The Exchanges

Q That's incredible. So, so your database is really, what is it like a rich list of like wealthy LPs that are writing angel checks or LP checks?

A No, it's actually different than that. It's like big state pension funds, foundations, endowments, banks, broker dealers. There's a whole ecosystem of investors that will invest in professional money managers. In your world, you can think kind of venture capital. It can be growth equity, private equity, but they're calling on Harvard and Yale and the state of California and those pension funds because they have a ton of money they need to invest in funds just like that. And so our data set is about 4500 different accounts. And about 13,000 contacts. And we have a ton of more data as well, focused on serving one avatar, which is somebody who gets up every morning and has to raise money for their venture fund or private equity fund.

AI assessment note: “No, it's actually different than that. It's like big state pension funds, foundations, endowments”

Q So let me understand, what is the business model here? Is it a marketplace and you take kind of what you raise or is there a software SaaS sale here, traditional?

A So it's actually, it's, it's really counterintuitive, but you'll, you'll get it instantly. So we founded our firm in 2006 investment firms hire us to be their outsource sales and marketing team, which means we raise capital for their investment strategies. So we've raised over forty billion since that time. And in order, in order to do that, we built a database using Salesforce.com of investors all across the country, primarily the U S a little bit in Canada. We made the decision in 2018 to create a business around that and sell access to our data to our industry colleagues. And it's the only content and database that is built by fundraisers for fundraisers. And we now have over 400 investment firms and growing using our data to set up meetings to raise money.

AI assessment note: “sell access to our data to our industry colleagues”