Virtualnonexecs.com, the premier platform linking non-executive directors and chairs with venture capital and private equity firms, has achieved a remarkable milestone by reaching an annual recurring run rate revenue of £1 million. Ian Wright, the accomplished tech entrepreneur and founder, has unveiled plans for an expansion that is poised to add an impressive £1.5 million to the ARR in its inaugural year.
Unprecedented Growth Trajectory
Established in 2019 as Wright’s second venture in the non-executive director space, Virtualnonexecs.com has witnessed astounding growth that has outpaced expectations. “The demand has been staggering, and we’re working hard to keep up,” said Wright. The platform has cultivated a thriving community of over 17,000 non-executive and chair members, becoming an indispensable resource for numerous VC and PE firms.
Addressing Investor Discontent
Wright highlighted that the platform’s rapid trajectory mirrors a growing discontent among investors due to exorbitant fees imposed by certain intermediaries. Virtualnonexecs.com stands as a beacon of value and cost-effectiveness in this changing landscape.
The Launch of VNXD Operator Network
A groundbreaking addition to Virtualnonexecs.com is the VNXD Operator Network. This innovative interface empowers VC and PE firms to regain control over their recruitment process. It allows them to identify, map, and select top-tier board advisor talent, thus circumventing the traditionally high costs associated with search firms.
Wright shared a notable case where the appointment of a chair, a prominent figure in the banking industry, saved a PE firm and their client over £100,000 in recruitment fees alone. The VNXD Operator Network’s unique combination of community and interface enables rapid market mapping, longlisting, and shortlisting within an hour. Furthermore, the platform offers expert support for clients who require ongoing role management.
A Force with Multiple Avenues
Beyond recruitment, the VNXD Operator Network holds potential for identifying and connecting with potential non-executives and operators for investment ventures. The collective membership of the platform represents an impressive £250 million in available funds, marking it as a transformative force in the industry.
Operational Synergy
Virtualnonexecs.com leverages a collaborative peer-to-peer approach among professionals to efficiently serve its growing clientele. “Our teams work in harmony to ensure scalability as per market demand,” explained Wright.
A Future Anchored in Dynamic Partnerships
Looking forward, Virtualnonexecs.com is poised for further expansion. Wright projected revenue of £6 million within two years, underpinned by the potential of the VNXD Operator Network to generate a substantial profit in its initial year. The platform’s alliances underscore its robust growth and market potential. In addition to being supported by Sage, a prominent software company, Virtualnonexecs.com has partnered with Quilter Cheviot, a significant investment management firm with £25.9 billion of assets under management. With backing from JMW, a respected national law firm, and other notable partners, the platform’s path towards growth and market leadership is well-defined.
Wright’s discussions with additional affinity partners indicate further expansion on the horizon. He affirmed, “These partnerships not only bolster the platform’s growing reputation but also set the stage for accelerated growth and market dominance.” Backed by a diverse and influential coalition of supporters, Virtualnonexecs.com is poised to redefine the landscape for non-executive directors, ushering in a new era of interaction and business within the investment community. In an ever-evolving landscape, Virtualnonexecs.com is not just keeping pace; it’s setting the rhythm for the market, reshaping the dynamics of non-executive directors’ engagement with the investment landscape.
