Meeting recap · November 4, 2026

Sovereign's Capital and Till: where we go from here

A short recap of our conversation, and a guide to how Till can step in when the need arises. Nothing here asks for a decision today.

Sovereign's CapitalBret Batchelder
Vivian Nguyen
TillBrett Billman
Tim Peters
ContextRamp AP and expense implementation under way
Fund accountant hired, start date pending

Recap

What we heard

  • Ramp is going well. Brandon's word for working with Wendy: she gets him what he needs faster than he expects. That responsiveness makes the project easier on both sides.
  • You filled the fund accountant role. Over the weekend Sovereign's extended an offer for a junior-to-mid fund accountant supporting Vivian, and the candidate accepted. He has not started yet.
  • The need will come back. Sovereign's is growing, so another need like this is a matter of time. A bridge may also be needed if the hire does not work out mid busy season.
  • You already sketched the shape of the work. A shared folder with the quarterly Apex NAV packs. Till owning two or three funds for first review and reconciliation, working through Vivian. A seat on the Apex treasury calls. Same-day review of capital call and distribution notices, often inside a four-hour window.
  • ERP is on the horizon. The QuickBooks question from October is still open. Till has real experience with ERP selection and migration and is glad to help when it resurfaces.

Vivian's questions, answered

Backup when the lead is out?
Yes. One primary fund controller, plus a named second operator who stays current on your funds and steps in for PTO, busy season, or a same-day capital call.
Audit support, directly with the auditors?
Yes. We work the PBC list to about 90 percent, send you the rest for review, and copy you on everything that goes to the auditors. We help with the audit; we do not perform it.
Tax preparation support?
Yes. Since we produce the financials, we sort the schedules and prep work for your tax preparers.
Does LP count change the price?
No. With Apex carrying the investor portal, 150 LPs per fund is in line with what we see elsewhere.

Engagement design

How we would work together

  1. Start with people, process, and technologyBefore anything is scoped, we map what Vivian, Wendy, Shelby, and the new hire do today, then design the engagement to take the most work off your plate with the least friction.
  2. Build on operating railsDaily, weekly, monthly, and quarterly processes with clear owners, so your team keeps moving without waiting on us, and we keep moving without waiting on you.
  3. One lead, named backup, alwaysA primary fund controller owns Sovereign's. A second Till operator stays current on your funds, so a capital call never lands on a PTO week.
  4. Stay in the rhythmA Till operator joins your treasury call each week, so advice reflects what changed this week, not last month. Known capital activity is scheduled in advance; the occasional emergency is handled.
  5. Fixed monthly feeNo hourly billing. The fee stays the same through audit and tax season. Drivers are fund count, portfolio companies per fund, and capital activity cadence. Adding a fund is an open conversation.
  6. A proposal in two daysWhen you are ready, share the current Apex packs for a couple of vehicles and we return a scoped proposal within two business days.

What Till would own at each cadence

Same day

Capital call and distribution notice review with Apex, inside your four-hour window.

Weekly

Seat on the treasury call. Reconciliations in progress. Open items flagged to Vivian.

Monthly

Bank and administrator reconciliations closed. Management fee and expense checks.

Quarterly

Apex NAV pack first review for assigned funds. LP communications drafted for your edit and approval.

Annually

Audit PBC list worked, tax prep schedules sorted, always with your sign-off.

When the need arises

Where Till can help

Fund accounting and administrator oversight

First review of Apex NAV packs, reconciliations, and capital activity notices for the funds you assign us. We flag what to dig into; you keep the final call.

Audit and tax season

We work the auditors' PBC list and the tax preparers' schedules, send you the 10 percent we need from your team, and copy you on everything that goes out.

Quarterly LP communications

Portfolio company board decks and updates become one clean investor pack for your partners to edit and approve before it goes out through your portal.

Coverage and continuity

A new hire who does not work out, a leave, a busy season, or a role that sits open. Till bridges the gap without a search.

ERP selection and migration

Requirements, vendor shortlist, data migration, and cutover for the move off QuickBooks Desktop when you are ready.

Finance systems and AI-enabled operations

Ramp today. The same approach applies to the rest of the stack: standardize the repeatable, keep people on the exceptions. AI amplifies human judgment. It doesn't replace it.

Open invitation

Reach out when

  • A fund accounting seat opens, or the new hire needs a bridge
  • A new fund or SPV launches and the review load jumps
  • Audit or tax season needs more hands than you have
  • The ERP decision comes back around
  • You want a fresh set of eyes on an Apex pack or a process

No scope is too small to ask about. Most of these start with a 30 minute call and a shared folder.

Brett BillmanManaging CFO Partnerbbillman@tillcfo.com

Tim PetersHead of Growthtpeters@tillcfo.com

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