The Hanover Manifesto

Your venture fund is stuck in the stone age.

Your financial data is trapped in Quickbooks, Excel, PDFs, emails from portfolio companies, dreaded docsends… Or a stale, decade old system owned by your “Legacy Fund Admin”.

But you pay your Legacy Fund Admin 6-figures with the primary “value” of:

“Well, they didn’t screw up my accounting too badly.”

That’s crazy.

And it’s not the Legacy Fund Admin’s fault. They do what they do best… not screwing up your accounting.

But who cares anyway?

Well in 1980, only 50 venture funds existed. Today, it’s 40,000. Or 800x harder to win LPs and deals.

Everyone is fighting for an edge. Hedge funds used to trade with pen and paper. Now, they plant servers next to the stock exchange to execute trades milliseconds faster.

But venture capital still uses pen and paper… data siloed across 7 systems that don’t speak the same language. Portfolio company updates jammed in google drives. Wrestling financial data from your Legacy Fund Admin intoOverpriced SaaS tools.

This is why we built Hanover.

We do the unsexy, full-service fund administration… We built our own general ledger. We built our own document extraction engine. We built real-time reporting. We built inter-entity bill pay. We integrated capital calls, distributions, and LP communication all in one place.

But you don’t care about better accounting.

You care about unlocking these insights:

  • - Pro rata rights across portfolio companies?
  • - Top decile portfolio companies by revenue growth?
  • - IRR for portfolio companies we exercise full pro rata?
  • - Impact on IRR from recycling vs. returning this $25M exit?
  • - Pro forma ownership for a $5M follow-on at $50M, $75M, $100M post money valuation?

The math is simple.

If you have $1B AUM and you can earn a 1% edge, would you take it?

That’s $10 million.

But most importantly, can you trust us with Legacy Fund Admin execution?

Yes. We assembled an all-star accounting team.

We have $1 billion in assets under administration.

We passed SOC1 and SOC2 audits in record time.

And here’s my promise:

I won’t rest until icky “fund admin” becomes an advantage for you and your LPs.