The Fort #334.- Chris Powers & Jason Baxter - Fort Capital's 2023 Year in Review
33 snips
Feb 1, 2024 Chris Powers and Jason Baxter reflect on Fort Capital's 2023 achievements, fundraising goals, custom AI development, deal pipelines, profitability, team growth, and the outlook for 2024. They discuss the successful implementation of document AI in improving the invoice process, the renewal rockstar initiative to boost tenant renewals, and the adoption of company-wide AI challenge. They also cover their acquisition pipeline in 2023, expansion of the team and opening new offices, and the challenges in finding affordable land and meeting construction costs.
AI Snips
Chapters
Transcript
Episode notes
Fundraising Journey
- Fort Capital considered raising funds or pre-committed capital for years but continued with deal-by-deal fundraising.
- They eventually hired JLL in 2023 to explore a fund structure for better competitiveness and efficiency.
Committed Capital Advantages
- Raising capital deal-by-deal can become inefficient as a company grows, especially regarding deal execution speed.
- Committed capital allows for quicker, more strategic decisions and faster growth.
Automate Invoice Processing
- Implement an invoice parser using document AI.
- This will improve invoice processing and reduce manual data entry, increasing efficiency.