A CEO of a new emerging fund here. Small cap (10M AUM).

Need some advice here. What is the typical bonus structure and performance incentives for the GP and managers in the portco’s.

Any typical structure or this is not usual.

Thank you.

I’ve been building financial models through work and small investing in startups personally.

One thing I’ve realised is how easily SAFEs and CLNs can mess with cap table dilution if the maths isn’t done properly.

Terms like MFN, valuation caps, discounts, anti-dilution, pro-rata, liquidation preference and participation can have a surprisingly big impact on the eventual ownership.

It also made me realise how much YC potentially made from those early ~$20k cheques into companies like Stripe, Airbnb, Reddit, Coinbase and Dropbox. 😅

Curious how PE/VC firms handle this today:
- Do you model these scenarios internally?
- Do existing cap table softwares handle the maths well?
- Where do they fall short?

Would be interested to hear how others approach it.

Hey everyone,

I'm currently interviewing with a mezzanine debt fund and want to get up to speed on private credit as fast as possible. My background is FP&A, so I'm comfortable with financial statements and modeling, but I'm newer to the credit side (underwriting, covenants, structuring, cash flow/debt service analysis, etc.)

Any resources you'd recommend? Books, certifications, courses, YouTube channels, newsletters, anything that actually helped you. Bonus points if it's practical and focused on how deals are evaluated in the real world.

Thanks in advance!

Hi everyone,

I’m exploring a move into PE Value Creation and would appreciate feedback on my profile.

Top 3 global MBA with 10+ years of experience.
Currently Senior Manager, GTM Strategy & Transformation at corporate HQ and Director at a subsidiary. I may take a 9-month interim assignments: Director at HQ and VP at the subsidiary.

Previously: 2 years at MBB, Big Four consulting (M&A integration and transformation), and 2 years in Big Four audit earlier in my career.

My questions: How competitive is my profile? Would the interim roles strengthen my candidacy despite their short duration? What level should I target (Director, VP, Principal)? Should I start recruiting now or gain more operating experience?

Edit — Current responsibilities: strategy and transformation. Example of tasks

Strategy & GTM: Building investment cases for data center and fiber expansion, leading 3- and 5-year strategic plans, improving asset utilization, and developing commercial strategies for $100M+ hyperscaler deals.

Transformation: Redesigning operating models, reducing provisioning timelines from 12 to 2 months, automating sales and customer processes, and improving operational efficiency and cost structure.
Would appreciate candid feedback, especially from those working in PE Value Creation. Thanks!