About
The Full Scoop, by Lori DeLuca
DeLuca Financial Services (DFS) was established in 2018 when I decided I needed a new career path after being at Invenergy for almost 10 years. This change was driven by the people that mean the most to me in this world—my children. For years, I was heading downtown Monday–Friday, getting on the train before they were even awake and coming home just to make a quick dinner and get them to bed. I needed more time with them, I wanted to be available for them, and I wanted them to know that, while my career is important, they are top priority.
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One day, I approached my mentor, Amy Francetic, about seeking a career change, wanting advice from another working mother. Coincidentally, she was moving to a venture capital fund and said she was hard-pressed to find a fractional CFO. She said "Come work for me!" but I told her I needed a full-time job and knew nothing about venture capital. That's when she told me of another woman in the Chicagoland area who had her own practice with multiple clients, suggesting I reach out to her to get some ideas about starting something on my own. Between that discussion, Amy's encouragement, and my husband's confidence in me, I decided to give DFS a try. I knew I had a deep understanding of accounting and financial reporting and would be able to quickly get up to speed in the VC world with the support of my clients and service providers. My first client was Energize Ventures in 2018, which is where I met Jen Nalli while she was working as their fund administrator. Jen was very patient with me, and I knew she was very good at what she did. Jen was just starting a family, allowing us to connect as working mothers.
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In 2019, I took on my second VC client, Chingona Ventures, and my practice began to grow by word of mouth. I feel blessed because all of our clients have come through referrals.
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Then, one day in 2022, Jen asked to grab lunch with me so that she could pick my brain about starting a business. By the end of the lunch, she was asking if she could work for me! At that time, I didn't know if that was something I wanted to do. However, the more I thought about it, the more I realized I could take on more clients and help emerging managers set up their funds for success—the way I had learned on my first few clients. Except this time, I was able to advise new clients on how to set up a management company budget, which fund administrator to use, which policies other VC firms had implemented, etc.
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After the birth of Jen's 4th child (all girls!), she joined me part-time in August 2023. She has been such an amazing addition to the team with her breadth of knowledge in the fund administrator world. She is smart and detailed, and she knows how fund administration should run. She's responsive and is great at prioritizing. We quickly filled up our client load, and by December, we were both fully utilized. At the beginning of 2024, we continued to get inbound referrals looking for our support, and in February, I knew I needed to hire another team member if I wanted to continue to grow.
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I reached out to one of the audit firms that I work with to see if they knew of anyone who would fit the role I was looking for. They quickly referred Beth Luken as someone I "had to meet." Beth and I hopped on the phone a few days later for an intro. She had just started her job search, and she had heavy audit experience in investment management for VC, PE and fund of funds—it was like I found a gold mine! Beth had amazing referrals, and I quickly realized she would be perfect for our team. Beth started in April 2024 and has already provided invaluable expertise in valuation policies, audit support and technical reviews of complex contracts.
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It was only a few months later that I was looking for some more part-time support. Lucky for me, beginning in October 2024, one of my best friends since college started to work with DFS. When I told Laurie I was looking for part-time support for my firm, her ears perked up and after several conversations, we both decided she would be a great addition to our team. Laurie and I met at Texas A&M during our sophomore year in college. We were both accounting majors and finished the 5-year Professional Program in Accounting together. Laurie went to work in Austin, and I went to work in Houston before moving to Chicago. Even though Laurie and I never lived in the same city again, we've kept in close touch and made a point to see each other every few years.
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All this to say, I haven't regretted starting DFS for even one day. My life is so much more fulfilled. I get to see my kids every morning and every afternoon when they get home from school. I get to work with some of the smartest people I've ever met—making their marks in the world by deploying capital and believing in businesses that will change the world. Now, I get the chance to teach and mentor these wonderful people on my team, and in return, I am able to learn from their skills and experiences, making me better and more well-rounded. DFS, the clients, and my team are truly some of the greatest blessings in my life, and I'm forever thankful for the chance that Energize Ventures took on me.