$1.45M Attributed. 83x On Spend. Zero Manual Follow-Up.
Veritas Equity Partners is a private equity real estate firm in the Seattle area. Alex has been buying Pacific Northwest apartment buildings since 2010; Veritas is the syndication business he and his partner Lauren built around that track record, buying workforce housing and raising from accredited investors deal by deal. In the eleven months before this engagement they raised about $10M and bought roughly $20M of property. The business runs on the raise. Deal flow is their strength, and so is close rate. What they could not manufacture was at-bats, every dollar of that first $10M came from people the founders already knew.
A network is a stock, not a flow. It draws down with every raise and refills at the speed of dinners and referrals. Investor tracking lived in a spreadsheet of about 200 names, a CRM seat sat unused, and a third-party service ran the ads and held the leads inside its own system, where Veritas could neither see raw leads nor verify follow-up. Between deals, nothing happened at all. In Alex's words on the first call: “we don't have anything built out at all. We've just been using our own network for everything.” Hiring does not fix it, another salesperson multiplies a pipeline, and there was no pipeline to multiply.
- Every dollar of the first $10M raised through the founders' personal network
- Roughly 200 investor names in a static spreadsheet, no source tagging, no pipeline view
- Lead flow rented from a third party whose system Veritas could not own or audit
- No nurture, no newsletter, no re-engagement of past investors between raises
A full investor acquisition machine that Veritas owns, end to end. Every lead from every entry point, ads, LinkedIn, website, email, booking link, is auto-captured into a purpose-built investor CRM, tagged by source, and routed into a source-specific email and SMS sequence, every message driving one action: book a call with Alex. Attributed capital is tracked investor by investor and reconciled against the bank and the investor portal, so every dollar traces to the channel that produced it. The hardest constraint was taking over a live raise mid-flight: the third party's campaigns were replicated and lead flow rerouted into the new system before the vendor was switched off, so no lead in an active raise was dropped in the handover.
- Deal-specific ad campaigns with founder video, expanded from two Washington counties to out-of-state metros
- Automated LinkedIn connection and follow-up sequences targeting physicians, engineers, and executives, prioritized by intent signals
- Roughly three-week nurture sequences per lead, with no-shows and cold leads recycled into a call list instead of disappearing
- A reactivation play that hits the dormant investor list around every close
- A monthly market update newsletter that runs without anyone producing it by hand
Two raises, $1.45M attributed, $17,541 spent. These are not the totals Veritas raised; they are the dollars traced to this system in a reconciled ledger. Ridgeline needed to close fast: one reactivation campaign against the dormant investor list produced $250,000 in the final three weeks at $217 in total cost, and the round closed.
Horizon Park was the full funnel, ads, LinkedIn, and email running together for roughly three months. The system's attributed share was $1.2M ($845K from ads, $250K from LinkedIn, $100K from email) of a raise that closed oversubscribed at its full $3M against $2.8M needed. Of the roughly 30 investors in the deal, only about three had ever invested with Veritas before. It was new investors, produced by a machine, at about a cent per dollar raised.
Nobody at Veritas chases a lead anymore. Capture, tagging, sequencing, and booking run in the background, and the founders' calendars fill with investor calls they did not schedule. The old constraint, one raise at a time, is gone: as of August 2026 two raises run simultaneously, one at 67% of capital two months before closing and another with $350K already committed three months out. The most recent 80-seat investor event drew 90 sign-ups off the same channels, and AUM has grown from roughly $50M at the start toward $85M as the next acquisition closes. Twelve months from first call, still running.
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