Shriram Bhashyam, COO of fund administration platform Sydecar, points out that the problems on the public equity size might me investment-related.

Shriram Bhashyam, the chief operating officer of Sydecar, a special purpose vehicle and fund administration platform for venture capital, names data governance and data access as two major drivers of operational inefficiency.

This entire article was written by Sydecar's CEO, Nik Talreja.

Sydecar, founded in 2021, was born out of co-founder Nik Talreja's experiences as an attorney who helped start-up clients raise SPVs.

Sydecar...has been named to the annual Inc. 5000 list, the most prestigious ranking of the fastest-growing private companies in America.

In Q1, Sydecar reported that its median SPV raised $794,973 from eight LPs in only 18 days, with a 10% carried interest fee and a 2% management fee.

According to Shriram Bhashyam, COO of Sydecar, the structural timeline and requirements for going public have changed dramatically over the past decade.

This was written by Sydecar's COO, Shriram Bhashyam. He was previously co-founder and Chief Strategy Officer of EquityZen, a leading marketplace for buying and selling shares of private companies, and Co-Head of Business Development at Forge Global, a platform for institutional trading of private shares.

"Emerging managers are likely to have LPs that don't meet the $200,000 investment minimum," explains Nik Talreja, CEO of SPV and fund automation platform Sydecar. "This means that if they do raise under 506(c), they will still need to verify the accredited status for any smaller investors - so some friction still remains."

Last year, SPV specialist Sydecar recorded 769 SPV deals for venture-backed startups (not limited to just those led by emerging managers). That’s up from 522 in 2023 and just 274 in 2022. More than 35% of those deals in 2024 were in the seed stage.