On today’s Tank Talks we have Braughm Ricke, founder and CEO of Aduro Advisors, which is a platform that allows fund to streamline accounting and operations.
Braughm’s Background:
CEO and Founder of Aduro Advisors in Denver, CO. Former Founding CFO of True Ventures with over 20+ years of VC experience. He began his career in venture capital in 1999 and was the Controller at Sofinnova Ventures. Before working in the venture industry, he was an Accounting Analyst at Fidelity Investments. Braughm launched Aduro as a tech-enabled Fund Administrator and has grown to over 300+ Firms and over $30 Billion assets under administration and works with top tier managers like Lowercase Capital, Homebrew, and Craft Ventures.
In this episode we discuss:
01:46 The spark to leave True Ventures and start Aduro
03:14 What emerging managers ask when starting a fund
04:15 Defining fund administration
06:04 How Aduro handles the boring things while managers source deals
06:57 The opportunity for technology to disrupt the VC world
09:18 How Aduro scales with clients
11:16 LPs and how they are adapting to the surge in emerging managers
13:13 Fundraising and timing the market
15:56 Launching an institutional fund on Angellist
17:13 How new crowd equity platforms will effect emerging managers
19:16 The rise of co-investing
20:32 Emerging managers of fund of funds
21:24 Breaking up the VC oligopoly with data
23:57 How using tools like Aduro gives managers and LPs more confidence
25:15 What funds will look like moving forward
27:01 The push for data standardization across the industry
29:47 Giving LPs clarity as dilution and other factors happen
Books Braughm recommends:
The Obstacle Is the Way: The Timeless Art of Turning Trials into Triumph by Ryan Holiday
The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success by William N. Thorndike
Ready Player Two by Ernest Cline
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Braughm Ricke on The Rise of Emerging Managers & The Industry Supporting Them