Just started working at a new private equity fund. We don't have a lot of the back end figured out (e.g. HR, investor relations, deal management), although we do have capital and a strong senior. I've worked in PE before, but usually we had assistants or a finance / Ops / compliance team handle a lot the backend functions, especially with respect to deal management.
Does anyone here have any experience with a new fund, and what software / services could be particularly effective at saving time (because most the grunt work is going to be going through me).
I was thinking things like Justworks and Slack would be helpful, and we already have CapIQ. Has anyone used any other software / services, and if so, what was your experience?
I'm in the same boat. I started a couple of months ago and have basically been building a process around this stuff.
Some suggestions on the administrative stuff: -Concur or expensify for expense reports -Gusto for payroll -Slack is good but make sure you use the secure version
Deal management: -I just purchased DealCloud which is awesome. It's like salesforce but its only for PE. You can track LPs, deal pipeline, contacts, and it has a great interface. -Some colleagues I have use Zoho which is think is a cheaper option but they said good things -Have also heard good things about Navatar
Other stuff: -Axial/DealNexus (not sure if you are involved in sourcing, but these are mostly deal flow oriented although Axial does trip planning--very helpful for events or road shows) -Sharepoint or Drop box or somewhere you can store your shared files (teasers, NDAs, CIMs, etc.).
Here's an article with other suggestions: http://www.axial.net/forum/4-software-tools-all-deal-professionals-shou…
Interested in hearing what other people say... I like to work smarter, not harder.
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