Bridger Pennington says fund-service providers charge $500k to $1M in setup fees, pricing out smaller investors. His company cuts those costs dramatically, letting university funds like BYU and University of Utah manage $20 million portfolios without the massive upfront expense.
Chapters
Yeah, one of the reasons why we've grown so quickly is because of the need and demand for this. Most groups that help fund managers only work with big people. They only work with billion-dollar funds. And so the costs are millions or hundreds of thousands of dollars to set up and go. We've helped the lower end of the market, the couple of partners putting together their first firm to go help invest into BYU students, which is one of our firms that we work with right now, or to help invest into, you know, University of Utah students. They have $20 million, they're investing in startups there. They don't have, you know, $500 grand to $1 million to spend just on setup costs. And so we help take that cost way down for them to help invest into other people.