A 40% shorter runway, caught before the round

OMVC (formerly Vectr Fintech Partners) is an early-stage venture firm in Hong Kong and San Francisco. Its team screens 500+ companies a year and takes roughly 30 into a deep dive, a funnel where the cost of one unverified number is measured in a whole fund's reputation.

OMVC brought in Verified Metrics to underwrite deals and monitor its portfolio on data pulled straight from source systems, not management decks. It is now a condition of investment: every prospective and portfolio company connects to Verified Metrics.

The Challenge

For an early-stage investor, financial due diligence is time-consuming, unglamorous, and easy to under-do, yet skipping it is how funds end up holding fraud. OMVC's constraints were the ones every deal team knows:

• Early-stage companies with weak reporting, where the numbers in the deck rarely tie to the ledger
• A "trust but verify" model that, in practice, stopped at trust
• Ongoing portfolio monitoring run over email and spreadsheets, always a quarter behind

"We've seen a massive amount of companies coming to market where their financials aren't sound, where the governance isn't sound, where there is fraud. We have to protect ourselves from that. It's our job to protect our LPs' capital," says Mark Munoz, General Partner at OMVC.

The Work

• Source-connected financial due diligence on prospective investments, tied back to the ledger and the bank
• Transaction-level analysis to surface red flags an audit sample would miss
• Continuous portfolio monitoring on live data, replacing the quarterly spreadsheet chase
• Practitioners on the ground with the founders, walking through the findings in person

The Impact

On one portfolio company weighing acquisitions and a senior hire, the reported numbers didn't reconcile with the story management was telling. Two findings changed the decision:

• A 40% shorter runway: management believed they had roughly six months; the source data showed closer to four. Their own CFO verified it.
• Misleading revenue recognition: not fraud, but an accounting treatment that would have failed diligence at the next round, caught and corrected before it did.
• A stronger company: the founder revised her reporting and extended the runway. She went into the next raise better positioned, not blindsided by it.

"What looks like fraud is often just poor accounting, but it's crucial to ask the question," says Munoz. "When you can sit the founder down and walk through the same information we're seeing, you get a better result. The whole company comes out stronger."

Where it stands

Verified diligence is now part of how OMVC invests. "It's not a question of if. It's a question of when and how fast," says Munoz. "If they want us to invest in their company, they connect. That's part of our process now."