As the CFO of a venture capital fund, Bill has been working with startups to raise money for over 25 years, and now as an independent consultant, he works with companies to raise money from private equity investors. He has prepared, reviewed, and approved hundreds of financial projections, cap tables, IRR analyses, term sheets, and pitch decks in connection with these fundraising efforts.
Created financial models related to portfolio company investments and/or reviewed and critiqued models prepared by prospect companies. Models were investor-oriented and solved for terminal IRR upon exit, incorporating model variables in a dashboard format.
Prepared investment term sheets or analyzed term sheets prepared by investment prospects, which included economic and non-economic terms such as pre- and post- money valuation and cap table assumptions; liquidation preferences; follow-on financing rights and obligations; and corporate governance (board participation).
Contributed to new investment and follow-on investment due diligence, including client meetings and site visits, reference checks, and IP reviews.
Prepared all periodic, quarterly, and annual financial statements for the venture funds, including SFAS 157 (now ASC 820) valuation calculations; interfaced with external auditors in their conduct of annual audits; and all tax return data for preparation of fund tax returns.
Generated internal financial analyses such as investment and operating budgets necessary to make future investment decisions and to manage the venture funds for the Managing Directors.
Focus areas: Early Stage Private Equity Investing, Mergers & Acquisitions (M&A), Private Equity, Private Equity Secondaries, Due Dilligence, financial planning and analysis, cash forecasting, Profit & Loss
1991 - 1999
Individual Consulting Practice
Prepared presentation materials (pitch deck, financial models) and made presentations to angel investing groups (Tech Coast Angels); successfully raised money for an ambulatory health care testing company.
Researched tax ramifications of potential corporate acquisition and merger transactions, including tax-free acquisition qualifications as well as preservation of net operating loss (NOL) carryforwards under IRC Sec. 382 to obtain maximum tax advantages in proposed transactions.
Consulted various venture funds regarding new investment and follow-on investment due diligence, including client meetings and site visits, reference checks, and IP reviews.
Acted as interim CFO for companies on behalf of venture funds.
Performed internal control evaluations of portfolio companies and potential investment targets on behalf of venture investors.
Focus areas: due diligence, Private Equity, private company valuations, financial planning and analysis, Mergers & Acquisitions (M&A), Budgeting, P&L Forecasting, Cash Flow Forecasting
Audit and Tax Executive
1978 - 1991
Ernst and Young
Led teams performing audits of companies in a variety of industries and participated in preparing financial information for numerous IPO and secondary offerings. Achieved senior manager level in seven years.
Transferred to the tax department as a Senior Manager, going through the firm's two-year tax-transition education program (Masters in Taxation-equivalent) in Washington, DC. Supervised tax compliance work for various corporate clients, and advised on tax aspects of mergers and acquisitions and various other business transactions.
Joined an internal consulting group and became involved in numerous business advisory projects, including internal controls documentation, and evaluations.
Supported investment banks and their investor clients engaged in buyout transactions, as part of an acquisition due diligence support team. Assisted in structuring domestic and international buyout transactions.
Contributed to the firm's recruiting, evaluation, and review committees to improve processes in this area.
Focus areas: due diligence, Business Taxes, Audit Management, Annual Tax Returns
Master's degree in Systematic Theology
1995 - 2000
BIOLA - La Mirada, CA, USA
Master of Business Administration (MBA) in Accounting and Taxation
1980 - 1982
Cal State Fullerton - Fullerton, CA, USA
Bachelor's degree in Business Administration
1975 - 1978
Cal Poly San Luis Obispo - San Luis Obispo, CA, USA