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·
Founder & Editor-in-Chief
Michael KaufmanSerial 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.
20+ years experience
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.
Areas of Expertise
Venture capital mechanicsFund structures & economicsLP-GP relationshipsStartup finance & valuationVC deal terms & negotiationFund formation & complianceEmerging manager strategySaaS metrics & benchmarkingCapital allocationPortfolio construction
183 articles published
Stories by Michael183
Founder Education
How to Hire Your First 10 Employees Without an HR Team
You're the CEO, the recruiter, and the hiring manager. Here's the playbook for building your founding team fast — without a dedicated HR function.
Michael Kaufman·
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·
Founder Education
The Screening Call Is Dead: How Async Video Interviews Are Replacing the Most Wasteful Step in Hiring
67% of recruiters spend 30 minutes to 2 hours scheduling each screening call. Async video interviews cut that to zero — and produce better signal. Here's why the screening call is dying.
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·
Founder Education
The True Cost of Running a VC Fund in 2026
Emerging managers spend $40,000–$80,000/year on tools before they've made their first investment. Here's the full breakdown — and how to cut it by 70%.
Michael Kaufman·
Founder Education
Why Startup Hiring Is Getting Slower in 2026 (And What to Do About It)
Time to first outreach jumped 136%. Time to onboard nearly doubled. Hiring matters more than ever at startups — but the process is broken. Here's what the data says and how to fix it.
Michael Kaufman·
Founder Education
AI Agents Are Joining Your Team — But You Still Need to Hire Humans Right
52% of talent leaders plan to add AI agents to their teams this year. But the humans you hire alongside them matter more than ever.
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·
Founder Education
The True Cost of a Bad Hire at a Startup (And How to Avoid It)
A bad hire at a 15-person startup costs $150K–$300K when you factor in salary, equity, lost productivity, and the months to find a replacement. Here's how to avoid it.
Michael Kaufman·
Founder Education
VC-Backed Startups: Your Investors Are Watching How You Hire
Board members notice when key roles sit open for months. LPs notice when portfolio companies can't build teams. Your hiring velocity signals operational competence.
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·
Founder Education
Quarterly Report Template for Emerging VCs (Free Download)
The exact quarterly LP report format used by top-performing emerging managers. Five pages, five sections, zero fluff. Copy this template and never miss a reporting cycle again.
Michael Kaufman·
Founder Education
How to Set Up Your First Fund's Tech Stack in 2026
The definitive guide to choosing and configuring the tools you need to launch and run a venture fund — from entity formation to your first capital call.
Michael Kaufman·
Founder Education
LP Data Room Checklist: Everything Your Fund Needs (2026)
The complete checklist of every document your LP data room needs — organized by category, with notes on what institutional LPs actually review and what signals professionalism.
Michael Kaufman·
Founder Education
What LPs Actually Want From Your Quarterly Reports
Most emerging managers either over-report or under-report. Here's what institutional LPs actually read, what they skip, and the format that builds trust over time.
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·
Founder Education
Startup Compensation: How to Evaluate an Offer Beyond Salary
A startup offer is more than salary and options. Here's a framework for evaluating total compensation, valuing equity realistically, and comparing startup offers to big tech packages.
Michael Kaufman·
Analysis
Common Angel Investing Mistakes and How to Avoid Them
The most costly mistakes angel investors make — from insufficient diversification and ignoring terms to falling in love with founders and skipping reference checks. Plus how to avoid each one.
Michael Kaufman·
Analysis
Understanding Liquidation Preferences: What Employees Need to Know
Liquidation preferences determine who gets paid first when a startup exits. In some scenarios, investors take everything and employees get nothing — even in a 'successful' acquisition. Here's how it works.
Michael Kaufman·