I coded a SaaS Tool for Researching PE Funds... is this useful?

I built a SaaS tool that allows to diligence PE funds by analysing their LinkedIn data in an org chart. I find it super useful for understanding the calibre of the deal team profiles. E.g., if you are looking to switch to KKR or BX, you can actually see all of the Associates in that fund and look into what jobs / universities they came from previously.

The inspiration for this came from my frustration with LinkedIn's user interface (and severe corona-induced boredom). Would love to get feedback from other PE investors, who might have similar research needs. The product is completely free - here is the link to the dev server: https://listalpha-dev.herokuapp.com/test/dev-test…

Some screenshots for Warburg Pincus below:
flowwarburg sampletimeline

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Comments (24)

Jul 12, 2021 - 2:05pm

Should look into layering this with a few other sources to build a product. :)

  • 1
Jul 12, 2021 - 2:13pm

That's exactly what I am thinking currently. I am just surprised that there are no tools out there to accurately profile funds in a consistent manner. I.e., how many associates are there at EQT in NY vs. Advent vs. KKR, etc.

Jul 12, 2021 - 2:19pm

There are a few general tools floating around that allow you to do this btw. 

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  • Associate 3 in PE - LBOs
Jul 12, 2021 - 10:49pm

It's interesting - what's the source data? Is this a LinkedIn API? Or are you pulling keywords from the website or something?
 

I'm not sure it's worth more than passing fancy to me as someone at a fund, but I could see it being pretty interesting to LPs, maybe vendors - esp. if you expand the capabilities as mentioned above

  • Investment Analyst in PE - Growth
Jul 13, 2021 - 8:55am

Previously worked on the LP side briefly and would disagree and say it wouldn't really be helpful in that sense. In every deck from a GP, you'd see a broken out org chart, that already looks exactly like that and also includes each persons background info. I can see it being useful for someone trying to recruit at a specific firm in the LMM. With mega funds, it may not be as useful since the org chart would be massive and teams there can be very silo'd based on industry.

Jul 13, 2021 - 10:18am

When you were in that role, did you care much about the recent leavers from the fund? E.g., if the place lost 4-5 partners they would obviously not advertise that in the glossy book, however would be very helpful for an LP to know in the context of team continuity, etc.

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  • Investment Analyst in PE - Growth
Jul 13, 2021 - 10:29am

That is something that's very important when evaluating a fund that we always looked for. Some managers are willing to be upfront about it and address the turnover, but I have seen it be something that wasn't discovered until later in diligence. So, possibly an interesting use case for doing diligence on LMM and MM funds, but I also can't imagine paying for something like this. If we want to know of any significant turnover, we'll ask them. And if they lie and say none, it'll still come up in reference calls and a simple filter on LinkedIn to see people previously at the firm does the job.

Jul 13, 2021 - 10:27am

What are your thoughts on pricing? high level ranges would be useful...

In terms of API volumes - there are some limitations, but all can be solved with logic and management of API keys. Effectively, you can pull anything you want from there in thousands...

Jul 13, 2021 - 2:39pm

Pricing for fund products is generally done based off of AUM and number of users. Some people charge per data pull, but I wouldn't do that here. Just do some market research of ballpark prices for things like Addepar or other finance focused platforms, maybe even mystery shopping. But I feel like you're better off bespoke here since willingness to pay is much higher for a 10bn FoF than a MFO with low AUM.

Jul 15, 2021 - 12:31am

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