Founder Education
Why Emerging Fund Managers Are Ditching Spreadsheets in 2026
The spreadsheet era for fund management is ending. Here's why the smartest emerging GPs are moving to purpose-built platforms — and what they're gaining.
Michael Kaufman·
Serial entrepreneur
Founder of Archstone (fund management software)
Scaled FamilyTime Centers from 4 to 45+ employees
Built the web's most comprehensive venture capital knowledge base with 2,000+ VC firm profiles
About
I've been obsessed with how venture capital works since I was a teenager. Twenty years later, I built VC Beast — 1,000+ glossary terms, 150+ comparisons, 200+ interactive tools — because nobody was explaining this stuff clearly. I'm a serial founder and operator based in Los Angeles. I run FamilyTime Centers, a 45-person mental health practice, and I'm building Archstone, fund management software for emerging GPs. I don't have an MBA or a fund. I have output. Build something or shut up.
Background
20+ years experience
Expertise
Venture capital mechanicsFund structures & economicsLP-GP relationshipsStartup finance & valuationVC deal terms & negotiationFund formation & complianceEmerging manager strategySaaS metrics & benchmarkingCapital allocationPortfolio construction
Stories by Michael213
VC Profiles
General Catalyst and First Round Capital: How Two Firms Are Building Tomorrow's VC Pipeline
General Catalyst's Venture Fellows and First Round's Angel Track take radically different approaches to training the next generation of venture investors. Both are working.
Michael Kaufman·
VC Profiles
Index Ventures and Village Global: The Rise of Network-First Deal Sourcing
Index Ventures and Village Global have built scout models that put network effects at the center of venture investing. How distributed intelligence is replacing traditional VC sourcing.
Michael Kaufman·
VC Profiles
a16z vs. Accel: Inside the Silicon Valley Scout Arms Race
Andreessen Horowitz and Accel have built two of the most aggressive scout networks in venture capital. Here's how they compare — and what it means for founders.
Michael Kaufman·
Fund Strategy
Bessemer's Fellowship and the Rise of Institutional Scout Alternatives
Not every firm runs a traditional scout program. Bessemer Venture Partners and others are pioneering fellowship and talent-pipeline models that achieve similar results through different means.
Michael Kaufman·
VC Profiles
How Lightspeed and Atomico Are Using Scout Programs to Reshape VC Diversity
Two firms, two continents, one thesis: the next generation of great investors doesn't look like the last one. Inside the diversity-first scout models at Lightspeed and Atomico.
Michael Kaufman·
Fundraising
Airbnb's Pitch Deck: The Original 2009 Deck That Raised $600K (PDF + Analysis)
Slide-by-slide breakdown of the 10-slide pitch deck Airbnb used to raise $600K from Sequoia Capital in 2009. What worked, what wouldn't fly today, and what every founder can steal.
Michael Kaufman·
Fundraising
How to Find Investors for Free: No-Cost Ways to Connect With VCs and Angels
You can find investors for free with nine methods: the VC Beast firm directory, warm intros from portfolio founders, AngelList, the Crunchbase free tier, LinkedIn, X, demo days, startup events and cold email. None requires paying for an investor database.
Michael Kaufman·
Founder Education
How to Value a Startup: 5 Methods Investors Actually Use
Startup valuation is more art than science — especially pre-revenue. Here are the 5 methods real investors use to put a number on your company, and when each one works.
Michael Kaufman·
Fund Strategy
Sequoia Capital: Portfolio, Strategy, and What Makes Them the Best VC Firm
Inside Sequoia Capital: from Don Valentine's founding in 1972 to their $85B evergreen fund structure. Portfolio, partners, strategy, and how to get funded.
Michael Kaufman·
Founder Education
Advantages and Disadvantages of an IPO: The Honest Guide for Founders
IPOs unlock liquidity, public capital, and credibility — but they also mean quarterly earnings pressure, loss of privacy, and $5-15M in costs. Here's the honest breakdown, plus when an IPO actually makes sense.
Michael Kaufman·
Fund Strategy
Private Equity Software: Best Tools for PE Firms in 2025
The complete PE software stack — from CRM and deal flow to portfolio monitoring, fund administration, and LP reporting. Pricing, best-fit guidance, and how to build your tech stack on a budget.
Michael Kaufman·
Fund Strategy
Best Portfolio Management Books for Investors in 2025
12 portfolio management books organized by level — from beginner classics like A Random Walk Down Wall Street to VC-specific picks like The Power Law. Honest reviews, key takeaways, and who should read each one.
Michael Kaufman·
Fund Strategy
Private Equity Fund Administration: How It Works and Top Providers
PE fund administration covers NAV calculations, waterfall distributions, K-1 prep, and regulatory filings. Here's what PE fund admins do, how they differ from VC fund admin, and the top providers to consider.
Michael Kaufman·
Fund Strategy
Modern Portfolio Theory for Venture Capital: Does MPT Apply to VC?
Harry Markowitz's Modern Portfolio Theory revolutionized public markets. But VC returns follow power laws, not normal distributions. Here's where MPT works in venture — and where it completely breaks down.
Michael Kaufman·
Founder Education
IPO Readiness Assessment: A Checklist for Startups Preparing to Go Public
Going public takes 18-24 months of preparation. Here's the complete IPO readiness checklist: financial, governance, legal, and operational requirements, plus a step-by-step process flow chart from S-1 filing to first trade.
Michael Kaufman·
Founder Education
Share Dilution Explained: Formula, Examples, and How to Protect Your Equity
The dilution formula every founder needs to know, three worked examples from simple to multi-round, how option pools really work, and practical strategies to protect your ownership stake.
Michael Kaufman·
Fund Strategy
Affinity CRM for VCs: Pricing, Features, and How It Compares
Affinity is the CRM most institutional VCs use, and it does not publish prices: plans start around $1,500 to $1,800 a user a year and Enterprise runs $3,000+. 4Degrees, its closest competitor, starts around $1,200 a user a year, roughly half of Affinity Professional, with faster onboarding and a simpler interface.
Michael Kaufman·
Fund Strategy
How to Become a Venture Capitalist With No Money or Experience
You can't just "become" a VC. But there are 5 real paths in — from scout programs to micro-funds. Here's what actually works and what's a waste of time.
Michael Kaufman·
Fundraising
NVCA Model Legal Documents: Every Form a Startup Founder Needs
The NVCA publishes free legal templates that can save you $10-30K in lawyer fees. Here's every document explained in plain English, plus what to watch for.
Michael Kaufman·