• Venture Capital Fund Sourcing
    • The NVNG team is responsible for generating deal flow. Our strategy is dependent upon the team’s ability to maintain and form new relationships with premier venture capital firms. The strategically focused and engaged investor base will be used to differentiate NVNG Fund I, LP from other investors vying for the same access. Highlighting this investor group and the NVNG +Venture Platform will draw venture capital funds into the NVNG universe. It is NVNG’s belief that Fund I investors will strategically engage with the underlying portfolio companies to serve as customers, supply expertise, and provide market intelligence.
    • Our team has extensive experience and backgrounds in the sourcing of, establishing strategic relationships with, and investing in venture capital funds. The NVNG team proactively follows select venture capital firms, to remain current on their fundraising timelines, and to determine when and if a fund will be added into NVNG’s diligence process for future investment consideration. The NVNG team members also speak regularly with their networks of institutional investors, corporations, and accelerator programs to follow industry trends and investment activity. As a result of years spent in Wisconsin and within this industry, the NVNG team has established lasting relationships with top-tier venture capital firms and remain close with those based in the state of Wisconsin.
    • The NVNG team also possesses established networks to source new relationships in addition to our proactive outreach and sourcing of these new relationships. We have spent decades growing these personal and professional networks of relationships within the venture capital universe, positioning us well to source top-tier venture capital funds in and outside the state of Wisconsin. As a result, we possess long-standing relationships with entrepreneurs, management teams, attorneys, academics, seed-stage and angel investors, and other venture capital firms and institutional investors.
    • We intend to aggressively continue building these networks by being active with local and national venture groups as well as industry-specific events. Our team frequently serves on conference panels, speak at entrepreneurial events, advise startup companies, and stay involved in the Wisconsin and broader Midwest region startup communities.
  • Due Diligence Process
    • Introduction and initial analysis
      • We are constantly receiving and reviewing venture capital firms and their open investment opportunities. Potential investment opportunities are first logged into NVNG’s pipeline database. Opportunities that pass the first screen of NVNG’s investment criteria are then reviewed by the Managing Directors at their weekly meetings, or on a more frequent basis as needed. We’d like to quickly determine if there is a fit within our investment strategy and investment criteria to determine if we should pursue further diligence. This typically involves follow-up meetings with the venture capital firm’s management team and investment professionals as well as initial assessments on the founding management team, fund thesis, stage of investment, and geography covered. We then decide whether or not move forward and commit additional resources to move the potential investment further through the diligence funnel.
    • Intensive Diligence
      • An investment opportunity passing the initial analysis warrants a more thorough vetting and begins the more intensive diligence process. In this phase, NVNG’s Managing Directors will have multiple meetings with the firm’s entire team. Our Managing Directors will work alongside and independent of the venture capital firm to perform a thorough analysis including (but not limited to) the following:
        • Management team dynamics
        • Investment track record
        • Short and long-term firm focus
        • Sourcing of portfolio companies and deal flow
        • Investor networks and co-investment partners
        • Deal structure characteristics
        • Geographies covered
        • Stage of investment – average check ranges
        • Industry verticals targeted
        • References from current limited partners and investor base
        • Competition and differentiation
        • Balanced, strategic fit within Fund I
      • Extensive referencing will be conducted on venture capital firm to understand key strengths and weaknesses, both quantitatively and qualitatively. Additionally, we also require an extensive diligence questionnaire be filled out in its entirety. Alongside NVNG’s completed diligence, our Managing Directors are required to prepare summaries and investment recommendations for venture capital funds making it to this part of the process.
      • We also utilize an Operational Diligence questionnaire which outlines the back office, accounting, and legal processes for the venture capital firm.
    • Approval
      • The final step in the investment process is for our Managing Directors to conduct their final review of all diligence materials, reference checks, and present the recommendation to NVNG’s Advisory Committee (comprised of current NVNG Fund I, LP investors).
      • NVNG Fund I, LP’s Advisory Committee sees all investment recommendations before an investment is made (inclusive of all direct investments as well).