intelligent, scalable, affordable and secure. 

What is your revenue model?

We are a software-as-a-service, so our revenue model is based on software license fees

Who is your target market?

Fund administrators, private banks and trusts, fund managers, family offices, wealth advisors and more.  We also help RIA platforms and custodians standardize their approval processes and better manage investments on their platforms.

How big is the opportunity?

Big. The alternative investments industry that BaseVenture services is the fastest growing category of investments, and is projected to grow to $7T by 2020, with 40,000+ funds with less than $1B in AUM in North America alone.

Why are you and your team capable of succeeding?

Our team not only has the track record of already revolutionizing the FinTech space once before, but also the proper composition to meet the specific needs of our clients. 

The leadership of BaseVenture partially consists of two of the former C-level executives of mFoundry, one of the earliest pioneers of mobile banking. mFoundry helped to redefine the way people bank by introducing the then-crazy notion of banking on the phone. The company later grew to become the leading mobile banking and payments company in North America before it was sold to FIS in 2013. Key engineering leadership from the technology team that built mFoundry from the ground up are now replicating that success here at BaseVenture to create a world-class product. 

What also distinguishes our team is its overall composition: the leadership of the company is comprised of technology, product, and alternative investment experts. In fact, our head of Product ran his own hedge fund for a decade, which helps ensure that we’re better equipped to tailor our product to the specific pain points and needs of the private fund management and administration industry.

What is your company’s next target/milestone?

We are focused on helping to solve key industry pain points that affect all of our customers –things like improving the subscription agreement process as well as helping our clients more easily fulfill compliance requirements

Can you tell us one unusual fact about your company?

We got a nice “shout out” by Brian Sandoval, the Governor of Nevada, when he said “We believe that smart investments in promising technology companies like BaseVenture will help increase Nevada’s competitive edge as an incubator for the next generation of innovators and entrepreneurs.”


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