Inovia has used the Vessel platform to build the digital infrastructure required to address the bespoke needs of the private wealth market and distribute its products to hundreds of High-Net-Worth Individuals.
Products used
Branded dataroom
Unified LP portal
Vessel Private Wealth Solutions
“My team was wary about using new tools, as most are built by industry outsiders, taking significant time and effort to implement. Vessel is the first solution that is built with domain expertise, a deep understanding of our pain points and what the LP experience should look like. It was easy to implement and enabled it us to differentiate ourselves from other firms.”
— Chris Arsenault, Founder and Partner
500+
views
300+
HNWIs LPs
50%+
time saved reviewing subscription documents and overseeing investor onboarding, KYC/KYB and AML
Inovia Growth Fund III
Challenges
Traditional tools are clunky: Traditional tools provided a poor user experience, particularly for high net worth individuals and family offices. They’re unintuitive, hard to use and can make the investment process feel intimidating.
Onboarding of HNW LPs was not scalable: Onboarding for high net worth individuals is more high-touch and effort-intensive than for institutions that are used to investment in private markets. It was a challenge to continuing to grow this channel and manage it effectively with finite resources and without growing the team.
Branding: Current tools do not allow for an integrated brand experience for HNWIs as there is always a different tool for a different part of the process.
Context
Building out a non-institutional channel is not straightforward, and venture capital and private equity firms cannot simply tap into the wealth channel with existing institutional fundraising strategies. Inovia’s biggest challenge was accommodating private wealth investors with fundraising tools that weren’t adapted to this audience. This is at a time when investments in private markets by HNWIs are expected to grow by $8 trillion to $12 trillion in the next 10 years, Inovia recognized the importance of this channel and decided to invest the time and resources to build the foundations now for what will become an important driver of growth for the firm.
“We had experience raising capital from a small number of HNWIs but were looking for solutions to do this at scale without growing our team.”
— Patrick Ghoche, CFO at Inovia Capital
Outcome
For its push to grow its non-institutional capital base, Inovia needed a robust digital platform that could efficiently support individual investors at scale. The firm chose Vessel for end-to-end management of its high net worth individuals (HNWIs) and family offices. Inovia wanted to maintain its brand image while tailoring communications to this wider audience. The Vessel platform allowed their Investor Relations team to present the firm’s story and manage the entire fundraising process on a single platform, significantly reducing the administrative burden and enabling a more efficient onboarding process. This improvement made it easier to manage HNWI and handle smaller investment tickets effectively.
The fundraising process using Vessel enabled Inovia to have a consistent branded LP experience across all touch points, and leverage the platform’s sharing features allowing advisors and HNWIs to securely share the content with their network.
Inovia experienced a significant improvement in managing investor relationships, expanding their investor base, and closing more subscriptions in less time. The solution offered a seamless experience for HNWIs while retaining the ability to control and track investor activity.
We interviewed Chris Arsenault (right), Founder and Partner at Inovia Capital. He shared how Vessel enabled Inovia to leverage its network of HNWIs to reach hundreds of new investors and how Vessel helped Inovia eliminate friction from its onboarding and subscription process.
What Inovia HNWIs and family offices are saying about the Vessel experience
What’s next
Investment in brand recognition and marketing is expected to become increasingly important as individual investors increase allocations and seek out familiar names in the market. As the industry moves towards centralization and standardization to manage growing demand, Inovia will deepen its partnership with Vessel. This collaboration will leverage Vessel’s engaging reporting, capital call management, and white-label platform to educate HNWIs and their advisors about the firm’s strategies. Inovia will also launch its private wealth co-investment offering enabling its private wealth LPs to access co-investment opportunities through the platform. These steps will reinforce the firm’s commitment to leveraging technology to enhance investor relations and grow its wealth channel.
“Non-institutional investors will want to work with firms that they know and trust. The time is now to prepare for the wave of private wealth capital flowing to private markets.”
— Claire Glossop Irani, Head of Investor Relations
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Vessel is built by GPs for GPs. With its user-friendly interface there is no learning curve or training required, it takes less than a day to set you up and start communicating with LPs.