Adi Filipovic

🔍 Want to land a role in private equity or create your own deal? Our playbook for executives offers a comprehensive roadmap to enter the PE field, emphasizing networking, strategic positioning, and leveraging resources effectively. Read more here: https://buff.ly/4flClVy 💼 Learn more about Blackmore Partners: https://buff.ly/42iNmB3 📅 Have questions? Schedule a meeting with our Director Chris Melton here: https://buff.ly/4cpKqHv #PrivateEquity #CareerGrowth #ExecutiveRoles #BlackmorePartners #PECareers

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Series A or B wondering when to bring in a VP of Finance or CFO? It’s a crucial decision that can shape the future of your company. At this stage, financial leadership is not just about managing numbers but also scaling processes, securing funding, and driving strategic growth. My colleague Paul breaks down key signs that it’s time to hire and indicators for choosing between VP of Finance and a CFO #FinanceLeadership #CFO #StartupGrowth #SeriesA #SeriesB #NextGenLeadership

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Join us tomorrow for a panel discussion on the complex relationship many FirstGens have to money and how that affects founders, investors, operators and others. See you tomorrow! https://lu.ma/9rixyzgs

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PE Portfolio Companies - Cost of Revenue is Up (& Driving Profitable Growth in 2025) During the PE Conference in New York, a lot of my peers in PE confirmed a common trend: - Rising costs and market challenges require PE portfolio companies to focus on GTM/commercial efficiency - Many companies are experiencing declining returns on GTM investments, with growth yield per dollar spent on sales and marketing is dropping nearly 50%+ in the past 5 years - Cost of Revenue has risen by nearly 70% in the past 5 years thus significantly impacting commercial efficiency (I noticed a few metrics related to this during one of the GTM/Growth panels in a research study provided by SBI, The Growth Advisory) - For PE firms to have successful exits, generate high ROI, and to get DPI for LPs, it is key to drive profitable growth effectively while reducing cost of revenue (i.e. efficiency + effectiveness are key) --------- With 2025 around the corner, what key value maximization strategies in PE will set the stage for profitable growth? Here are 8 takeaways - key PE value maximization strategies to consider for improving Revenue Growth profitably include: - Pipeline Creation: build a Lead Generation Machine that fuels the sales pipeline - More effective ICP targeting - Process engineering and optimization - Focus on existing customers with more effective expansion sales and retention - Effective team onboarding and development - RevOps - using GTM analytics for early detection of leading indicators to be able to see around corners - Effective GTM Enablement - Help the team focus on "Revenue Generating Priorities" (RGPs) - the simplest path to enable this is with GTM automation of perfunctory tasks (i.e. a solid and modern GTM tech stack) including GTM focused AI #pe #privateequity

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I’m thrilled to be on a panel at the upcoming Nashville Healthcare Sessions conference! I’ll be joining industry leaders Adam Boehler from Rubicon Founders and Anna Haghgooie from Valtruis. Together, we’ll explore the evolution of healthcare investing and the current landscape after a tumultuous five years. What can you expect? 🤔 🔍 Insights into market maturation and what we’re observing in today’s investment strategies. 💡 Discussion on how these dynamics are influencing capital strategies for companies moving forward. 📈 An overview of the changes operators are making to secure the best deals. 🔮 A look at investor trends for the remainder of the year and what’s on the horizon for 2025. This is a fantastic opportunity to gain valuable insights and network with fellow healthcare enthusiasts and professionals. Don’t miss out on what promises to be a thought-provoking and informative session! #NashvilleHealthcareSessions #HealthcareInvestment #PanelDiscussion #Networking #HealthcareInnovation #InvestSmart #2025Trends

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We're absolutely thrilled to announce a monumental milestone for Flo Health Inc.! After years of dedication to women's health, Flo, a long-standing member of the Target Global family, has secured over $200 million in Series C funding led by General Atlantic.This incredible investment propels Flo's valuation beyond $1 billion, officially making it a unicorn – a rare and remarkable feat in the femtech space. This accomplishment isn't just about numbers. It's a testament to the power of prioritizing women's health. Flo has seen phenomenal growth over eight years, becoming the #1 downloaded app in the Health & Fitness category. Today, Flo empowers nearly 70 million monthly active users (MAUs) and boasts close to 5 million paid subscribers. Notably, 1 in 4 US women trust Flo, solidifying its position as a leader in the global movement for women's health. But this is just the beginning! This investment fuels Flo's mission to revolutionize female healthcare experiences worldwide. By directing resources towards areas of critical yet unmet needs (which, let's be honest, encompasses a vast majority of women's health!), Flo will continue to be a driving force for positive change. Congratulations Dmitry Gurski,Yuri Gurski, and the entire Flo Health Inc. team! More in the Financial Times here ---->https://lnkd.in/dJZdajM4

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As I said right at the start of this week's The Heart of Healthcare Podcast, Shivdev Rao is one of the most exceptional founders I have ever worked with. He is also a great human being. In this week's episode he shares what is it like leading the 🚀 that is Abridge and some awesome life lessons. IMHO this is a great listen for founders building in both the AI and healthcare fields!

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This article is an impressive journalistic achievement, with interviews with several key executives and a sophisticated understanding of Amazon’s internal dynamics. I think that Amazon has the opportunity to do amazing work in the healthcare sector, but only if they expand their vision to include fostering healthier habits using all of the tools at their disposal, including their e-commerce recommendation engine. Amazon could help educate its consumers about how to lead healthier, more mindful, more connected lives. They could recommend healthier food and customize food recommendations for people with particular health needs, and they could support healthier habits and relationships through their media businesses. And Amazon would also benefit from thinking more about how people are connected to each other. With the exception of Twitch and wish lists and family sharing for media, Amazon’s businesses largely approach the consumer as an individual purchaser rather than as part of a connected community. What could Amazon do to forge better connections between people? Could Amazon foster empathy and tolerance?

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I'm excited to be on the steering committee for the upcoming ISF Deal Series taking place in Nashville on May 14th. The Independent Sponsor Forum (ISF) is the first and only community developed by, and for, independent sponsors designed to drive: 1.) Relationship-building and deal-sharing with pre-vetted capital providers. 2.) Solutions and best practices with peers in a candid, confidential environment. 3.) Insights into the latest industry trends & terms, proposed legislation, regulatory, and policy changes, etc. that could materially impact our work. The ISF Deal Series is open by invitation only to eligible capital providers and independent sponsors. You can learn more about the ISF - and request an invitation - here: https://lnkd.in/e97wWb_s I look forward to seeing you in Nashville! #independentsponsors #2024ISFDealSeries #independentsponsorforum #dealsourcing #privateequity #lowermiddlemarket #investing #investmentopportunities #smallbusinessfunding #buildingsmallbusinesses

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In episode 4, Bill Clendenen and Michael Burcham talk strategy and the right (and wrong) ways to think about and deploy it. #microcaps #privateequity #strategy #strategicplanning

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⛳ Emerging fund managers pulse check. PitchBook tracks over 10,000 funds that are raising money, with 45% being emerging fund managers (defined as firms with less than 3 funds). Despite a dip in available capital—down to 16% from the pre-pandemic 23%—these managers are finding creative ways to stay competitive, like partnering with larger firms. 💼 Joanna Drake (founder turned investor) shared how "wildly different" it is raising a fund versus for a startup. One key datapoint she shared on the fund side was how little feedback you get along the way (and the years you can wait for it). The “long-winded and challenging process to raise capital” inspired Drake and Ben Black to create RAISE Global, a community for emerging fund managers and the “forward-thinking LPs” who back them. (A decade later, several hundred emerging managers with AUM under $200m are on the platform) They've found the newest emerging managers are more diverse and geographically dispersed than Silicon valley, and more were able to crack the ceiling and raise larger $100m funds (although this is still a small % of the market, requiring partnership with larger funds at the late stage). ▶ And not a hugely surprising datapoint: A lot of action is in the sub $49 million range, where roughly 50% of emerging managers are raising. Theresa Sorrentino Hajer, Head of U.S. venture capital research at Cambridge Associates warns that past success isn't actually a strong indicator on it's own to assess emerging managers. We've had a valuation reset. And newer managers with investments during the 2019-2021 "party days", need to build relevant track record and play to their strengths. A lot of emerging managers are specializing (70% who applied for Raise had a thematic focus), and betting on getting in as early as possible in the startup's lifecycle (Raise: 31% at accelerator/ pre-seed stages, and 47% at seed stage). “Emerging managers have to compete on a different dimension,” Nick Moran from New Stack Ventures. You're no longer just dealing with capital. Emerging VC's need to be as innovative and nimble as the startups they invest in, having a unique thesis and insights. They also play a role at the top of the deal-flow funnel: helping larger firms find promising companies, so finding a thesis, sector or philosophy aligned partner at a larger firm is helpful. Onwards! #EmergingManager #Startups #VC

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BluWave has a deep bench of 800+ interim CFOs that allow us to quickly and expertly connect private equity firms and their portfolio companies to the exact-fit interim CFOs they need.    In one case study example, a PE firm came to us in need of a stopgap interim CFO for their automotive operations portfolio company. Here's the details of how we helped:   The Situation - Needing to make a leadership change in their portfolio company, a PE firm came to us in urgent need of an interim CFO who could focus on the portco's cash flow and working capital optimization while the search for a permanent CFO was underway. Given the protfolio company's industry, the PE firm not only needed an interim CFO with financial acumen, but one with the ability to handle a complex operational landscape and turnaround skills.   How BluWave Helped - Thanks to BluWave's deep network of exact-fit interim CFOs, we quickly connected them with a select few interim CFOs with the exact experience they were looking for.    The Outcome - The client selected their preferred interim CFO from our presented options. Their leadership marked a significant turning point for the automotive manufacturer, helping them tighten cash flow, meet reporting requirements and guide them through a crucial transition period.   When you need an exact-fit, PE-grade interim CFO, contact BluWave and we'll be ready to support.   #interimCFO #interimchieffinancialofficer

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What's the untapped opportunity in GP stakes? Hear 30 year asset management industry veteran Todd Owens, Co-Founder & Managing Partner at Cantilever Group, discuss why GP stakes has become a solution for asset managers and why the middle-market is an underserved and attractive segment of alternative asset management. Todd and I had a fascinating conversation on the latest Alt Goes Mainstream podcast. We discussed: * The evolution of alternative asset managers from Todd’s perspective as a banker to many alternative asset managers. * Why GP stakes has become a solution for alternative asset managers.  * Why and how alternative asset managers are businesses and why it can make sense for them to take investment to grow. * The benefits of GP stakes for investors and why the growing AUM of private markets means investors could benefit from exposure to GP ownership. * The risks and challenges with GP stakes as an investment strategy. * Why the middle market is an underserved and attractive segment in alternative asset management. * What the currency of consolidation will look like in alternative asset management. * What it means to grow and evolve a business as an alternative asset manager. Thanks Todd for coming on the show to share your wisdom and expertise on alternative asset management. Special thanks to our sponsor Ultimus Fund Solutions for their support of Alt Goes Mainstream. https://lnkd.in/gwdVUV7j

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Last week, we shared the first part (1/2) of our perspectives on vertical SaaS (vSaaS), more specifically on which metrics define the performance of vSaaS businesses and outlining the benchmarks for each of these metrics. If you have not yet read the piece, give it a read here - https://lnkd.in/d94n2bgN This week we published the second part (2/2) where we call out certain strategies deployed by successful vSaaS companies like Procore Technologies Toast ServiceNow Zenoti and others that can be used to improve the metrics that matter. Read on to layer the numbers with the strats- https://lnkd.in/dPkmWFax Do reach out if you are building in the space or want to exchange notes / feedback on the perspectives. #fintech #verticaSaaS #embeddedfinance #investments

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The healthcare landscape is rapidly evolving, driven by advancements in technology and a deeper understanding of patient care. I had the pleasure of speaking with Ambar Bhattacharyya, Co-Managing Partner at Maverick Ventures, on the latest episode of The Full Ratchet. Ambar has partnered with numerous billion-dollar companies like hims & hers, Cityblock Health, Devoted Health, and ConcertAI. His unique journey from rural America to becoming a prominent figure in venture capital offers invaluable insights into the future of healthcare and technology. We discuss his investment strategy at Maverick Ventures, the megatrends shaping healthcare, the impact of AI on the industry, and the importance of integrated care. Ambar also shares his thoughts on the challenges and opportunities in healthcare investment, offering a comprehensive view of what lies ahead. Check out TFR Episode 438 to catch our conversation. You'll be glad you listened. Link to the full episode is in the comment section below.

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Tune in to the upcoming webinar by Shils Entrepreneurial Fund on July 16th at 7 pm Eastern Time. The webinar, titled "Raising Capital and What it Takes," will feature Jane Levy, the Co-CEO of Plan Forward. This webinar is an invaluable resource for anyone looking to gain confidence in the process of raising capital from angels, family offices, and venture capitalists. #FamilyOffice #VentureCapital #Investors #Invest #Capital #Finance #ReverePartners #FundRaise #Tech #PrivateEquity #Equity #StartUp #Founders

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We recently wrapped Vista’s 2024 Annual General Meeting, where we had a chance to bring hundreds of our investors together and reflect on the past year as well as the magnitude of the opportunity ahead in enterprise software.    Last year was a remarkable year for Vista. We eclipsed $100 billion in assets under management (AUM) and returned more than $9.3 billion to our investors in a climate that saw exit activity drop to its lowest levels since the financial crisis (as of 12.31.2023).   We also continued to judiciously put capital to work to grow our ecosystem, completing seven platform investments and 10 add-on acquisitions. Today, Vista’s ecosystem comprises more than 85 portfolio companies, with a workforce of nearly 100,000 employees doing business in more than 180 countries around the world. Additionally, our differentiated private credit platform – Vista Credit Partners – experienced record deployment into what we believe is one of the most attractive private lending environments in decades.    While I’m proud of our growth, I’m equally proud of how we got here. Vista’s success remains deeply rooted in our focus on discipline and consistency. These characteristics manifest in our underwriting and value creation capabilities, in our team and their commitment to our performance-oriented culture, and in our ability to repeatedly partner with great management teams to drive operational change.   These core attributes were all on display at our AGM. They have also helped Vista garner the continued trust and partnership of an incredible group of global investors, who share our conviction in unlocking the compelling value and growth that has long defined the enterprise software sector. We remain humbled by their support and the opportunity to showcase how Vista is working as a firm and across our portfolio to capitalize on the catalysts shaping our industry, such as the recent advancements in Generative AI.   The Vista team has much to be proud of - and more to come.

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PE - Gross & Operating Margins <> Unique & Compelling Value Proposition, from Pat Grady on the "Invest Like the Best" podcast Pat Grady, Growth Equity Investor: "Unique and compelling value proposition is a comment on margin structure. If you have a unique value proposition, that should show up in Gross Margin because if your product is truly unique, you should be a price setter, not a price taker. And if you are a price setter, you should be able to set a price that's going to provide you with nice gross margins. So unique value prop gets you to a good gross margin. Compelling value prop is a comment on Operating Margin. If your product is truly so compelling, you shouldn't have to bludgeon people to death with sales and marketing to get them to try it and to get them to pay you for it. So if it is truly compelling, that should show up in the efficiency of your go-to-market organization or maybe there's a number like new ARR divided by sales and marketing where there's a number like LTV to CAC or there's a number like payback period. There should be some number or maybe 99% of your new customers come in organically." Source: Pat Grady & Patrick O'Shaughnessy, CFA https://lnkd.in/e38cjdyG #growth #investing #pe #privateequity #sequoia

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