Highlights

• Monetization RFC shipped: new pricing models proposed
• Diversifying SPV admin partners
• Member count has stabilized

Lowlights

• We did not publish any deals

RFC: Monetization Strategy

I published the RFC which received many insightful comments from our community. We are iterating on different pricing models. I’m validating feasabilty and structure with counsel. The two lead contenders are:

1. Subscription
   • $100/month for all deals at 0% carry
   • Free members get access to deals at 20% carry
2. Management fee
   • 2% management fee paid at close

I’m aiming to have a model ready to install by next week. We will likely evolve whichever model we implement. But either model is a good starting point.

Diversifying SPV admin providers

I am in productive conversations with two more SPV admins. Both are competitive on admin fees which will lead to lower expense ratios for future deals. I want us to have at least 3 admin partners with feature parity for our core deal workflows. We are tracking to achieve this in the next 30 days. Launching and closing deals on with each new admin will be major milestones. Achieving these milestones will prove our platform independence

Deals

• My focus on the Monetization RFC led consumed focus to the point where we did not publish any deals this week. I’m finding that I can work on the syndicate or in the syndicate but not both (or at least not very well and not for very long). I’ll begin staffing contract deal analysts once we have clarity on monetization. 2 contract deal analysts should solve for this constraint
• North Star Metric: Live Deals Published

Membership (email list subscribers)

Our member count has stabilized. I removed the new subscribers and unsubscribed columns. Getting accurate data from our current email system is proving increasingly cumbersome. I’ll look into migrating to a new provider and creating an automated dashboard for our Open Startup hub