Scaling Base10 to $1.2B AUM with Consero

Base10 Partners, the first Black-led venture capital firm to surpass $1 billion in assets under management, needed a scalable finance and accounting solution to keep pace with its rapid growth. With multiple funds, over 30 active LLPs and LLCs, and an expanding team spread across jurisdictions, Director of Finance, Operations and Tax Jarred Morales-Mckinzie found himself stretched thin managing every back-office function — from compliance to payroll to HR.

Base10 partnered with Consero to implement Finance as a Service (FaaS), gaining access to an integrated accounting platform and an experienced finance and accounting team. The result: a streamlined back office that runs almost on autopilot, freeing Morales-Mckinzie to focus on strategic support for Base10’s general partners.

“Without Consero’s help, I’d have been dead in the trenches a long time ago. FaaS from Consero saves me countless hours of time that I can devote to strategic support of our general partners to help close deals.” — Jarred Morales-Mckinzie, Director of Finance, Operations and Tax, Base10 Partners

Company Profile

• Industry: Venture Capital / Investment Management
• Consero Solution: Finance as a Service (FaaS)
• Company Size: $1.2 billion Assets Under Management (AUM)

Partnership Highlights

• Operational Scalability: Automated payroll, compliance, and tax management across 30+ active LLPs and LLCs.
• Rapid Response Times: Achieved a consistent 12-hour turnaround for critical financial queries, essential for fast-paced deal-making.
• HR Foundation: Developed and implemented the firm’s first formal expense and leave policies to support a growing, multi-jurisdictional team.
• Risk Mitigation: Maintained seamless payroll and compliance during volatile market events, including the Silicon Valley Bank collapse.

The Consero Solution: FaaS in Action

Consero provides Base10 with a comprehensive, outsourced finance function built for investment management firms. The engagement includes:

• Integrated Accounting Platform: Consero’s proprietary SIMPL® platform gives Base10 a single point of access for cloud accounting, invoicing, vendor billing, expense approvals, payments, and financial reporting — all with role-based, self-service tools for managers and executives.
• Experienced Finance and Accounting Team: Rather than building a full in-house accounting department, Base10 leverages Consero’s team as a trusted advisor, handling day-to-day accounting while also providing strategic counsel.
• Compliance and Payroll Management: FaaS ensures Base10 stays compliant with local laws, regulations, and taxes across all entities.
• HR Support: Consero helped Base10 develop formal expense and leave policies as the firm scaled and hired across different jurisdictions.
• Scalable Infrastructure: As Base10 evolved from a two-fund firm to managing multiple funds including an Africa-focused fintech fund, Consero adapted its solutions to match the firm’s growing complexity.
• Network and Industry Insight: During the Silicon Valley Bank crisis, Morales-Mckinzie was able to tap into Consero’s broader network of asset management clients for real-time intelligence on how other firms were responding.

“I can sleep well at night knowing that everything is almost on autopilot, and I don’t have to worry about making payroll or new employees being onboarded correctly.” — Jarred Morales-Mckinzie, Director of Finance, Operations and Tax, Base10 Partners

Ready to Streamline Your Back Office?

Managing a high-growth firm shouldn’t mean sacrificing your sleep or your strategic focus to handle the back office. If your current financial processes feel like they’re stuck in the past, it’s time to build a scalable foundation that evolves with you.

Base10’s experience shows what’s possible when a growing investment firm partners with the right FaaS provider — less time in the trenches, more time driving strategic value.

Whether you’re managing multiple funds, navigating complex compliance requirements, or simply looking to free up your finance team for higher-impact work, Consero can help.