Cornerstone Fund Services, the former team of Assure Services that provides outsourced CFO and fund administration services for venture capital and private equity funds, has launched. Salt Lake City-based Cornerstone is an affiliate of Standish Management and will focus on smaller funds, those with than a $100 million.
SALT LAKE CITY–(BUSINESS WIRE)–Assure Services (“Assure”) announced today that its team that provides outsourced CFO and fund administration services for venture capital and private equity funds has formed a new firm and rebranded itself as Cornerstone Fund Services.
Cornerstone, which is affiliated with Standish Management, will focus on its core areas of expertise — providing complete back office services for funds, their general partner entities and related management companies. Assure will continue to focus on its outsourced investor relations, equity crowdfunding and limited partner advisory services.
“We formed Cornerstone to create clarity in the marketplace and differentiate ourselves from the services offered by Assure. Our team, expertise and commitment to excellence remain the same, and we continue to share clients and referrals with Assure,” said Cornerstone Founder and Managing Director Ryan Davis. “In addition, we are excited to partner with Standish. We believe the synergy between our firms will allow us to provide excellent service to venture funds of all sizes.”
“Cornerstone’s team of CPAs brings tremendous experience and expertise to the outsourced fund administration market, and their focus on smaller funds – less than $100 million — is a perfect complement for Standish. This is a great opportunity for both firms to refer business and create new revenue streams,” said Standish Director Jeff Givens.
Cornerstone Fund Services provides outsourced CFO and fund administration services to private equity and venture capital firms. Cornerstone currently serves 27 fund groups comprising approximately 50 funds. Founded in 2015, Cornerstone is headquartered in Salt Lake City and is affiliated with Standish Management. For more information, visit cornerstonefundservices.com.
Standish Management, LLC is an employee owned company that provides consulting and administration services to private equity, venture capital, real estate and fund of funds firms. Founded in 2007, Standish is based in San Francisco with offices in Los Angeles, Palo Alto, Boston, Seattle, Dallas, Chicago, Walnut Creek and Woodland Hills. For more information, visit www.standishmanagement.com.
Assure Services is the leading provider of administrative and management services for equity crowdfunding platforms. It performs administrative services on a majority of all equity crowdfunding transaction in the U.S. Additionally, Assure offers outsourced investor relations to private equity and venture capital firms and currently serves 5 fund groups comprising a total of 11 funds. Founded in 2010, Assure is headquartered in Salt Lake City. For more information, visit www.assure.co.