Fund Controller

Sorenson Capital is a leading venture capital firm that invests in product-oriented early and growth-stage B2B software companies in the cybersecurity, application, developer tools & computing infrastructure, and analytics, ML, & AI sectors. Sorenson has $1.6 billion of capital under management for two funds – an early-stage fund and a growth-stage fund. The firm supports entrepreneurs through every stage of their journey to accelerate revenue growth and further their product leadership position. Sorenson’s investments in product leaders include Amplitude, BambooHR, Bridgecrew, Couchbase, Fastly, Harness, and Socure.

With offices in Palo Alto, CA and Lehi, UT, Sorenson is proud to partner with entrepreneurs from coast to slopes.

Role and Responsibilities

Sorenson Capital is hiring a Fund Controller to join the firm’s Lehi, UT team. Reporting to the CFO and supported by a third-party administrator (TPA) and an Assistant Controller, the Fund Controller will assume responsibility for the daily operations of fund accounting and financial activities. This role encompasses various tasks such as regular reporting, providing valuation support, managing capital allocations, and facilitating investor communications. This knowledge is instrumental in optimizing the development and delivery of each fund’s unique limited partner and general partner calculations and communications.

What will be asked of this position:

• Partner with the CFO to manage daily fund operations.
• Manage the operations and accounting of existing funds.
• Oversee and provide guidance on the initial set up of new funds deliverables (capital calls, distributions, financial statements, waterfalls, IRRs) and perform a thorough and in-depth review and sign-off prior to CFO review.
• Perform multiple levels of review and analysis of financial reports, capital events, and complex private equity transactions.
• Collaborate with external parties, including auditors, custodians, and fund administrators, to ensure seamless operations and reporting.
• Assist in managing the firm’s budgeting and forecasting processes.
• Continuously review and enhance fund accounting procedures and systems, seeking opportunities to streamline processes and increase efficiency.

What we think it will take to be successful:

The ideal candidate will have 3-5 years of experience working in the accounting department of a venture capital or private equity firm, or who has prior experience working for a fund administrator. In addition, the following qualifications are preferred:

• Bachelor’s degree in Finance or Accounting; CPA or CFA certification is preferred.
• Strong quantitative and analytical abilities with a demonstrated ability to get to the right answer within a reasonable amount of time.
• Extensive knowledge of administering capital calls, distributions, financial statements, and calculating waterfalls and IRRs.
• Prior GAAP and fund accounting knowledge.
• Familiarity with limited partnership agreements and other investment vehicle governing documents.
• Ability to analyze fund performance metrics, assess risk factors, and provide insights for decision-making to enhance fund profitability and growth.
• Excellent organizational and detail-oriented skills with the ability to jump between multiple fund-related topics within any given day or even hour.
• Proven ability to work effectively in a fast-paced, dynamic, and high-stakes environment.

Benefits

The compensation plan for this role will be commensurate with the skills required for the position. As such, it will be comprised of a base salary and an annual performance-based bonus, which is determined by individual and company performance. Sorenson Capital offers a comprehensive benefits package that includes:

• Paid Time Off
• Paid Sick Time
• 401k
• Medical (H.S.A./HDHP option w/ employer contribution)
• Dental and Vision
• Group Term Life & AD&D
• Voluntary Life
• Long-Term Disability
• Employee Assistance Program