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Powering a Fund-of-Funds Strategy: A Case Study on Signature Ventures

80%
Reduction in reporting time
35
LPs onboarded
90%
Fewer email cycles

About Signature Ventures

Signature Ventures is an early-stage venture capital firm founded in 2019 and based in Germany, investing in blockchain, distributed ledger technology, and Web3. Backing Pre-Seed to Series A startups globally with a strong European focus, the team operates in a highly specialised deep-tech niche and has built a strong track record supporting breakthrough technologies. As the firm grew, administration quickly revealed a specific challenge: securing the right legal and operational support for highly complex, niche transactions across deep-tech, crypto, Web3, and blockchain. With technology at the core of their investment philosophy, value alignment became essential in selecting a fund administration partner — a tech-enabled platform capable of meeting the expectations of a demanding LP base, from reporting precision to operational scalability.

The challenge: scaling with a second fund-of-funds strategy

Anja Stang, Director of Operations at Signature Ventures, has been with the firm since day one. She's touched and built everything operations-wise from the ground up: fund administration, LP relations, reporting workflows, data infrastructure, and investor communications. As Signature's deep-tech portfolio matured and generated multiple successful exits from Fund I, the operational complexity multiplied. Each exit event created cascading fund administration challenges: waterfall calculations, distribution workflows, tax reporting, and LP communications.With the upcoming launch of Fund II — a fund-of-funds strategy targeting early-stage managers in deep-tech sectors, involving over 20 limited partners and a complex setup with multiple closings and jurisdictions; operational demands were set to increase significantly. The firm needed infrastructure that could match not only their ambition and growth trajectory, but also the rising expectations of their LP base. They also sought a partner who was highly responsive, willing to engage in operational complexities, and equipped to understand the challenges of their blockchain, distributed-ledger, and Web3 portfolio companies.

Anja Stang

Director of Operations at Signature Ventures

“When I think of bunch, I don't just think of the platform — I think of the people behind it. From day one, the team gave us the confidence that we were in good hands: committed, proactive, and genuinely invested. Working with bunch feels like a genuine partnership”.

The decision: beyond a platform; a genuine partnership

After experiencing the limitations of traditional fund administration platforms, Signature Ventures knew they needed a different approach for their growth phase. The firm chose bunch based on two key factors:

1) Modern technology infrastructure – a unified platform that can handle the complexity of a fund-of-funds structure.

2) Deep-tech expertise – responsive account managers who provide hands-on support.

Juliane Hahn

Founding Partner & Managing Director at Signature Ventures

“You can feel that bunch is on a mission — always focused on getting things across the finish line. The collaboration is built on trust and proactivity. Even when we’re short on time, we know they’ll follow up and make sure nothing falls through.”

The impact: from manual to tech-enabled

In the early days, it’s easy to believe Excel will do the job — after all, the model starts with just a handful of columns. But complexity escalates fast: multiple closings, investor top-ups, conservatory interest calculations, regulatory obligations, and the reporting that follows quickly push spreadsheets to their limits. At that point, clean and scalable structures stop being a nice-to-have and become essential.By consolidating all fund data into a single source of truth, Signature Ventures fundamentally reshaped how their operations run. After successfully migrating Fund I to bunch, they built Fund II entirely on the platform — transforming their operational setup and strengthening investor relationships as LPs became fully bunch-native. To Anja’s surprise, even the older LP base embraced the digitisation thanks to bunch’s intuitive user experience and interface.

Dr. Georg (Juri)

S. Partner at Signature Ventures

“The future of fund administration is tech-backed and data-driven. With many transactions and sensitive investor data, we need modern tech — and bunch is driving that innovation.”

Challenges before bunch
  • Manual legacy fund administration tool
  • Excel spreadsheets that couldn't scale
  • Fragmented data across multiple closings and complex deal structures
  • Time-intensive management of deep-tech and multiple exits
Results after bunch
  • Single source of truth for all investor data across 35 LPs with clean, scalable structure
  • Fund I and Fund II successfully migrated to tech-enabled platform, LPs bunch-native
  • True partnership built on commitment, trust, and a shared vision
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Future with bunch: driving innovation together

For Signature, the logic is clear: bunch is moving the industry forward by opening up private markets through technology. In an environment defined by complex transactions and highly sensitive investor data, the underlying infrastructure matters. A tech-backed, single source of truth is essential to serving their LP base with the precision and transparency they expect.With the operational burden lifted, Anja regained valuable time to focus on what drives the fund forward. Signature operates with a lean team of 10 and believes in scaling smartly. As they expand across geographies and explore new fund-of-funds strategies, the potential to deepen the partnership with bunch continues to grow.

Juliane Hahn

Founding Partner & Managing Director at Signature Ventures

“What we appreciate most is the reliability. With bunch, we finally have a setup where data, documents, and workflows sit in one place—and everything just moves faster. It gives our team the confidence to focus on investment decisions instead of chasing admin.”

Outcome in numbers

35

LPs onboarded & digitsed

80%


Reduction in reporting time

90%


Fewer email cycles

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