Discussion with Base10 Partners – First Black-Led VC Firm To Cross $1 Billion AUM

Updated: March 30, 2024

In this Consero client discussion with Jarred Morales-Mckinzie, Director of Finance at Base10 Partners, shares his experience in a venture capital firm with $1.8B in assets under management. Base10 is the first black-led VC firm to cross $1 billion AUM with a new fund and chose to partner with Consero because we specialize in finance and accounting for investment management businesses in addition to software and professional service orgs.

Learn why Base10 chose Finance as a Service and how Consero provided:

  • An integrated and custom accounting platform with tested processes, procedures, and solutions
  • An experienced finance & accounting team to act as a trusted advisor
  • Automation of data flow with built-in segregation of duties
  • Established controls and transparency to mitigate risk and support the fast-growing firm
  • Freed executives from spending time on F&A so they could focus on strategy and closing deals

To learn more, visit us our website: https://conseroglobal.com/request-a-consultation/

Related Resources

How Finance as a Service is Delivered with Pre-Built Integration to Enterprise-Level Financial Systems
Article

How Finance as a Service is Delivered with Pre-Built Integration to Enterprise-Level Financial Systems

In today’s highly digitized business environment, businesses need to move away from paper-based systems and turn to technology to remain competitive in the market. Finance ...
Events and Webinars

CFO of Roberson Stephens Gets Efficient Finance & Accounting Function From Scratch

David Westbrook, CFO of Robertson Stephens, shares his past experience joining the company under the sponsorship of Long Arc Capital and a brand new management ...
ArticleArtificial Intelligence

What is the future of finance and accounting?

To survive in today’s highly competitive business environment, you need to increase efficiency and agility, particularly if your business goals include driving growth, introducing new ...
Person working at desk pointing to laptop
ArticleControls, Governance, Compliance

A new revenue recognition standard for GAAP companies

All companies in the US, mostly private companies that follow the U.S. Generally Accepted Accounting Principles, or GAAP, need to start implementing the new revenue ...
Sage Intacct partner logo
ArticleNews

Consero named top partner in the Sage Intacct Accountants Program [2018]

At this year’s Sage Intacct President’s Club organized by Sage Intacct, a record number of partners achieved membership. Among several other essential credits, Consero Global ...
Whitepaper

Four Tenets of Finance as a Service (FaaS): A New Standard of Service

With the proliferation of companies selling “Finance as a Service” (FaaS) options, it may seem as if FaaS is merely a new marketing term for ...

Finance as a Service

Cutting edge technology, processes, and people in a fully-managed solution to deliver precise financial visibility and improved operational scalability, plus a lower and more predictable cost structure. 

Flex Finance

Keep your existing technology and processes. We can manage the back-office F&A function from end-to-end process, including closing the books. When you need skilled talent, we can supplement your F&A team.

Advisory Services

Expert advice and strategies to help you grow.

• CFO Advisory Services
• FP&A and Reporting
• Technical Accounting & Clean-Up

Consero FaaS: Disrupting the Outdated Traditional F&A Model

Transformation
  • Cash to GAAP conversion
  • Clean-up work
  • Interim oversight & support
  • Accounting software Implementation

Build it Yourself Solution

  • CFO / Interim CFO
  • Consultants / VARs

Consero FaaS Solution

  • CFO / Interim CFO
  • or Consero Interim CFO
  • Consero Setup/Transformation
Ongoing F&A
  • Monthly financials
  • Daily accounting support
  • Management reporting
  • Integrate add-on acquisitions

Build it Yourself Solution

  • CFO
  • Controllers & Accounting Team
  • Enterprise Accounting Applications

Consero FaaS Solution

  • CFO
  • or Consero Fractional CFO
  • Consero FaaS Enterprise F&A Software and Services

New PE Platform Investment F&A Challenges

Founder Owned Company Accounting:
  • Existing accounting done on a cash/hybrid basis
  • Run on SMB accounting software and other disparate applications
  • Inability to produce auditable financials
  • Lack of know-how to develop projections & KPIs
  • No consistency/structure to customer contracts
  • Underqualified staff
  • Non-scalable manual processes
Carve-Out Accounting:
  • Required to move off parent company accounting applications in a timely fashion
  • Have to build an entire F&A team
  • No documented operational policies and procedures
To Optimized Finance & Accounting:
  • Monthly financials available in 5-10 business days
  • Audit and diligence ready support details
  • Integrated enterprise grade accounting software
  • Budget and forecast reporting
  • Business KPIs
  • Efficient & scalable processes for rolling in add-ons