Ignite VC: How GPs Can Scale Smarter and Win LP Trust Early with Dave Perretz | Ep178

Dave Perretz is a former Army officer turned founder of Signal Fund Services, where he helps emerging GPs scale with confidence. With experience at JP Morgan, Iron Spring Ventures, and startup 2U Laundry, Dave combines deep operational expertise with a strategist’s mindset to reimagine how fund infrastructure should work. In this episode, he shares how his military background shaped his leadership philosophy, the hidden pain points GPs underestimate, and what it really takes to become institutional-ready.In Today’s Episode We Discuss:00:01 Dave Perretz’s Unconventional Path into VC01:35 Lessons from Military Leadership04:00 Entering Startups and Building 2U Laundry06:22 The Origin of Signal Fund Services07:04 When GPs Should Bring in Fund Ops Support09:17 Fund Admin vs Fund CFO: Key Differences11:13 The CFO Triangle Explained13:41 What GPs Consistently Underestimate15:25 Fund Ops Tech Stack: Build or Buy?16:39 The AngelList Debate17:57 AI in Fund Ops and Its Limits24:34 What Institutional-Ready Really Means26:20 ILPA Guidelines and LP Expectations33:31 What LPs Want in Updates and Dashboards35:44 Metrics That Actually Matter: TVPI, MOIC, IRR41:02 Shifting LP Expectations and Market Trends43:23 Why VCs Fail to Beat the Market48:33 Rise of Solo GPs and Fund 2–3 Maturity50:28 Rolling Funds and Founder Vehicles52:31 How AI Is Changing the Back Office54:20 Making Better Decisions Under Pressure57:10 Prioritizing in Chaos and Team Design59:35 Most Underrated Metric for GPs01:00:33 Biggest Myth About Institutional Readiness01:01:02 Overhyped Tech in Fund Ops01:01:49 Most Underrated Trait of a Fund CFO01:02:11 Best Gut-Based Investment Call01:05:01 Audit War Stories and Doc Hygiene01:06:00 Rapid Fire QuestionsSubscribe on Spotify: https://open.spotify.com/show/ignite-podcastSubscribe on Apple Podcasts: https://podcasts.apple.com/us/podcast/ignite-conversations-on-startups-venture-capital-tech/id1709248824Follow Dave Perretz on LinkedIn: https://www.linkedin.com/in/davidperretz/Follow Team Ignite on X: https://twitter.com/ignitevcFollow Brian on X: https://x.com/brianrbellFollow Brian on Linkedin: https://www.linkedin.com/in/bblinkedin/Visit Our Website: https://www.teamignite.venturesSubscribe to Our Newsletter: https://insights.teamignite.ventures/👂🎧 Watch, listen, and follow on your favorite platform: https://tr.ee/S2ayrbx_fL 🙏 Join the conversation on your favorite social network: https://linktr.ee/theignitepodcast//Our sponsor Byldd⁠ helps non-technical domain-expert founders build and launch tech businesses by providing a complete product team - that's everyone you need from designers to engineers to testers, all the way up to a CTO.We'll ship products while you focus on the other essentials: validation, sales, and distribution. Our portfolio companies have been backed by YC, Google, ERA, and other top-tier investors.Get Started Here: https://tr.ee/bylld