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SOSV is a multi-stage venture capital firm that invests through their global accelerator programs with a focus on hardware/connected devices, life sciences, cross-border internet and food innovation. The firm provides support to talented entrepreneurs with more than just capital, but an unparalleled network of engineers, designers, scientists and accountants to foster growth. In 2014, the firm began fund raising for SOSV III, with the goal of expanding the firm’s client base to include outside capital for the first time. As interest with institutional investors began to develop, the firm soon realized that their operational makeup – particularly in LP reporting – was going to have to improve dramatically. Like many GPs, SOSV used a combination of MS Excel along with a small business accounting package to handle private equity fund accounting and reporting. As SOSV continued to grow, they found their use of spreadsheets wasn’t able to keep up.
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