📶 Confluence.VC Wisdom #23

How to distribute public shares to LPs, tax / accounting firms for startups, and outsourced IT solutions

July 10, 2022 • Estimated Reading Time: 3 minutes

👋 What's up, everybody?

Welcome to the 23rd issue of Confluence.VC Wisdom — a paid email delivered every other week highlighting some of the most helpful conversations from our private Slack group. I've been out of the country and looking at less deals, but I'll start adding more of those once I'm back on a normal schedule.

Let's get right into it.

⚡️ Top threads

1. How to distribute public shares to LPs

Hi y'all! Does anyone know how to get public shares distributed to LPs? We have a portco that went public and is doing well, but our broker will only allow us to sell the shares and distribute cash, not distribute the shares themselves. Any other brokerage companies I could reach out to, or is there a completely different process for something like this? I'm new to public companies so any insights would be great!

- Casey Williams

  • Halle Kaplan-Allen: try btig

  • Omar Sebai: We had the bank handling the IPO transfer pro-rated shares to each LP directly. That way after the lock-up period they chose whether to sell or hold

2. Tax / accounting firms for startups

Anyone have tax/accounting firms that are reasonable for startups? Looking for an intro ASAP.

- Connor Frazier

3. Outsourced IT solutions firms

Does anyone have recommendations for outsourced IT solution firms? We need a group that has experience implementing solutions that conform with requirements with regulated funds. Any suggestions would be great appreciates!

- Wes Goldstein

  • Clay Norris: We've listed a few in here. Interested to hear if anybody else has other recs

  • David Teten: One of our Venture Partners runs https://pestack.com/, which provides consulting on vendor selection. I’m also informally advising https://lionpointgroup.com/, a leading consultancy specializing in implementing tech solutions for alternative investments funds. Please advise if you’d like an intro to either. email [email protected]

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Thanks so much for reading, and special thanks to those that provided the Q&A this week!

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