VP of Fund Accounting

Boston, MA /
Accounting and Finance /
Alternate Locations
About Alumni Ventures

Alumni Ventures (AV) is a fast-growing, network-powered venture capital firm disrupting the VC industry. We are democratizing venture investing by allowing individuals the opportunity to invest into previously inaccessible startups. 

We believe in growing and engaging with an inclusive community of teammates, investors, and entrepreneurs to challenge the status quo and build a better future. Fueled by our mission, we are growing rapidly, with over 180 employees and 20 investing teams working from locations in Boston, Chicago, New York City, Menlo Park, Austin, and a headquarters in Manchester, NH. AV is a fast-paced work environment with a dedicated approach to growth and innovation that is centered on regular change, experimentation, learning (from both failures and successes), iteration, and continuous improvement.

AV has raised over $900MM to date from thousands of investors and is the third most active VC in the world (Pitchbook 2021) with over 900 portfolio companies. We recently won several awards, including Fast Company’s Most Innovative Companies 2022 (Financial Services) and Bezinga’s Most Innovative Personal Investment Company 2021. AV invests alongside well-known lead investors such as Sequoia, Kleiner Perkins and Bessemer. 

About this Role

As Alumni Ventures continues to grow, we are expanding our capabilities. We are hiring a  VP of Fund Accounting role to support our growing portfolio of funds and investments.  The VP will be responsible for accounting matters related to our funds which currently number over 300 with an expectation of growing close to 100 funds per year. This new position will manage a team of accountants and report to our EVP of Finance, also partnering with the other VP of Fund Accounting to continuously improve best practices for the area. In addition to supporting our growing venture funds, this individual will be in a unique position to assist in the completion of our implementation of a new accounting system and further build out AV’s processes for fund accounting. 

Our ideal candidates will have a strong background in accounting for alternative investment funds, enterprise systems implementation experience and the ability to work effectively at a fast pace. 

Responsibilities

    • Review and ensure accurate fund accounting is reflected in the system of record for all individual fund activities including recordation of investors as LLC members, investments, interest income, distributions, valuation changes, portfolio company exits, investor transfer, etc.
    • Ensure all monthly bank reconciliations are completed in a timely manner
    • Ensure execution of all investments via documentation review, coordination with portfolio company, and working with the investment team and the Office of Investments on the splits allocated from assigned Funds
    • Read primary source investment documents and work closely with investment teams to ensure correct understanding of financial impact of the material on investment valuation, and updating system of record in accordance with our Valuation Policy
    • Interact with Treasury to ensure cash flows from appropriate Fund bank accounts to funding account
    • Interface with Legal to ensure entity creation on pace with needs and established in system of record for new Fund activity
    • Review financial statements and management fee calculations for each fund
    • Create, maintain, and/or review distribution waterfalls and carried interest impact within models related to a portfolio company exit events as well as for the full Fund position
    • Work with Corporate Accounting to track and report revenue and fee drawn-downs from every fund by Fund
    • Work with outside tax partner to ensure K-1s are produced on a timely basis, ensuring accuracy of internal information
    • Assist Investor Relations with responses to any investor queries related to distributions, performance and tax topics 
    • Ensure appropriate paperwork and audit trails maintained
    • Assist in the implementation of a new accounting system 
    • Provide financial statement information for currently defined semi-annual investor reporting and communication needs
    • Be familiar with fund governing documents, offering documents, subscription documents, and investment management agreements 

Requirements

    • Bachelor’s degree in Accounting or similar field
    • 10+ years of accounting experience, with a focus on alternative investment funds 
    • CPA or CPA candidate preferred 
    • Experience with Netsuite or similar accounting system preferred 
    • Experience implementing an accounting system or other enterprise software preferred
    • Familiarity with accounting for blockchain and crypto investing a plus
    • Knowledge of partnership tax issues preferred
    • Experience as a player/coach in a similar function; hands-on management style 
    • Advanced Excel skills (advanced formulas, pivot tables, VLOOKUP)
#LI-Hybrid

Alumni Ventures is an equal opportunity employer and our team is committed to achieving and supporting a diverse workforce through fair and equitable Talent and people management practices. We consider applicants for all positions given the needs of our business and the relevant team, and the skills, experience and competencies each candidate brings. If you are excited about the work AV is doing and believe your skills, experience and competencies can create impact for our team, our Investors and our portfolio companies, we encourage you to apply.  Your candidacy will be considered based on your ability to add value, regardless of your race, color, religion, sexual orientation, gender identity, national origin, veteran or disability status.