Meeting Summary: Ed / Matias Operations Role

Date: February 23, 2026 Duration: ~45 minutes Location: Remote (Matias in Miami for Florida Venture Forum, Ed in Hawaii) Status: Positive - Moving Forward

Executive Summary

The call went well. Ed clarified the role, expressed his main concerns, and Matias is positioned to accept with a 1.5-year commitment. Key clarifications on compensation structure and in-person opportunities were obtained.

Key Outcomes

1. Entity Count Clarified

Ed's initial claim: 6 entities Actual count after discussion: 12 entities

| Structure | Entities | |-----------|----------| | IASV I (Battery Fund) | 2 + 2 CA = 4 | | IASV II (New Fund) | 3 + 3 CA = 6 | | Tilden Capital (SPV) | 1 (CA only) | | Management Entity | 1 | | Total | 12 |

Work reality: Mostly coordinating with accountants, not direct execution.

2. Compensation Structure Clarified

| Type | What Ed Said | Notes | |------|--------------|-------| | Base salary | $33,000/year | Unchanged | | "Subtle money" | LP introductions | NOT deal sourcing | | Deal sourcing | Incentives misaligned | Ed feels if Matias isn't investing, incentives don't align | | Finder's fees | Not discussed | Need to revisit | | Carry | Not discussed | Need to revisit |

Key insight: Ed sees the upside as bringing in LPs to the fund, not sourcing deals for the fund to invest in.

3. Max's Actual Issues

| What Ed Said Before | What He Actually Meant | |---------------------|------------------------| | "Too conservative" | Availability issue - only Wed/Thu 3-6pm | | "Asks too many questions" | Over-confirms things that should just be executed | | "Not excited about the business" | Has a young kid, limited bandwidth |

What Ed wants: Someone who executes with authority, tends to things on a timely manner, makes a few mistakes (that's fine), doesn't triple-check everything.

4. Commitment Length

| Original Ask | New Ask | Matias Response | |--------------|---------|-----------------| | 1 year | 1.5 years | Can commit given low time requirement |

Ed's concern: What happens when Matias's company raises money?

Matias's position: Time commitment is manageable alongside venture studio work, but needs to tend to things on a timely manner (not like Max's Wed/Thu 3-6pm constraint).

5. In-Person Meeting

| Item | Outcome | |------|---------| | Ed willing to pay | Yes - flights and accommodation | | Preferred events | Macombie batch showcases | | YC Demo Day | Too many partners already attending | | Other events | Open to any startup events |

Action: Identify next Macombie showcase date and coordinate travel.

6. Decilebase & Operations Status

| Area | Status | |------|--------| | Decilebase (LP/VP data) | Max has it up-to-date, should be easy | | Capital calls | 40% called so far | | New investors | Ed wants to close fund soon, avoid calling 70% from old LPs | | Laura (VC Lab/Hub) | Very work-oriented, just stay in touch | | Decile Hub platform | Matias could maximize value by utilizing it fully |

7. SPV Complications Noted

Previous management company went out of business
Left with fines, late fees, state correspondence issues
VC Lab acknowledged mistakes on CA LLC filings
VC Lab offering fee assistance package

Ed's Main Concerns

Longevity - What happens when Matias raises money for his ventures?
Availability - Needs someone who can respond on a timely manner (unlike Max's limited hours)
Over-confirmation - Wants execution with authority, not triple-checking

What Ed Values

Matias's proactive approach
The deal evaluation work already done
Potential synergies with venture studio
Long-term relationship building

What Was NOT Clarified

| Topic | Status | Next Step | |-------|--------|-----------| | Finder's fee structure | Not discussed | Revisit before signing | | Carry on sourced deals | Not discussed | Revisit before signing | | Written scope document | Not discussed | Matias to draft | | 6-month check-in | Not discussed | Propose in writing | | Decision authority boundaries | Verbal only | Document in writing |

Closing

Matias closed with:

"I'm excited about this, Ed. The ops role gives me stability while I build the venture studio, and the strategic exposure to how you run IASV is incredibly valuable. Let's make this work."

Call ended on a positive note.

Action Items

Matias - Immediate (This Week)

[ ] Add Macombie deals to Notion (before Tuesday meeting)
[ ] Draft written scope summary based on Ed's task list + call clarifications
[ ] Propose 1.5-year commitment with 6-month check-in clause
[ ] Identify next Macombie showcase dates
[ ] Follow up on Scale to Miami decision

Matias - Before Starting

[ ] Clarify finder's fee / carry structure for deals sourced
[ ] Get written confirmation on venture studio compatibility
[ ] Schedule Max handoff call
[ ] Get access to Decilebase, accountant contacts (Kustov, Spicer Jeffries)

Ed - To Provide

[ ] Arrange Max handoff
[ ] Confirm start date
[ ] Provide accountant contact intros
[ ] Confirm Macombie showcase dates for in-person visit

Revised Opportunity Assessment

| Factor | Pre-Call | Post-Call | |--------|----------|-----------| | Entities | 11 | 12 (but confirmed manageable) | | Commitment | 1 year | 1.5 years | | Deal sourcing upside | Expected | Unclear - "misaligned incentives" | | LP intro upside | Unknown | Confirmed ("subtle money") | | In-person opportunity | Proposed | Accepted - Ed paying | | Max issues | Quality? | Availability + over-confirmation | | Overall fit | Strong | Strong - proceed |

Decision Status

PROCEED with acceptance, but:

Get finder's fee / carry structure clarified in writing
Document scope and decision authority
Propose 6-month check-in within the 1.5-year commitment
Coordinate in-person visit to Macombie showcase

Next Meeting

Tuesday Deal Review - Macombie deals to be added to Notion before then.

Meeting notes compiled: 2026-02-23 Source: Granola transcript + Matias's handwritten notes

Ed Meeting Summary 2026 02 23