Base10 Partners, the first Black-led VC firm to cross $1 billion in assets under management (AUM), has found a valuable partner in Consero.
Jarred Morales-Mckinzie, Director of Finance at Base10 Partners, shares how Consero’s Finance as a Service (FaaS) model has been crucial in supporting the firm’s rapid growth from a lean launch team to managing $1.8 billion AUM across six active funds and 100+ portfolio companies by ensuring efficient back-office operations.
He highlights the strategic lift Consero provides in accounting, HR, compliance and technology adoption, especially after the 2023 banking-sector turmoil.
Running the Back Office at a Hyper-Growth VC
As Director of Finance at a rapidly scaling VC firm, Morales-Mckinzie oversees Base10’s operations while the investment team chases deals.
The scope of his responsibilities include:
- Manages 20+ employees in multiple jurisdictions and over 30 active LLCs & LPs.
- Coordinates funding once a term sheet is signed and supports ongoing portfolio needs.
- Day-to-day tasks include AP, AR, payroll, compliance and liaising with outside counsel.
Why Consero’s Outsourced Model Is Mission-Critical
For Jared, early skepticism about outsourcing turned into reliance once the workload became clear.
“Without Consero’s help, I would have been dead in the trenches early on,” says Morales-Mckinzie.
Skip complexity and gain clarity with Consero’s cutting-edge solutions.
⚡ Rapid implementation • Real-time dashboards • Scalable technology
Finance as a Strategic Function Post-SVB
The 2023 regional-bank failures reframed how General Partners view back-office value.
- Protecting LP capital became the utmost responsibility.
- GPs now see the finance team as forward-looking risk managers, not just a cost center.
- Real-time peer insights from Consero during the SVB weekend informed Base10’s response.
“There’s been a fundamental shift—our GPs understand the CFO function does provide value because we manage a lot of LP capital.”
HR & Compliance: Navigating People Risk in Multiple States
Consero’s value extends beyond basic administrative tasks, providing strategic guidance and expertise in navigating complex financial and regulatory landscapes.
After rapid hiring in California and beyond exposed hidden employment pitfalls, Consero’s HR wing set up expense, leave and formal HR policies “from scratch.”
- Advisory on diverse leave rules, tax quirks and sensitive personnel issues.
- Anonymized best-practice data from 30+ similar clients to counter group-think.
“The HR function is invaluable—that’s where a lot of the risk is when you grow.”
Technology Adoption & Continuous Improvement
In Morales-Mckinzie’s view, the finance office must innovate as fast as the tech start-ups it funds.
As Base10 has grown, Consero has adapted to its evolving tech needs.
- Consero adapts to new AP, leave-management and procurement tools suggested by Base10.
- Willing to pilot emerging software—even when time-consuming—because dividends follow.
- Centralized systems let Base10 “piggy-back” on Consero’s backend without rebuilding in-house.
“Technology is going to be crucial—how quickly a partner can evolve with us matters.”
Cultural Fit: Scrappy, Responsive, Over-Delivering
Jared values partners who match Base10’s fast-paced, solution-oriented ethos. Much of the Base10-Consero partnership’s success can be attributed to strong cultural fit and a collaborative approach.
- Consero “under-promises and over-delivers,” often beating Friday ETAs on “ASAP” requests.
- Provides hedged recommendations that can be shared confidently with GPs and LPs.
- Flexibility extends to integrating portfolio-company software into Consero’s stack.
“It’s always under-promising and over-delivering—that rings true with Consero.”
Advice to Emerging Managers Considering Outsourcing
Jared advises that CFOs and lean VC teams can replicate Base10’s leverage if they plan.
“If it’s done right…the model works—even when you wear the CFO, COO and CCO hats at once.”
Scale Smarter, Sleep Better with Capable Partners
Base10 Partners’ meteoric rise stems from smart partnerships that offload non-core tasks, letting the firm concentrate its talent where it delivers the greatest value.
Consero’s outsourced finance platform keeps you compliant, frees your team to chase the next breakthrough, and equips you to scale confidently.
Ready to accelerate? Schedule a call with Consero today and turn finance into fuel for your next big win.
