Vator is combining and formalizing two traditional roles in the venture/startup ecosystem – the "startup advisor" and the "venture partner."
The "startup advisor" role has been an, albeit to date informal, mainstay of the venture ecosystem. Startup advisors are seasoned entrepreneurs who provide advice and counsel to startups. They share their experiences and leverage their business networks to give the startups access to partners and influencers who could help them progress.
The "venture partner" has traditionally been a representative of the venture fund. While not always part of the core management team of the fund, the venture partner represents the fund on specific investments, overseeing the fund’s interest and where possible leveraging the funds resources on behalf of the investment. The venture partner typically receives part of the carried interest on the investment, and could also receive compensation in the form of a stipend or part of the advisory fee.
Through its Stewards, Vator is combining these traditional functions to create a representative of the Vator fund (Vator Stewards receive part of the economics Vator receives) while also creating someone who will be a supportive business advisor for the startup.
Vator Stewards ultimately work for Vator and have responsibility to the fund created by Vator. As such Vator maintains ultimate say on the approval of a Steward for each specific fund. That said, startups can nominate Stewards for consideration, and Vator will also discuss potential Stewards with startups to help create effective working relationships.
Steward duties will include, but not be limited to, the following:
Benefits to Steward for participation in Vator program:
How Vator Steward compensation is determined (participate in economics can range from 15% to 40% of fund consideration as determined on a case-by-case basis):